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USA companies caught in the trade war are now anxious Trump will follow through on his initial threat to increase tariffs on US$200 billion of Chinese goods from 10 to 25 percent. "We need an agreement at the end of the 90-day period that specifically rescinds the tariff that China has imposed on USA soybean imports".

In his State of the Union address on Tuesday, Trump said a trade deal needed to include "real structural change to end unfair trade practices, reduce our trade deficit and protect American jobs".

Trump later confirmed the two leaders will not meet before the March 1 deadline of the tariff truce between the United States and China.

At the G20 summit in Argentina in December, Trump and Xi agreed to a 90-day truce to allow room for a new trade agreement.

"At some point the two presidents will meet, that is what Mr. Trump has been saying".

"If we do make headway, and the president thinks we're close enough that he can close the deal on major issues, then I think he'll want to have a meeting and do that", he told reporters.

In a normal year, China buys about 35 million tons of soybeans from the U.S. So far this year China's purchases have been 20 percent of what they were in the last marketing year, according to the American Farm Bureau.

Nancy Pelosi sparks meme frenzy during State of the Union
Many celebrated the images as an illustration of how far the U.S. had come in 100 years since women fought for the right to vote. Rosewarne said the impact of wearing white comes from women doing it in large numbers, as seen at the State of the Union.

"Whilst this is a bit of a blow, it's not in itself a reason to think trade talks are not going anywhere", said Neil Wilson, chief market analyst for Markets.com. Three sources familiar with the matter indicated that report was wrong.

His position, together with a threat to raise tariffs on more Chinese imports on March 2, may be a US tactic to extract concessions from China, especially in structural areas such as alleged intellectual property theft and forced technology transfer.

Trump is also uncertain whether there will be a meeting scheduled next month.

The March 2 tariff hike (if it happens) won't come as a surprise to the business world.

"Retailers are doing our best to mitigate the pain, but raising tariffs on thousands of consumers products causes massive disruption to retailers in an already uncertain environment", Hun Quach, Vice President for International Trade at the Retail Industry Leaders Association, told Supply Chain Dive in an email.

Lighthizer said last week that tariffs had not been a subject of the talks. -China trade negotiations, which Bowen said lead some companies to relax a bit and back off of their contingency planning.

"They're hoping for more success", he said.