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US and China trade deal optimism

US and China trade deal optimism
Copyright REUTERS/Damir Sagolj/File Photo
Copyright REUTERS/Damir Sagolj/File Photo
By Louise Miner with Reuters
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President Donald Trump hopes to meet with Chinese President Xi Jinping next month in Florida and hopes to extend the March 1 tariff deadline.

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There seems to be optimism with the US and China regarding the trade deal.

President Donald Trump said there's "a very good chance" America would strike an agreement to end their trade war.

He hopes to meet with Chinese President Xi Jinping next month in Florida and extend the March the 1st tariff deadline.

It means Trump's threatened tariff increase to 25 percent from 10 on 200 billion dollars (176 billion euro's) of Chinese imports into the States, would prevent further escalation.

It has already disrupted commerce in goods and slowed down global economic growth.

Meanwhile, China has pledged to increase its purchases to reduce its trade surplus with the States.

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