The U.S. economy is operating at full steam, and can not easily ramp up to produce hundreds of billions of dollars' worth of goods.
He met with US President Donald Trump in the White House's Oval Office on Thursday.
Addressing the National Republican Congressional Committee spring dinner in Washington on Tuesday, Trump said Xi had denied he was a king. A fair deal, rather than one that gives one side or the other a short-term advantage, will best serve the interests of everyone.
The president's thirst for an agreement with China has grown since the stock market began sliding from its October peak.
Lagarde's warning follows a move by the World Trade Organization to slash its global trade growth projection for 2019 to the lowest level in three years, citing the impact of rising commercial tensions and tariffs.
The stock market's slide late past year increased the influence of market-friendly figures such as Treasury Secretary Steven Mnuchin, a former executive at the investment bank Goldman Sachs.
Vice Premier and Beijing's trade envoy Liu flew to Washington this week to continue hammering out trade negotiations.
Hopes that the talks were moving in a positive direction have cheered financial markets in recent weeks.
Earlier, Trump said that the negotiations were for an agreement covering the full range of U.S. concerns. China's rubber stamp legislative chamber, the National People's Congress, in March approved a new foreign investment law that the government claims will ensure all companies registered in China are treated equally.
Mar-a-Lago Arrest Raises Espionage, Security Concerns
Secret Service did not specify what kind of malware, though malware on USBs is also very common and not necessarily remarkable. It's not clear if the malware was purposely installed on the drive or if the USB had been infected without Zhang's knowledge.
Amazon is making its own version of AirPods for Alexa
The Beats Powerbeats Pro microphone array helps to lessen background noise, promoting greater voice clarity. The Powerbeats Pro have a fully wireless design and are designed for an active lifestyle.
Biden to Make 1st Appearance Since Complaints About Behavior
I've always thought of it as about connecting people - as I've said, shaking hands, hands on the shoulder, a hug, encouragement. Two days earlier, he posted an online video in which he promised to stop invading people's personal space.
When asked what is coming in the way of the deal, he said "It is enforcement".
Gregory Daco, chief United States economist at Oxford Economics, said in a report on Thursday, "A trade deal between the two economic giants would help alleviate global growth concerns, provide a much-needed global confidence boost and lift markets", the Associated Press reported.
Trump has previously threatened to impose punitive tariffs on all imports from China, more than a half-trillion dollars worth of products.
Washington wants Beijing to make changes to its economic policies, which it says unfairly favour domestic companies through subsidies and other support, and wants China to buy more United States goods to rein in a lofty trade deficit. If the two leaders decide to haggle in person over any final details, a third-country venue is more likely. Trump also said he looked forward to meeting with Xi.
Trade Representative Robert Lighthizer said there was still much to agree on, and White House trade official Peter Navarro said the hardest part of a marathon is always the last part.
Trump long has been an outspoken critic of Chinese trade practices. China is estimated to spend $168 billion, while Russian Federation is spending only $63 billion.
Meanwhile, American and European negotiators are at loggerheads over what to include in their own prospective trade deal.
"Trump is pressing China at the last stage of the talks, requiring it to offer greater concessions on market opening and strengthen the supervision over the implementation of promises", said Li Yishuang, a Shanghai-based economist at China Securities Finance Co. who specialises in worldwide trade. China is the biggest buyer of US soybeans, the bulk of which are genetically modified. This will help bolster farmers and other constituencies hurt by Trump's trade war and will help his aim of reducing the trade deficit with China. We want it to be a win-win for both countries.