Published: Sun, November 04, 2018
Economy | By

USA and China optimistic on trade, plan talks at G20 summit

USA and China optimistic on trade, plan talks at G20 summit

According to Trump, a lot of progress has already been made to help resolve the dispute between the two superpowers.

In an interview on Fox News Channel's "The Ingraham Angle" show on Monday, Trump did not specifically mention the potential withdrawal of tariffs, but said he expects "a great deal" with China. Trump has also threatened to extend the tariffs to all Chinese imports if the meeting in Argentina fails to produce "a good deal". We talked about many subjects, with a heavy emphasis on trade.

President Donald Trump looked to quell market jitters over escalating tariff war tensions with Beijing last night, after telling reporters that a trade deal between the United States and China is getting nearer.

Shi also said he thought China had only a limited role to play on the North Korea issue.

Jacob Parker, vice president of China operations at the U.S.

"We do hope that China and the United States will meet each other halfway and work together in the spirit of mutual respect and equality", Li told Trump's fellow Republicans.

"We will see what happens at the G20 and with Liu's talks, but I am not optimistic that anything momentous will come out of this", Zimmerman said.

A Chinese state-owned company was charged on Thursday with stealing technology from USA chipmaker Micron Technology Inc., part of a Justice Department crackdown against China in cases of suspected economic espionage.

Stocks surged in Hong Kong and China on the report of constructive talks between Trump and Xi, while the offshore yuan jumped as much as 0.5 percent for the biggest two-day gain since August.

President Trump on Friday signaled the getting closer to a trade deal with China. In Beijing Trump's move was seen as an insult to Xi, who sent a personal emissary to Washington for the negotiations, and cemented a view that Trump's real goal is to thwart China's rise.

Thursday's meeting was the first telephone conversation between the leaders in six months of which is openly reported. Washington, Europe and other trading partners say those violate China's market-opening obligations and some American officials worry they might erode USA industrial leadership. But Kudlow cautioned that Trump would "aggressively" pursue his agenda against China if no deals were reached on intellectual property theft, cybersecurity and tariffs on commodities, among other issues.

The president's remarks helped USA stocks to trim their losses on a day that started with market optimism over a Bloomberg report quoting unnamed sources as saying that Trump had ordered his cabinet to draw up terms for a China trade deal.

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