Thursday, 15 November, 2018

Trump Asks Cabinet to Draft Possible Trade Deal With Xi

To Trump's trade czar the key to boosting U.S. industry is playing hardball with China Chinese tech stocks are going bananas after Trump said he had a 'good conversation' with Xi Jinping on trade
Orlando Vargas | 02 November, 2018, 14:28

President Trump says his discussions with his Chinese counterpart are moving along "nicely" ahead of their planned meeting at the G-20 in Buenos Aires at the end of the month.

The telephone conversation on Thursday was Trump and Xi's first publicly disclosed call in six months.

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 yuan had come under intense pressure to weaken of late, as slowing growth in China and trade tensions with the US prompted investors to shift away from riskier emerging-market assets.

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

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 US goods.

If you look at their economy, the Chinese economy is not doing well.

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

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The Trump administration has imposed tariffs on $250bn of trade with China this year and has threatened to hit all imports from China, which were worth $505bn last year.

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.

Federal Bureau of Investigation director Christopher Wray said the US has filed a civil lawsuit seeking to prevent the two indicted companies, Taiwan-based United Microelectronics Corp. and China's state-owned Fujian Jinhua Integrated Circuit, from exporting any products created using USA trade secrets and blocking the further transfer of trade secrets.

Alexander was quoted as telling Li that the two countries were "competitors but not adversaries" and that their mutual interests outweighed their conflicts.

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

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.

Pompeo's comments were the latest slur to come out of Washington, which has accused Beijing of meddling in USA politics, conducting cyber espionage against aviation firms and hacking Trump's iPhone. At a campaign rally in Columbia, Missouri, on Thursday night he said, "they want to make a deal". And they're having a hard time, and they'll be fine, ' Trump said Wednesday. "I don't think they're ready yet".

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