Thursday, 15 November, 2018

Trump, Xi upbeat on ending trade war

Trump, Xi upbeat on ending trade war Trump, Xi upbeat on ending trade war
Jodi Jackson | 02 November, 2018, 15:57

Trump's top economic adviser had said the two presidents were likely to meet at the end of this month at the conference for world leaders in Buenos Aires, however a firm commitment had not been made.

Stock markets in China gained on Friday after US President Donald Trump said trade talks with Beijing were "moving along nicely".

"I agree, this phone conversation was an extremely positive phone conversation", Lu said at a regular briefing.

The two countries already have imposed tariffs on hundreds of billions of dollars of each other's goods and Trump has threatened to slap tariffs on the remainder of China's $US500 billion-plus ($A690b) exports to the United States if the disputes can not be resolved.

The shares of Chinese companies have grown following news that US President Donald Trump is considering making a "great deal" with Beijing and that the Chinese government is considering a support program for private businesses.

The US and China's tit-for-tat tariffs on each other's goods have rumbled on for months as Trump pledges to help create more US manufacturing jobs.

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

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.

Xi also said he and Trump expressed hopes to expand bilateral trade cooperation, Xi was quoted as saying on CCTV state television.

On Thursday, the U.S. accused a Chinese state-owned company of conspiring to steal trade secrets of USA chip-maker Micron Technology Inc as part of a Justice Department crackdown against China in cases of suspected economic espionage.

Separately, the South China Morning Post - also citing unnamed sources - reported that Mr Trump had offered to host a dinner for the Chinese president after the G20 summit. And they're having a hard time, and they'll be fine, ' Trump said Wednesday.

However, the Trump administration is still set to slap tariffs on all Chinese imports if these talks fail.

On Wednesday, US Secretary of State Mike Pompeo said China was probably Washington's biggest long term security challenge and the United States was engaged in a "multi-pronged effort.to convince China to behave like a normal nation on commerce" and respect global law.

Tennessee Senator Lamar Alexander told Li that the delegation was there 'to show our respect to a great country and a great people, ' and that the two countries 'are competitors but not adversaries'. He said China wanted to make a deal, adding, "They are not doing well".

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