Thursday, 15 November, 2018

Trump Confident of Fair Trade Deal with China

China's economy is being damaged by its trade war with the US and a domestic debt cleanup Chinese tech stocks are going bananas after Trump said he had a 'good conversation' with Xi Jinping on trade
Elsie Buchanan | 04 November, 2018, 00:56

As reported by our site with reference to Voice of America, this statement was made by the President during a conference at the White house.

Trump said that in early October China wanted to come in and make a deal, but he told them they weren't ready.

The two countries have imposed tariffs on hundreds of billions of dollars of each other's goods and Trump has threatened to put tariffs on the remainder of China's $500 billion-plus exports to the United States if the disputes can not be resolved.

US President Donald Trump has signalled an end to an ongoing trade feud with China as US stocks plunge over mounting concerns over the fallout. "We're getting much closer to doing something", Trump said.

In comments to state media, Mr Xi expressed his hopes for a trade deal and said he was willing to meet with Mr Trump in Argentina.

The Trump administration has imposed tariffs on $250 billion worth of Chinese goods, and Trump has suggested that tariffs could be coming for all other Chinese imports, worth as much as $267 billion, not now subject to duties.

In their May telephone conversation, Xi and Trump set out to resolve their trade disputes, but the talks ended in stalemate and the first tariffs followed just weeks later.

Lu Xiang, a specialist on U.S. affairs at the Chinese Academy of Social Sciences, said that Beijing had been preparing for a "worse than the worst" confrontation with the United States, and added that any further escalation would be fatal to an already highly volatile USA stock market.

Donald Trump Responds to Oprah: Democrat Candidate for Georgia Governor 'Not Qualified'
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'China does not want to see this, ' he said, according to Xinhua. The Chinese "want to make a deal", he declared, adding: "Lots of great things are going to happen over the next short period of time".

Fujian Jinhua Integrated Circuit and Taiwan's United Microelectronics were indicted along with three individuals, the U.S. justice department said.

Donald Trump and Xi Jinping expressed optimism ahead of meeting later this month in Argentina, with the USA leader saying his Chinese counterpart wants to make a deal to end an escalating trade war.

Tokyo's benchmark Nikkei index surged 2.56 percent, while the broader Topix was up 1.64 percent, also on hopes of a breakthrough in US-China trade relations.

Citing people familiar with the matter, the report said it was unclear if Trump was easing up on demands that have been resisted by Beijing, and cited one person who said intellectual property theft was a potential sticking point in a deal.

Meanwhile, Chinese stocks have been under pressure this year amid trade conerns and slowing domestic economy.

Trump imposed new tariffs on roughly half of Chinese imports this summer while Beijing fired back with tariffs on most U.S. products.

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