U.S. rejects advance trade meeting with China

US President Donald Trump shakes hand with China's President Xi Jinping at the end of a press conference at the Great Hall of the People in Beijing

China "wants to make a deal", he said at the White House.

"If it's a good outcome, it doesn't just benefit the United States and China, but it is also good news for the world economy", said foreign ministry spokesman Lu Kang.

US President Donald Trump said Wednesday that Washington is doing "very well" in trade talks with China and that Beijing is keen to strike a deal ending their trade war.

In an apparent retort to such accusations, Wang said it was "imperative to respect national sovereignty and refrain from seeking technological hegemony, interfering in other countries' domestic affairs, and conducting, shielding or protecting technology-enabled activities that undermine other countries' national security".

The reports by the Financial Times and CNBC earlier sent US stocks sharply lower, reviving fears that efforts to resolve the US-China trade war could fail. "The two sides have remained in contact over trade talks, I haven't heard of any changes".

With a March 1 deadline approaching to reach an agreement or risk an escalation of tariffs on another $200 billion worth of Chinese goods, the two sides are still far apart on key, structural elements critical for a deal, according to sources familiar with the talks.

On Monday, China reported its weakest annual growth in almost three decades, hurt by rising USA tariffs, and the International Monetary Fund cited the trade war in downgrading its global 2019 outlook for the second time in three months. "But, you know, it's a very strong situation right now", he said.

The Chinese economy past year posted its slowest annual growth in almost three decades, according to official figures published Monday in Beijing.

A member of the U.S. delegation, under secretary for trade and foreign agricultural affairs Ted McKinney, told reporters that the team would return to the United States later on Wednesday.

"Cooperation is the best choice for both sides", Diao said, stressing Sino-US relations have made tremendous progress over the past four decades.

If both sides fail to reach a resolution to the trade war, United States duty rates on $200 billion in Chinese goods are due to rise to 25 percent from their current 10 percent, a prospect that has shaken markets in recent months.

Kudlow said Liu and his top deputy will come to Washington this month and that there's "no cancellation".



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