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staff president trump dashed hopes of a near resolution to the US China trade spat trump on Thursday said he will not meet with Chinese president xi Jim paying before March first ultimatum that's the deadline for deal not is reached by then then the US will raise tariffs on two hundred billion dollars worth of Chinese goods to twenty five percent rotors trade correspondent David Lauter the idea of the two presidents meeting %HESITATION would be an indication of real progress that that that the two sides have have come to essentially in agreement and all it takes is for the two leaders to get into a room together , you know cross the tease dot the I's and and finalize the deal the idea that they're they're not going to be meeting %HESITATION is an indication that there's a lot more work to do to get to that point and so maybe that they're not as close to a deal as as perhaps %HESITATION was indicated a week ago when they finish the last round of talks stocks dropped more than one percent across the board as word circulated from the trading floor investors fear any escalation in a trade war between the world's two biggest economies could spark a global economic slowdown White House economic adviser Larry Kudlow tried to downplay investor fears that the Beijing Washington trade deal is on the ropes the March first deadline is still intact and %HESITATION hopefully they will make some additional progress later adding presidents trump and she could meet at a later date , but that did little to sway investor sentiment investors are likely to remain nervous as negotiating teams prepare to meet next week in Beijing to hammer out a trade agreement before a do or die deadline