The U.S. and China have advanced in trade talks through a three-way phone call between Treasury Secretary Steven Mnuchin, U.S. Trade Representative Robert Lighthizer, and Chinese Vice Premier Liu He.
The three discussed agricultural issues and possible changes to China’s industrial policy, its Made in 2025 plan, The Wall Street Journal reported.
The Trump administration has been especially critical of the policy, seeing as at the root of its broader disagreements with China. Trade talks are expected to begin in earnest next year with a trip by Liu to Washington.
“Very productive conversations going on with China! Watch for some important announcements!” President Trump tweeted Tuesday morning.
Trump has set a March 1 deadline of to reach a deal with China aimed at heading off a scheduled increase of tariffs on $200 billion in Chinese goods, from 10 percent to 25 percent. In exchange China made agreements to purchase an estimated $1.2 trillion in U.S. goods, the administration said.
The administration has wavered on how firm the deadline is. Chief Trump economic adviser Larry Kudlow said last week there was remove for flexibility if progress was being made. But Lighthizer, the lead negotiator for the U.S. side, indicated in a CBS interview Sunday the March 1 deadline is firm.
