Trump says he sees 'signing summit' with China on trade

[WASHINGTON] US President Donald Trump said Monday he expects a "signing summit" with China on trade, with negotiators "very, very close" to a deal.

Speaking at a meeting with US governors, Mr Trump said he expects trade negotiators to return quickly "and we're going to have another summit."

"We're going to have a signing summit, which is even better. So hopefully we can get that completed. But we're getting very, very close," he said.

Mr Trump said over the weekend that he'll extend a deadline to raise tariffs on Chinese goods beyond this week, citing progress in the latest round of talks that wrapped up Sunday in Washington.

"The US has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues," Trump said in a Twitter posting. "As a result of these very productive talks, I will be delaying the US increase in tariffs now scheduled for March 1."

China's official Xinhua News Agency echoed Trump's tweet, citing "substantial" progress. But a commentary published later cautioned that the talks may face "new uncertainties," noting that bilateral trade frictions are "long-term, complicated and arduous."

If the sides make further headway in negotiations, Mr Trump said he and Xi would meet at his Mar-a-Lago resort in Florida to conclude the agreement, though he didn't offer any details on when the meeting might be or how long he expects the tariff extension to last. Xi would be unlikely to be able to leave China before the end of the annual "Two Sessions" meetings, which are due to finish in the middle of March.

AFP,BLOOMBERG