Trump predicts he'll make trade deal with China

Eileen GuzmanNov 04, 2018

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". "Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina", the president added, going on to mention that they had "had good discussion on North Korea!"

"We're doing a normal, routine run-through of things we already put together and normal preparation", Kudlow said on CNBC Friday.

The two leaders agreed the trade dispute "should be handled properly through substantial consultation", Lu said.

"This is pre-election hype created to make the markets happy; there is no imminent deal with China", Greg Valliere, the chief global strategist at Horizon Investments, told Business Insider.

President Trump said that if a deal is not made with China, he could impose tariffs on another $267-B in Chinese imports into the United States, adding that China's economy had "been hit very hard" by previous USA tariffs.

Pompeo's comments were the latest slur to come out of Washington, which has accused Beijing of meddling in U.S. politics, conducting cyber espionage against aviation firms and hacking Trump's iPhone.

Despite tariffs, he said USA economic growth expanded in the last two quarters and was on track to hit the Administration's 3 percent target for the full year.

Chinese President Xi Jinping and U.S. President Donald Trump on Thursday held a telephone conversation, speaking of bilateral trade and the Korean Peninsula issue while agreeing to meet bilaterally during the upcoming G20 summit in Argentina.

The comments appeared to be aimed at shoring up confidence among entrepreneurs who generate China's new jobs and wealth amid complaints Beijing is dragging its feet on economic reforms and reining in the dominance of state industry. This would also be seen as a major threat to the Dollars rally, meaning that this is the potential card to help encourage a jump in other currencies around the world, especially those in emerging markets.

China slapped the import tax on U.S. beans on July 6 and since then Chinese crushers have been avoiding buying U.S. beans, which normally supply 35-40% of Chinese worldwide demand.

The report said it was unclear if Trump was easing up on demands that have been resisted by Beijing, and cited one person as saying intellectual property theft is a sticking point on a possible deal.

"There's no massive movement to deal with China", he said.

Washington and Beijing have been locked in a trade war since July, slapping tariffs of up to 25 per cent on imports of each other's products. And I said, 'You're not ready yet.

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