Published: Sat, November 03, 2018
Money | By Armando Alvarado

Trump expects 'very good' trade deal with China

Trump expects 'very good' trade deal with China

"I think we'll make a deal with China, and I think it will be a very fair deal for everybody", Trump said Friday at the White House before leaving for political rallies in West Virginia and Indiana.

'We talked about many subjects, with a heavy emphasis on Trade.

Asian markets enjoyed another rally earlier after Trump hailed positive talks with Chinese President Xi Jinping and a report said he had asked officials to draw up a draft bill ahead of a potential trade deal. He said China wanted to make a deal, adding, "They are not doing well".

The news agency said it was not clear if Trump was easing up on demands that China has resisted, and it cited one person as saying intellectual property theft was a sticking point on a possible deal.

Trump said he and Xi plan to meet during a gathering of the Group of 20 major economies this month in Argentina.

"There was the belief overnight that we were close to a trade deal with China and now it looks like that is not the case".

Despite the promise offered by the Trump-Xi telephone call, the level of tension between the two nations was demonstrated just hours after it ended when the USA filed charges against Chinese technology firm Fujian Jinhua Integrated Circuit Co and its Taiwanese partner.

Markets have soared on reports that the two sides are closing in on a deal that would avoid Washington piling on still more tariffs against Chinese imports.

The US president said talks were "moving along nicely" and that he planned to meet with Xi on the sidelines of the G20 summit at the end of November in Argentina.

LSU ranked #3 in 2018's first CFB playoff rankings
USC downed the Fighting Irish 45-27 in 2016, while Notre Dame clobbered the Trojans, 39-14 previous year . But does that record warrant putting LSU ahead of Notre Dame? The Wildcats are notorious for upsets.

Trump said in a television interview on Monday he thinks there will be "a great deal" with China on trade, but warned that he has billions of dollars worth of new tariffs ready to go if a deal isn't possible.

His administration has demanded that Beijing make sweeping changes to its policies on intellectual property protections, technology transfers, industrial subsidies and domestic market access, along with steps to reduce a $375 billion United States goods trade deficit with China.

"I agree, this phone conversation was an extremely positive phone conversation", Lu said at a regular briefing.

China and the United States are locked in an increasingly bitter trade war, with both countries have already placed tariffs on some of each others imports.

On Thursday Chinese Premier Li Keqiang also told a group of visiting USA politicians that China and the United States could overcome their differences and get relations back on track if they worked together in a spirit of mutual respect.

Tensions have increased in recent months with United States officials accusing China of meddling in the USA midterm elections, conducting cyber espionage and military aggression. It also fuelled speculation that Chinese Vice-Premier Liu He's trip to the United States, which had originally been scheduled for September but was cancelled due to the escalation of the trade dispute, might be back in the cards.

Trump has also threatened to impose tariffs on all remaining goods imports from China, which previous year were worth US$505 billion.

The United States has imposed tariffs on $250-billion worth of Chinese goods, with duties on $200-billion of the total set to increase to 25 per cent from 10 per cent on January 1, 2019.

For its part, Beijing has imposed tariffs on $110bn worth of USA goods.

Like this: