Trump: ‘Different structure’ likely for China trade deal

President Trump on Wednesday said that a trade deal between the U.S. and China will likely take on a “different structure.”

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“Our Trade Deal with China is moving along nicely,” the president tweeted, “but in the end we will probably have to use a different structure in that this will be too hard to get done and to verify results after completion.” 

Our Trade Deal with China is moving along nicely, but in the end we will probably have to use a different structure in that this will be too hard to get done and to verify results after completion.

— Donald J. Trump (@realDonaldTrump) May 23, 2018

The tweet comes as the Trump administration and China seek a deal on trade following weeks of tensions, tariffs and sanctions between the two countries. The president did not make clear what a “different structure” would look like.

Negotiators from Washington and Beijing are looking to avoid a full-blown trade war between the world’s top two economies.

The Trump administration has backed off of threats to impose tariffs on $150 billion in Chinese products after Beijing said it would buy more American agricultural and energy products.

Reports surfaced on Tuesday that U.S. and Chinese negotiators were nearing a potential deal that would lift a U.S. ban on American companies selling components to Chinese telecommunications giant ZTE.

A source told Reuters that there was a “handshake deal” to lift the ban and that an agreement could be clinched by next week.

Trump is facing backlash from Senate Republicans over his trade talks with China, which they see as delivering far less than he promised.

Several GOP senators say Trump has wound up on the losing side of the discussions and have been upset by his talk of lifting the sanctions on ZTE.

The Senate Banking Committee on Tuesday voted overwhelmingly in favor  of an amendment to block Trump from easing penalties on ZTE, which allegedly violated U.S. sanctions by selling equipment to North Korea and Iran. The panel’s action followed a similar vote by a House panel last week.