Top trade officials from the China and United State are meeting in Washington to discuss issues related to deal approaches. This is the second meeting since President Xi Jinping and Donald Trump had met in Argentina previous year and decided to discuss in the hope of declining the mounting tariff war.
There is extensive doubts that the two countries can influence an actual deal by the set deadline of 1st March. The current charges with respect to Huawei have combined to the complications.
The White House economic advisor Larry Kudlow and Capital Secretary Steven Mnuchin had a press conference in this week, they made some promises regarding trade deal.
Last week, the US Commerce Administrator Wilbur Ross stated that the two sides continued "miles and miles" away from each other.
President Donald Trump has blamed China’s growth as vendor for the cost of manufacturing and some other professions in the United States. United States is demanding China make variations to its financial strategies, which it says illegally favour domestic businesses through subsidies.
It has also suspected the government of supportive technology theft as part of its wider development plan.
The United States forced tariffs on US$ 250 billion cost of Chinese goods a previous year. China hit back US$ 110 billion of US goods.
The changes rattled economic markets and added to concerns about financial slowdown in both nations, especially in China.
That has created pressure for an agreement, but it remains undefined if the two countries will be able to face their variances.
If these two countries cannot reach the deal by 1st March, the US has alleged it will upsurge the tariff ratio from 10% to 25% on Chinese goods worth an estimated US$ 200 billion.