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Trump to weigh limited trade deal with Beijing

Trump to weigh limited trade deal with Beijing

Mubasher: US President Donald Trump hinted that he would weigh an interim deal with China, according to CNBC.

“A lot of people are talking about it, I see a lot of analysts are saying an interim deal — meaning we’ll do pieces of it, the easy ones first [but] there’s no easy or hard,” President Trump was quoted by the media outlet.

While the US president prefers to clinch a full pact with China, he signalled the possibility of an interim one.

“There’s a deal or there’s not a deal [but] it’s something we would consider, I guess,” Trump said.

Negotiators from the world’s two biggest economies are scheduled to meet next week as they aim to salvage a trade deal to resolve a bitter conflict that has lasted for more than a year.

Washington announced on Wednesday that the tariff hikes for a $250 billion worth of Chinese goods to 15 October, instead of 1 October, in response to Beijing’s announcement that it would exempt 16 types of US products, a move which was deemed by Trump as “a gesture of goodwill.”

However, while he wants to ink a deal with Beijing to change trade practices, Trump downplayed the impact of trade war with China on consumers and the US economy, saying he is totally fine with keeping the duties in place.