Published: Sun, November 04, 2018
Money | By Armando Alvarado

'I think we'll make a deal with China'

'I think we'll make a deal with China'

"Both leaders attach great importance to China-U.S. ties and economic ties", Lu said.

"China very much wants to make a deal", Trump told reporters in Washington just hours after his top economic adviser expressed caution about talk of a possible US-China trade agreement.

President Donald Trump has suddenly suggested that the USA and China could make a deal to end the trade war.

"The two countries' trade teams should strengthen contact and conduct consultations on issues of concern to both sides, and promote a plan that both can accept to reach a consensus on the China-US trade issue", Xi told CCTV state television.

Analysts said Trump could be simply trying to sooth investors and boost the stock market in the run up to the midterm elections by teasing a deal. "President Xi Jinping also stressed that China-U.S. trade has always been serving as ballast and a stabilizer for China-U.S. relations".

The president's remarks helped United States 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.

"Trump said the two countries have a chance to make a fair deal".

Just after the upbeat readouts of the Trump-Xi call, the Justice Department announced the latest in a long list of actions against what Trump administration calls China's cheating through intellectual property theft, unfair corporate subsidies and rules hampering U.S. corporations in China.

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Trump also voiced his support for the China International Import Expo (CIIE) to be held from November 5-10 in Shanghai, which is the first of its kind in China.

China also said that the telephone conversation was "positive". But most economic and trade analysts say it's unlikely that any deal with China is on the horizon.

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

Earlier, U.S. President said that he had fruitful talks with the Chinese President, during which they discussed trade relations between China and the United States.

The United States has imposed tariffs on $250 billion worth of Chinese goods so far, while China has retaliated with $110 billion worth of tariffs on U.S. goods.

"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", he added. That came after manufacturing surveys showed factory activity and export orders weakening across Asia as the impact of the trade war deepened.

The US this year has already imposed tariffs on $250 billion in trade with China.

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