Postponed Again: Trade Deal With China Now "Tentatively" Set for May 27 or June

-edited

We now have a new tentative date for a trade deal with China: May 27 or Sometime in June.

The Wall Street Journal reports U.S., China Set Tentative Timeline for Next Round of Trade Talks.

Under the draft schedule, U.S. trade representative Robert Lighthizer is tentatively set to travel to Beijing the week of April 29, the person said, with Chinese envoy Liu He coming to Washington the week of May 6.

Talks are continuing, and U.S. and Chinese officials have missed previous deadlines aimed at finishing a deal. But if the senior officials succeed in reaching an accord, then officials from both countries could spend a couple of weeks wrapping up the agreement’s text and legal language before a hoped-for presidential signing ceremony as soon as Memorial Day [May 27], the person said.

Changing Schedule

  • In December: No later than March 1
  • On March 1: By the end of March
  • On April 4: After meeting with Mr. Liu in the White House. “Within the next four weeks or maybe less, maybe more, whatever it takes, something very monumental could be announced,” said Trump.
  • Today: Possibly as early as May 27. If not, then tentatively sometime in June.

I am glad to see we firmed up that date.

Meanwhile, please note Trump Asks China to Shift Soybean Tariffs to Something Else.

Mike "Mish" Shedlock

Comments (9)
No. 1-6
Carl_R
Carl_R

These things take time, Mish. After all, this isn't going to be some big deal, or even a regular monumental deal; it will be "Very Monumental", or at least, it could be. Or not.

thimk
thimk

musical tribute to the trade deal (maybe brexit also) . "somewhere over the rainbow"

Mish
Mish

Editor

yes, Carl, that sums it up - but bear in mind since Trump is involved it will be the greatest ever - by definition

Advancingtime
Advancingtime

China has little intention of altering its course and continues to concede little as trade talks drag on. Their goal is to wear-down the impatient Americans. There is even talk of not implementing the deal until 2025. This is totally insane and shows America has no stomach for playing hardball.

For proof China's strategy is working we need only look at how the White House delayed their planned tariff increase from 10% to 25% on $200 billion of Chinese goods. President Trump has tied so much of his success to climbing stock market valuations that he appears to be ready to capitulate and fold like a cheap umbrella. The article below delves into this subject.

Thomas Munn
Thomas Munn

because the US buys more goods from China than the next four largest buyers combined, I think the buying power of the US is the single biggest incentive to China to get a deal that's favorable to both sides. Dont underestimate the US.