With word from the White House that China is backtracking on trade talks, the optimism of getting a trade deal done by next Friday is waning.
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“I think there's at least a 50/50 possibility of it at this point,” U.S.-China Business Council VP Erin Ennis told Fox Business’ “Countdown to the Closing Bell” on Tuesday.
The China delegation will be arriving in the U.S. for two days of trade talks this week and Erin believes they may make some headway.
“Probably the best we can hope for is that the two sides agree to an agreement in principle,” she said.
One of the biggest sticking points in the U.S.-China trade talks is cybersecurity. Ennis thinks there may be some aspects of it that can be part of the deal.
“Perhaps dealing with the regulation of cross boarder data flows or the localization of information” adding that, “China views cybersecurity issues as a national security issue just like the United States does and those tend to be the ones where movement forward is the most difficult.”
Chinese Vice Premier Liu He, who earlier was not scheduled to make the trip, is now expected in Washington D.C. this week.