Published: Sun, November 04, 2018
Money | By Wilma Wheeler

Trump Asks for Draft Trade Deal With China

Trump Asks for Draft Trade Deal With China

Over the past 24 hours, the White House has sent a flurry of mixed messages about the status of trade talks with Beijingamid an ongoing tit-for-tat that started with Trump's decision to tax billions of dollars worth of Chinese imports.

President Trump expressed confidence he can reach a deal to end a burgeoning trade war with China, saying he will meet his Chinese counterpart at the Group of 20 meetings in Argentina in about a month.

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

"We hope Canada is watching carefully at how successful negotiations can go", he said.

Trump told reporters in Washington that "I know they want to make a deal".

"At best, the parties are negotiating about negotiating and we are still miles from a deal", Boltansky said.

China's manufacturing sector in October expanded at its weakest pace in more than two years, hurt by slowing domestic and external demand, exacerbated by an intensifying trade dispute with the United States. "We really would like a deal with them".

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

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

The United States has already imposed tariffs on $250 billion worth of Chinese goods, and China has responded with retaliatory duties on $110 billion worth of USA goods.

Addressing the press at the White House, Trump said, "We've had a very good discussions with China, we're getting much closer to doing something".

Xinhua, China's state news agency, reported on Friday that Trump had told the Chinese leader that "he looks forward to meeting Xi during the G20 summit so they can have an in-depth discussion about some major issues".

Trump set up a call with Chinese president Xi Jinping on Thursday, the first between the leaders in six months.

The news erased early gains in USA stocks and a rally in global markets that had lifted emerging market stocks by their largest daily gain since 2016.

Trump revealed Thursday that he had spoken with Xi on several subjects, but focused on trade.

Trump has asked key Cabinet secretaries to have their staff begin drafting potential terms of a deal to stop the escalating trade dispute with Beijing, four people familiar with the matter said.

Will actively make us of foreign investment, safeguard foreign firms' interest in China.

The nation's economic situation is changing, downward pressure is increasing, and the government needs to take timely steps to counter this, according to a statement from a Politburo meeting Wednesday chaired by President Xi Jinping.

Like this: