Trump's chief of trade changes terminology after president contradicts him

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President TrumpDonald John Trump: Two-digit tax refunds, the IRS data indicate that the White House is warning Maduro while Venezuela orders the partial closure of the border with Colombia's administration. Trump sends 1,000 extra troops to the Mexican border MOREThe chief government negotiator agreed Friday to change the terminology that he uses about a trade deal with China after the president contradicted him at a meeting of the bureau oval.

Debate between Trump and US Trade Representative Robert LighthizerRobert (Bob) Emmet LighthizerTrump states that no discussion on the extension of trade negotiations with China should be extended. McConnell Urged GOP Senators to Call Trump About Tariffs Business Prepares for Trade Warfare MORE the meaning of a so-called memorandum of understanding, or MOU, taking place in front of cameras.

Trump, Lighthizer and Secretary of the Treasury Steven MnuchinSteven Terner MnuchinTrump plans to meet Chinese Xi next month to conclude a trade deal. US agricultural exports are expected to fall by nearly a billion dollars in a trade dispute between China and China. Huawei, CEO: the arrest of his daughter was "politically motivated" SUITE were among the participants in a televised discussion with a Chinese trade delegation on ways to end an economic quarrel with Beijing.

The discussion focused on the duration of the memoranda of understanding in a trade agreement. Memoranda of Understanding have been drafted on issues such as agriculture, currencies and intellectual property with a view to reaching a broader agreement.

Trump told reporters that they "would be in the very near future. I do not like memoranda of understanding because they do not want to say anything. For me, they do not want to say anything. "

"A MOU is a binding agreement between two people," said Lighthizer.

S addressing members of the media gathered in the Oval Office, he continued: "It's detailed. It covers everything in detail. It's a legal term. It's a contract.

"By the way, I do not agree," Trump replied. "I suppose we are doing a memorandum of understanding that will be put in final contact. But for me, the final deal is really the thing that Bob, and I think you mean too, is really the thing that means something. A memorandum of understanding is exactly that, it's a memorandum of what we understand. "

"The real question is, Bob … how long will it take for this to be included in a definitive contract?"

Lighthizer quickly adopted a new term after the president's reaction.

"From now on, we no longer use the word" memorandum of understanding, "" Lighthizer said. "We will use the term" trade agreement "… We will never use the protocol again."

Vice Premier Liu He laughed during the exchange.

Trump has shown a personal interest in formulating and presenting various agreements and commercial proposals throughout his term.

He persuaded Canada and Mexico last year to rename a revised trade agreement, the US-Mexico-Canada agreement, instead of the North American Free Trade Agreement. American.

The president would also have liked to call the GOP's 2017 tax reduction law the "Clauses Act," although it was eventually called the Tax Reduction and Reduction Act.

"The Trump administration initially chose MOUs because no truly binding agreement can be reached on the exchange rate or future major maize purchases. The technological coercion refused by China has never existed, "said Derek Scissors, a Chinese expert at the American Enterprise Institute Bloomberg News.

"If the administration decides to call it a binding trade agreement, members of Congress will want to vote. If they do not succeed, it seems like Obama does not want Congress to vote on the Iran nuclear deal. "

Friday's discussion in the Oval Office took place on Friday as Trump said he plans to hold a meeting with Chinese President Xi Jinping next month to finalize a trade deal between the United States and China that would avoid additional tariffs .

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