Trump-Xi summit pushed back to at least April

‘We’ll have news on China -- probably one way or the other we’re going to know over the next three to four weeks,’ said US president Donald Trump.

US president Donald Trump Source: Bloomberg

The trade talks between United States (US) president Donald Trump and Chinese president Xi Jinping have been postponed to at least April, later than the expected March meeting, Bloomberg reported on Thursday, citing anonymous sources.

Mr Trump had said on Wednesday he was in no rush to complete a deal. On Thursday, the US president provided an update to state that talks are ‘moving along very well’.

‘We’ll have news on China -- probably one way or the other we’re going to know over the next three to four weeks,’ he had said.

A discussion was held between China’s vice premier Liu He and US trade representative Robert Lighthizer and treasury secretary Steven Mnuchin by phone on Thursday, and that “further material progress” has been made over the wording of the agreement document, Xinhua news reported.

Mr Mnuchin told a congressional committee the deal is expected to be finalized soon, but because the trade deal is a hefty 150-pages long, the progress is complex. ‘We want to get the agreement right…that’s more important than the exact timing,’ he said.

Mr Trump and Mr Xi were previously expected to hold a summit at the US president’s Mar-a-Lago property in Florida this month, but no concrete plans have been made in more than two weeks.

China has not made any public statements on the next meeting between the Chinese president and Mr Trump so far.

Last month, Mr Trump decided not to increase higher tariffs on Chinese goods as scheduled on March 1 to provide more time for negotiations between the two countries.

Trump’s global trade war

Everything you need to know about Trump’s showdown with China.

  • What’s happened so far?
  • Stocks, oil and other markets to watch
  • How to make the most of volatility

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Bid
Offer
Updated
Change
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.


IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IGA Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

Please see important Research Disclaimer.