Monday, 19 November, 2018

Trump says 'I think we'll make a deal with China' on trade

China,Economy,Xi Jinping Chinese tech stocks are going bananas after Trump said he had a 'good conversation' with Xi Jinping on trade
Scott Davis | 04 November, 2018, 09:54

Trump said that if a deal is not made with China, he could impose tariffs on another $267 billion in Chinese imports into the United States, adding that China's economy had "been hit very hard" by previous U.S. tariffs.

Xi on Thursday said he looks forward to meeting with Trump in Argentina and hopes the two sides build stable relations, according to China's state media.

Washington and Beijing have been involved in a bitter trade conflict, with US President Donald Trump heavily criticizing China's large trade surplus with the United States and issues related to intellectual property theft that Beijing has consistently denied.

"Those discussions are moving along nicely", Trump wrote on Twitter.

Separately, the South China Morning Post - also citing unnamed sources - reported that Mr Trump had offered to host a dinner for the Chinese president after the G20 summit.

Stock markets around the world climbed Friday on optimism about a potential ceasefire in the trade war between the United States and China.

"We are not on the cusp of a deal", Kudlow said.

"He wants to do it", Trump said of Xi.

On Thursday, Mr Trump spoke with his Chinese counterpart and raised the prospect of a deal to end a trade war.




The Trump administration says it's trying to pressure Beijing to make deep changes to its economic policies, accusing it of overseeing the theft of U.S. intellectual property and unfairly boosting Chinese companies through aggressive industrial programs.

However, Wall Street took a dive yesterday, partly in response to a statement by Kudlow pouring cold water on any breakthrough on a US-China agreement.

Xi also made clear the party's willingness to help clear up problems such as financing for entrepreneurs, said Lu.

Hours later, however, the US Justice Department accused another Chinese firm of unfair practices, part of an across-the-board pressure campaign by the Trump administration targeting China.

There was a moment of uncertainty Thursday afternoon, when United States attorney Jeff Sessions unveiled the latest of a series of charges of Chinese theft of U.S. trade secrets.

"We're getting much closer to doing something".

Xi was quoted by CCTV as saying after the call with Trump that the two leaders had hoped to expand trade cooperation. "They are very willing to make a deal", said trump. Trump said trade talks were "moving along nicely" and that meetings were "being scheduled" at the G20 summit in Buenos Aires.

China's Premier Li Keqiang, right, speaks next to Tennessee Senator Lamar Alexander during a meeting with a group of U.S. Republican senators and Congress members at Zhongnanhai leadership compound in Beijing, Thursday, Nov. 1, 2018.

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