"I'm not reversing course", Trump said of his decision to keep about 200 USA troops inside Syria after recently saying he would remove all American troopers. The US secured a currency pact in the new North American Free Trade Agreement with Mexico and Canada and has said it will seek similar commitments in future trade deals. "Perhaps and perhaps not".
On Friday, Trump and Mnuchin said USA and Chinese officials had reached an agreement on currency issues, but did not give details.
US officials contend China has so far failed to fulfill its pledges to deal with American concerns on the issues at the center of the trade war.
The Chinese government intervenes in foreign exchange markets to prevent the yuan from rising or falling in value too rapidly. Trump said he expected to meet Xi to work out the finer points of the deal.
Some analysts said the currency deal represents no real concession.
"The Chinese could agree to a lot of things and not deliver", Lardy said.
Still, the U.S. asked China to keep the value of its currency, the yuan, stable as part of trade negotiations between the world's two largest economies.
Mnuchin's comments came as reporters were allowed into part of an Oval Office meeting with President Donald Trump, Chinese Vice Premier Liu He and other officials from both countries.
Ahead of critical trade talks with China, US President Donald Trump is demanding America forge ahead in the tech race by jumping straight to sixth-generation mobile communications. Originally scheduled for two days, the talks are extended by two days till Sunday.
Lighthizer responded, contradicting Trump: "An MOU is a contract".
The two sides are also still haggling over much deeper reforms to China's economy, including addressing the alleged theft of intellectual property from USA companies operating in China.
And when President Xi met Arabella, who's the oldest (daughter of Ivanka Trump), he said this was like flawless Chinese at the time... Trump has been adamant any deal must include an end to "unfair" trading practices and Chinese theft of US intellectual property.
The United States is set to increase tariffs on $200 billion of Chinese imports to 25 percent from 10 percent unless Trump decides to delay it. The Dow is up almost 6 percent over the past month, a period that coincides with the president's increasingly positive statements about the likelihood of a deal. On behalf of himself and his wife Peng Liyuan, Xi also extended honest greetings and best regards to Trump, his wife Melania and other members of the U.S. First Family.
The Trump administration and Chinese negotiators resumed high-level talks Friday aimed at resolving a trade dispute that has escalated uncertainty for corporations, unsettled investors and posed a threat to the global economy.
Trump did not commit to extending the deadline on Friday but admitted progress had been made, including an agreement on currency manipulation.
They will continue meeting with the American delegation over the weekend and depart the US capital on Sunday evening or Monday, Trump told reporters, with Chinese Vice Premier Liu He also in attendance.
U.S. Agriculture Secretary Sonny Perdue called China's pledges to purchase U.S. agricultural produce premature. Liu also brought a letter from Xi where the President thaned Trump for the "lovely video" the Trumps' grandchildren made for Xi and his wife to mark the Chinese Lunar New Year. But bigger differences remain on changes to China's treatment of state-owned enterprises, subsidies, forced technology transfers and cyber theft of USA trade secrets.
"Both parties want to make it a meaningful deal" that is beneficial for both countries, Trump said.
HORSLEY: It's definitely something that's being felt both by American businesses and consumers that have to pay those tariffs, as well as by American exporters who are facing retaliatory tariffs on the Chinese side.
The commander in chief also was asked about his decision to leave some USA military troops in Syria, which a senior White House official confirmed Friday morning.
The two sides have had no agreement on an enforcement mechanism.
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