China, US to push back Trump-Xi meeting to at least April

US stocks close higher; Boeing shares turn volatile

USA stocks were little changed in late afternoon trading on Thursday amid uncertainty over when a trade deal between the United States and China would be reached.

China's President Xi Jinping and U.S.'s Donald Trump will not meet this month to sign an agreement that will end the trade war.

Boeing, the single largest USA exporter to China, slipped 0.8 percent.

Mr Trump and Mr Xi were previously expected to hold a summit at the United States president's Mar-a-Lago property in Florida this month, but no concrete plans have been made in more than two weeks.

Trump acknowledged on Wednesday that Xi may be reluctant to come to the USA president's Mar-a-Lago estate in Florida without an agreement in hand after seeing Trump end a separate summit in Vietnam with North Korean leader Kim Jong Un without a peace deal.

He cautioned that "President Xi saw that I'm somebody who believes in walking when a deal is not done".

Mnuchin, speaking to reporters following a U.S. Senate Finance Committee hearing, said both sides were "working in good faith" to try to reach a deal "as quickly as possible".

U.S. plans to test missiles banned by INF Treaty in 2019
However, he thinks it could be possible that the Trump administration was simply arranging for an end of the INF treaty . The missile, which is believed to have a range of 1000 km (620 miles), would be tested in August.

So far, the USA has imposed tariffs on USD250 billion of Chinese imports. And if it's not, we're not going to make that deal. Tariffs imposed from both sides since past year are continuing to drag on the global economy with no end in sight.

New orders for manufactured durable goods in January increased 0.9 billion U.S. dollars, or 0.4 percent to 255.3 billion dollars, the Commerce Department said on Wednesday.

"It's an exciting time in terms of trade", Trump said.

China has not made any public statements on the next meeting between the Chinese president and Mr Trump so far.

The White House communications staff didn't immediately respond to a request for comment. Grassley said no agreements or conclusions were reached in the meeting. But he said he was in no rush to complete a trade deal with China. "We're going to go tariffs", said the US President. "The only big open issue right now that he could claim as a big win that he'd hope would have a big impact on the stock market would be a Chinese resolution". But he disagrees with Trump on the merits of tariffs.

The accord will include "very clear enforcement provisions and we want to get the agreement right", he said. I have a very good relationship with President Xi.

As to the reason why China and the US are postponing the signing of the agreement that will put an end to the trade war, Trump's trade representative Robert Lighthizer said that there are still some major issues to resolve including the intellectual property dealing.

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