Trump could let March 1 deadline for trade deal slide

The Trump administration is demanding far-reaching changes from China to address commercial practices that it says are deeply unfair

As top trade negotiators prepare to travel to China this week to continue talks, the White House is shedding some light about an anticipated summit between President Trump and his Chinese counterpart.

The operation was the US's latest attempt to counter what it sees as China's mission to limit freedom of navigation in the strategic waters where Chinese, Japanese and Southeast Asian navies operated. "But generally speaking, I'm not inclined to do that".

If the United States and China can not reach a deal by March 1, US tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent.

Senator Rob Portman, an Ohio Republican, said he discussed the U.S.

The Chinese foreign ministry on Monday said the People's Liberation Army Navy sent vessels to track the United States warships sailing near the Spratlys and warned them to leave the area.

Portman, who served as USTR during the George W. Bush administration, added that the Trump administration "is committed to structural reforms at this point" and Trump is less likely to settle for a deal mainly focused on increased purchases of US commodities. "I believe you all see through these small tricks by the USA side", Hua told a regular news briefing in Beijing.

President Trump has said he will not agree to any trade deal with China without meeting with President Xi first, though this meeting is not expected to happen before the March deadline.

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Trump said last week he did not plan to meet with Xi before the March 1 deadline.

In Washington, U.S. lawmakers reached a tentative deal on border security funding, though aides cautioned that it did not contain the $5.7 billion President Donald Trump wants to build a wall on the Mexican border.

On Wall Street, the Dow Jones Industrial Average rose 372.65 points, or 1.49 percent, to 25,425.76, the S&P 500 gained 34.93 points, or 1.29 percent, to 2,744.73 and the Nasdaq Composite added 106.71 points, or 1.46 percent, to 7,414.62.

Mid-level officials began discussions Monday in preparation for two days of talks starting Thursday involving U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He.

Lighthizer, who arrived at the hotel earlier in the day, did not answer reporters' questions.

The destroyers' transit on Monday took place as officials in Washington and Beijing negotiated trade talks. A round of talks at the end of January ended with some progress reported, but no deal and US declarations that much more work was needed.

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