INSUBCONTINENT EXCLUSIVE:
Donald Trump's aggressive strategy has failed to produce a reduction in the US trade deficit with ChinaUS President Donald Trump said
Tuesday he would consider extending the deadline for a trade deal with China beyond March 1."If we're close to a deal, where we think we can
make a real deal I could see myself letting that slide for a little while," Trump told reporters at the White House.But he added: "Generally
speaking I'm not inclined to do that."The comments came as the third round of trade negotiations were set to resume in Beijing to avert more
than doubling tariffs on $200 billion in Chinese imports."China wants to make a deal very badly," he said, and "things are going well" in
And while no date has yet been agreed for a meeting with China's President Xi Jinping, he said he expects that to happen "at some point."The
high-stakes dispute has raised concerns it could spill over into the global economy after Trump last year hit China with 25 percent punitive
tariffs on $50 billion in goods, and then imposed 10 percent duties on another $200 billion in annual imports.The rate on all those imports
are set to increase to 25 percent if no agreement is reached by March 1.China's economy already has shown signs of slowing, while the trade
war has shaken the confidence of US businesses, as retaliatory tariffs have raised prices and helped choke off a key export market.And
Trump's aggressive strategy has failed to produce a reduction in the US trade deficit with China, which he set as a primary goal.He repeated
the incorrect statement that China is paying the duties, which in fact are paid by US companies importing goods.And economists say much of
the intended effect of the duties in reducing imports, has been offset by the devaluation of China's currency, which makes goods cheaper for
importers.(This story has not been edited by TheIndianSubcontinent staff and is auto-generated from a syndicated feed.)
