A summit for finalizing a trade deal between the President of China Xi Jinping and the President of the United States Donald Trump is not going to take place in March as discussed previously. This was announced by Steven Mnuchin, the Treasury Secretary, who also stated that the reason is that more work is necessary in the trade negotiations between the two nations.

Mnuchin also said that both nations have been working to finalize a deal as soon as possible. He mentioned that a lot of work was still left but that both sides were comfortable with the progress.

On the 1st of March, the US was supposed to place a tariff hike on Chinese goods. However, a round of talks was held in late February after which the hike was delayed. Since then, no new direct meetings have taken place or scheduled during the negotiations. Despite this, the Trump administration and the President himself have been trying to portray the negotiations as still making some progress.