Carlos Barria | Reuters
China’s Vice Premier Liu He turns with U.S. Trade Representative Robert Lighthizer during a meeting with U.S. President Donald Trump in the Oval Office at the White House in Washington, February 22, 2019.
“I think we’re making a lot of progress,” Trump said, adding that there was a “very good chance a deal could be made.”
Liu echoed Trump’s outlook, saying that a trade deal was “very likely” from China’s perspective.
Markets, which initially pared their gains on reports of Trump’s remarks after the meeting with Liu, quickly recovered as both sides of the ongoing trade negotiations signaled that a trade deal was on the horizon.
U.S. Trade Representative Robert Lighthizer, who also attended the Oval Office meeting, said negotiations had moved forward, but noted that “a few very big hurdles” remained.
Trump also said he would be willing to extend the March 1 deadline previously set for the trade talks to conclude, “if I see substantial progress being made.” He added, “If we’re doing well, I could see extending that.”
While the two sides remain far from reconciling their disputes over forced technology transfers and what the U.S. alleges is China’s theft of its intellectual property, sources confirmed to CNBC on Friday that China has committed to buying $1.2 trillion in U.S. goods.
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