January 17, 2019

Trump Tweets Trade Talks With Xi 'Moving Along Nicely'

02 November 2018, 03:58 | Austin Hogan

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

Asian shares have surged on reports that Donald Trump wants to reach an agreement with Chinese president Xi Jinping about the trade dispute that has dogged markets for months.

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. Trump said trade talks were "moving along nicely" and that meetings were "being scheduled" at the G20 summit in Buenos Aires. "We talked about many subjects, with a heavy emphasis on Trade", Trump tweeted.

"The sound and stable growth of China-U.S. relations serves the common interests and the fundamental interests of the people of our two countries", Li said.

Attorney General Jeff Sessions, center, announces the creation of a new initiative to crack down on Chinese intelligence officials pilfering intellectual property from USA corporations during a press conference in Washington, Nov. 1, 2018.

In comments to 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 with Trump in Argentina.

Asian stocks rose sharply on Friday on hopes of a trade deal between the United States and China.

Trump said he and Xi also had "a good discussion on North Korea".

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White House economic adviser Larry Kudlow downplayed reports President Donald Trump may implement more tariffs on China as the two nations' trade battle escalates.

But within hours of the upbeat assessments, the US Justice Department took aim at another Chinese firm it accused of unfair practices, part of an across-the-board pressure campaign by the Trump administration targeting Beijing.

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

Alexander said he would be discussing trade with Li, though neither of them mentioned the ongoing tariff war in remarks in front of reporters.

In recent months, China has repeatedly questioned the US's sincerity in trade talks, wary of agreeing to something only to have Mr Trump change his mind. 'But we have a chance to make a fair deal, because China has been hurting us and trade deals have been hurting us. China has responded with retaliatory duties on $110 billion worth of U.S. goods.

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