US President Donald Trump says could extend China trade talks deadline

An MH-60R Seahawk attached to the

An MH-60R Seahawk attached to the"Warbirds of Helicopter Maritime Strike Squadron 49 flies over the guided-missile destroyers USS Spruance and USS Momsen in July 2016. (U.S. Navy

Investors will be looking to see if both sides can hammer out a deal before a March 1st deadline to avert higher US tariffs on Chinese goods.

"The key is whether the USA and China can find common ground", said He Weiwen, a former commerce ministry official and now a senior fellow at the Center for China and Globalization, an independent research group.

U.S. President Donald Trump said on Tuesday that he could see letting the March 1 deadline for reaching a trade agreement with China slide a little, but that he would prefer not to and expects to meet with Chinese President Xi Jinping to close the deal at some point.

Mnuchin, asked by reporters as he left his Beijing hotel what his hopes were for the visit, said "productive meetings".

The dispute has escalated to encompass $360 billion in trade between the two economic superpowers, and without an agreement by the start of March, the Trump administration is poised to more than double the punitive duties on $200 billion in Chinese goods.

Trump said talks in Beijing are "going well", but acknowledged bilateral talks between him and Xi are unlikely to come to pass before the current March 2 deadline.

Air New Zealand flight to Shanghai forced to turn back
On another hand, this would not be the first time Taiwan-China question is causing a massive headache for airlines. White House called "Orwellian nonsense".

While China has offered to buy more United States soybeans and beef, officials have yet even to agree on a draft of a deal that would address key USA concerns, according to media reports.

Mnuchin and Lighthizer are scheduled to hold talks on Thursday and Friday with Vice Premier Liu He, the top economic adviser to Xi.

The talks kicked off in Beijing with discussions among deputy-level officials on Monday before minister-level meetings later in the week.

Washington is expected to keep pressing Beijing on long-standing demands that it make sweeping structural reforms to protect American companies' intellectual property, end policies aimed at forcing the transfer of technology to Chinese companies, and curb industrial subsidies.

U.S. Secretary of State Mike Pompeo cautioned allies on Monday against deploying equipment from Chinese telecoms giant Huawei on their soil, saying it would make it more hard for Washington to "partner alongside them".

Both the Chinese government and Huawei have dismissed these concerns.

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