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A source who listened to the briefing on the talks said Sunday that the United States and China seemed close to reaching an agreement and that the tariffs imposed by the United States on at least $200 billion of Chinese-made goods would be expected to be withdrawn, while Beijing promised structural economic reform and the elimination of retaliatory tariffs on American goods.
The Wall Street Journal (WSJ) reported Sunday that US President Trump and Chinese President Xi Jinping may reach a formal trade agreement at a summit on March 27, given the progress of trade negotiations between the United States and China.
In the eight-month trade war, the United States has imposed punitive tariffs on $250 billion worth of Chinese imports to the United States, while China has offered tariffs against $110 billion worth of American goods, including soybeans and other commodities. These actions triggered financial market shocks, disrupted manufacturing supply chains and hurt U.S. agricultural exports.
Trump administration officials said they expected U.S. and Chinese leaders to "finalize" the agreement at a summit in Haihu Manor, Florida, in the coming weeks.
Sources familiar with the talks said that the date of the summit has not yet been set, but China has reserved a 10-day window for a possible summit starting around March 20.
Many details remain to be resolved, including the terms of the enforcement mechanism to ensure that China meets its commitments, changes its policies to better protect American intellectual property rights, ends mandatory technology transfer and limits industrial subsidies.
Another source familiar with the negotiations said that the United States and China were close to reaching agreements on issues other than implementation mechanisms, including China's commitment to increase purchases of U.S. agricultural products, energy products and manufactured goods, and six structural policy reform agreements.


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