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Trump says meeting with Xi before March 1 trade deadline is ‘unlikely’

Trump says meeting with Xi before March 1 trade deadline is ‘unlikely’

U.S. President Donald Trump said Thursday he does not plan to meet with Chinese President Xi Jinping before a March 1 trade deal deadline set by the leaders in an effort to end the tariff war between the countries.

Speaking to reporters at the White House on Thursday, Trump confirmed that no meetings between him and Xi were planned before the March 1 deadline for a deal.

Trump is also uncertain whether there will be a meeting scheduled next month.

Investor confidence dented as it became clear that a trade meeting between President Donald Trump and Chinese President Xi Jinping would not happen before a key March deadline.

However, Trump's recent comment had substantially aired negativity and dampened the hope of reform of quick trade pack, meanwhile impacting the global stocks dreadfully and fueling a steep slip in global stock markets including the United States & emerging market shares. "At some point the two presidents will meet, that is what Mr".

Trump has been saying.

White House officials have been cautious about conflating the trade and North Korea issues, despite China's invitation for Trump to meet Xi immediately after the U.S.

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ENERGY: U.S. crude lost 29 cents to $52.35 per barrel in electronic trading on the New York Mercantile Exchange.

As the March 1st deadline for ending a trade standoff between the United States and China looms, negotiations between the two countries are taking a serious turn even as top U.S. negotiators head to China next week to usher in the next phase of the negotiation process.

USA stocks fell sharply on Thursday as it became clear the meeting will not take place before the deadline. Markets in China were closed. Treasury Secretary Steven Mnuchin said Wednesday that he and Trade Representative Robert Lighthizer were going to China for another round of talks next week.

"I could see where that would impact the markets because, obviously, we had a lift in the month of January from optimism surrounding these trade talks", said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.

Lighthizer and Chinese Vice Premier Liu He met last week in Washington for trade talks.

As to whether the two leaders would meet before the deadline, the President said: "No". Still, he declined to say whether he expected negotiators to strike a deal before the end of the month, when Trump has said he will raise tariffs from 10% to 25% on US$200 billion in Chinese goods. The president has said repeatedly that the tariffs would go up if no deal has been reached, and that position has not changed, one source said.