US PRESIDENT Donald Trump said there was a "very good chance" the United States would strike a deal with China to end their trade war and that he was inclined to extend his March 1 tariff deadline and meet soon with Chinese President Xi Jinping.
US and Chinese negotiators had made progress and will extend this week's round of negotiations by two days through Sunday, President Trump told reporters, Reuters reported."I think that we both feel there's a very good chance a deal will happen," he said.
Said Chinese Vice Premier Liu He, who was also present: There had been "great progress. We believe it is very likely that it will happen, and we hope that ultimately we'll have a deal. And the Chinese side is ready to make our utmost effort."
President Trump said he probably would meet with President Xi in March in Florida to decide on the most important terms of a trade deal. Treasury Secretary Steven Mnuchin said the two sides had reached an agreement on currency.
President Trump appeared to clash with US Trade Representative Robert Lighthizer over the value of a Memorandum of Understanding, with Mr Lighthizer giving it substantial value while the president said only a binding contract had any value.
"I don't like MOUs because they don't mean anything," President Trump said. "Either you are going to make a deal or you're not."