“Sizable Distance” Remains Over U.S.-China Trade Accord
China and the U.S. are still far apart on an agreement to end their tariff war and have no high-level meetings planned to finalize a deal before a possible escalation three weeks from now.
#economics
China and the U.S. are still far apart on an agreement to end their tariff war and have no high-level meetings planned to finalize a deal before a possible escalation three weeks from now.
White House economist Larry Kudlow notes that President Donald Trump remains optimistic about a quick deal. But he tells Fox Business that a “sizable distance” remains between the two trade camps.
As for a meeting between Trump and China President Xi Jinping to finalize the deal, Kudlow says, “No date has been set, no time, no place, no nothing.”
The two leaders agreed in December to suspend further escalation of the tariff war and refocus on negotiation. Trump has threatened to ratchet up tariffs on $200 billion worth of imported Chinese goods from the current 10% to 25% on March 1 if the two countries fail to reach a meaningful deal.
RELATED CONTENT
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.