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#US President Donald #Trump and Chinese President #XiJinping could reach a formal trade deal at a summit around March 27 given progress in talks between the two countries, according to the WSJ. #China would lower tariffs on U.S.-made goods including agricultural products, chemicals and cars in exchange for sanctions relief from Washington. As a part of the deal there would be a $18bn purchase of natural-gas from Houston-based #CheniereEnergy Inc. The United States is working to hammer out a detailed trade agreement with China that will include specific structural commitments, according to U.S. Treasury Secretary #StevenMnuchin.


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U.S. and China could reach #tradedeal at summit around March 27: WSJ
https://www.reuters.com/article/us-usa-china-trade/u-s-and-china-could-reach-trade-deal-at-summit-around-march-27-wsj-idUSKCN1QK0SW
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Treasury Secretary #StevenMnuchin said an overhaul of the #taxsystem, regulatory reform and better trade deals will help produce 3% U.S. economic growth within 2 years. The #Trump administration has placed an overhaul of the tax system - describing it as the biggest reform in history - at the top of its legislative agenda. A blueprint released last week includes proposals to slash taxes for business and individuals, simplify the system for filers and close loopholes for the rich, relying on faster economic growth to offset the losses from tax cuts. The goal is for a #taxreform package to be signed into law this year.


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Mnuchin Says Reaching 3% U.S. Economic Growth May Take Two Years
https://www.bloomberg.com/news/articles/2017-05-01/mnuchin-says-reaching-3-u-s-economic-growth-may-take-two-years
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Pledges from Beijing to buy more American goods and fix some economic structural issues are meaningless victories for the U.S. if Donald #Trump's administration doesn't also create ways to enforce a #tradeagreement with #China, according to Myron Brilliant, executive vice president and head of international affairs at the U.S. Chamber of Commerce.

Such measures are unlikely to be well received by the Chinese negotiators, and multiple media reports indicate that remains one of the biggest sticking points in the ongoing discussion. Still, Brilliant emphasized that the business community is hoping some sort of agreement will come together. Chinese Vice Premier #LiuHe will visit Washington on Thursday and Friday (Feb 21-22) to continue the talks. Liu will meet U.S. Treasury Secretary #StevenMnuchin and U.S. Trade Representative #RobertLighthizer.


#WorldEconomy #Protectionism #America #Globalisation #GlobalTrade #TradeWars #EconomicRisk #Economy #TradePolicy #InternationalTrade #TradeTariffs #Politics #Geopolitics #InternationalRelations #USA #GlobalTradeWar #EconomicColdWar #TrumpAdministration
US Chamber of Commerce: China #tradedeal 'fails' if Washington doesn't win enforcement measures
https://www.cnbc.com/2019/02/19/us-china-trade-war-deal-needs-enforcement-says-chamber-of-commerce.html

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