Trump says he might let China trade deal deadline slip

US president Donald Trump says he might let the March 1 trade deadline with China "slide for a little while,"

Trump on China Source: Bloomberg

US president Donald Trump has said he could let the deadline for a trade agreement with China "slide for a little while," expecting to meet with Xi Jinping to close the deal.

Trump said on Tuesday, he preferred not to let the March 1 deadline slide, and that he expects to meet with Xi to close the deal at some point.

The comments come after Trump advisers previously said the March 1 deadline was a “hard deadline,” but Trump’s comments alluded to softer approach.

‘If we’re close to a deal where we think we can make a real deal and it’s going to get done, I could see myself letting that slide for a little while,’ Trump said on Tuesday.

He then added he wasn’t “inclined to do that that” explaining the country is “doing very well over in China.”.

More time might be needed

Senator Rob Portman said, he discussed the US China talks with US trade representative Robert Lighthizer last week, commenting that he thought the talks were progressing and described them as "constructive and serious."

However, Senior vice president of the US-China business council, Erin Ennis said more time may be needed to strike a deal, saying Trump needed to meet with Xi to seal the deal.

‘What I am sensing is there is a strong desire on both sides to reach an agreement,’ she added.

While Trump said he plans to meet with Xi at some point last week, he said he did not plan to meet with Xi before the March 1 deadline.

US stocks rally on Trump’s comments

US stocks rallied on Trump's comments with all three major indexes posting their biggest one-day gains in Feburary.

The Dow Jones Industrial Average snapped a four-day losing streak to rise 1.5% and the S&P 500 gained 1.3%.

Trump’s global trade war

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