U.S. Reveals ‘Hard Deadline’ For Trade Deal With China

December 10, 2018 12:16 PM
U.S. Trade Representative Robert Lighthizer said March 1 is the deadline to finish on a trade deal with China.

Following the announcement at the G20 that the U.S. and China would spend 90 days working toward a trade agreement, speculation began to circle that 90 days wouldn’t be enough time to make meaningful change. Even President Trump alluded to the possibility of an extension last week, but over the weekend, U.S. Trade Representative Robert Lighthizer said March 1 is the deadline to finish on a trade deal with China.

“As far as I am concerned it is a hard deadline. When I talk to the president of the United States, he is not talking about going beyond March,” Lighthizer said on the CBS show, “Face the Nation,” referring to Trump’s recent decision to delay new tariffs while talks proceed. “The way this is set up is that at the end of 90 days, these tariffs will be raised.”

Lighthizer will be leading the negotiations for the U.S. Late last week, the Chinese Ministry for Commerce released a statement saying they are willing to work toward an agreement with the U.S. In fact, Reuters reports one of China’s foreign ministry spokespeople alluded to work already underway in Beijing to find agreement.

“We hope both can earnestly, with joint efforts, put into effect the consensus reached by the two countries’ leaders at the Argentina meeting,” Lu Kang said.

Lighthizer outlined several areas that the U.S. would need to see changes in during the coming weeks, including agriculture.

“We need agricultural sales and we need manufacturing sales. We need structural changes on this fundamental issue of non-economic technology transfer,” Lighthizer said.

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Spell Check

Plains, GA
12/10/2018 07:17 PM

  Commodity prices have sucked for years. The tariff talk has been underway not even a year. Sure the tariff talk isn’t helping prices in the short haul but it is definitely something that needs to be addressed. The hurricane is what will put a lot of young farmers in the southeast out of business. Every body so quick to blame trump for any and everything. Jesus Saves

pat ritz
akron, IA
12/10/2018 06:06 PM

  the tariffs have already destroyed a lot of young farmers. the middle aged farmers are slowly going broke. THE ONLY ones making it are very well established farmers and corporate farms. If everything is so great explain to the banker 3.50 cent corn and 8.30 beans isn't cutting it. need trade to survive. Tired of talk. Quit tweeting and start working with our trade partners.

Macon, IL
12/10/2018 04:32 PM

  I bet when all is said and done farmers suffer


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