This Week's Three Scenarios For US-China Trade Talks | WHAT REALLY HAPPENED

This Week's Three Scenarios For US-China Trade Talks

This week will mark another round of talks between the United States and China in an attempt to resolve the ongoing trade war, after President Donald Trump and China's Xi Jinping ordered their officials to hammer out a deal by March 1 on "structural changes" to China's economic model.

Failure to reach an agreement will result in Trump raising the tariff rate on $200 billion in Chinese imports from 10 percent to 25 percent, and would "dash hopes of a lasting truce that would remove one of the darkest clouds hanging over the world economy," reports Bloomberg.

Starting Wednesday, US Trade Representative Robert Lightnizer will meet with Vice Premier Liu He in Washington for two days, building on negotiations ranging from soy beans to subsidies Beijing provides to various state-owned companies.

And while a final deal isn't likely this week, negotiators will hopefully produce a package of proposals to bring back to both administrations, said former Clinton Commerce official William Reinsch.

"Everybody’s divided, because President Trump is so unpredictable," said Reinsch.

"It’s probably 50-50 whether he’ll accept it."