Tuesday, 20 November, 2018

Trump asks officials to draft possible trade deal with China

Donald Trump said his Chinese counterpart Xi Jinping wants to make a deal to end an escalating trade war Donald Trump said his Chinese counterpart Xi Jinping wants to make a deal to end an escalating trade war
Nellie Chapman | 02 November, 2018, 13:41

The list would apply to imports from China that aren't already covered by previous rounds of tariffs, which may be $257 billion using last year's import figures, Bloomberg reported, citing people familiar with the matter.

In comments in state media, Xi said he hoped China and the United States would be able to promote a steady and healthy relationship, and that he was willing to meet Trump in Argentina.

President Trump has made very clear to China that they must change their "unfair" trade practices including theft of USA intellectual property. Afterward, Trump described the conversation as "long and very good" and said in a tweet that their discussions on trade were "moving along nicely".

"Rebuilt China", Trump told Breitbart at the time. 'But we have a chance to make a fair deal, because China has been hurting us and trade deals have been hurting us.

Earlier this week, prosecutors announced an indictment against 10 defendants, including 2 Chinese intelligence officers and other computer hackers and co-conspirators, who are all accused of breaking into American company computers to steal data on a turbo fan engine used in commercial jetliners. "We have a new deal", he said adding that the USA is now negotiating with the European Union, which "has absolutely hurt" the United States.

Xi on Thursday said he looks forward to meeting with Trump at the G20 in Argentina, according to China's state media.

But Trump struck a more affable tone on Twitter after the phone call with Xi.

Trump administration officials have said that trade talks with China can not resume until Beijing comes up with specific actions it is willing take to meet USA demands for sweeping changes to policies on technology transfers, industrial subsidies and market access. Both sides reported that they had constructive discussions on North Korea and trade, with Chinese state media saying that Trump supported "frequent, direct communication" between the presidents and "joint efforts to prepare for" the planned meeting on the sidelines of the Group of 20 summit, which is scheduled to take place from from November 30 to December 1.

"President Xi Jinping also stressed that China-U.S. trade has always been serving as ballast and a stabilizer for China-U.S. relations". "We talked about many subjects, with a heavy emphasis on Trade", said Trump.

But other signs of trade progress surfaced Friday.

"While we are still cautious over a full resolution of recent tensions in the medium term, resumption of dialogue between Washington and Beijing would be good enough to investors for now", he told Bloomberg.