Trump seeks deal with Xi this month

Trump seeks deal with Xi this month

President Donald Trump wants to reach an agreement on trade with Chinese President Xi Jinping at the Group of 20 nations summit in Argentina later this month and has asked key United States officials to begin drafting potential terms, according to four people familiar with the matter.

President Donald Trump said Friday that he expects a budding US-China trade war to end with "a very good deal". 'Also had good discussion on North Korea!'

Meanwhile, Jake Parker, vice-president for China operations at the US-China Business Council, said that the presidents' telephone call created an opportunity for the two countries to discuss their many disputes - from the trade imbalance to China's forced technology transfers - but none of them would be easy to resolve. He said further meetings with Xi are being scheduled for the G-20 summit of the world's biggest economies, set for November 30 in Buenos Aires, the first ever such summit in South America.

"The Trump administration should not miscalculate China's tolerance for what they perceive as bullying tactics", he said.

Xi said he was "very happy" to talk to Trump again and attaches "great importance to good relations with the president", according to China's official Xinhua news agency.

President Donald Trump tweeted on Thursday that he had a "good conversation" with Chinese President Xi Jinping.

"He wants to do it", Trump said of Xi. "And let's see what happens", Trump said at a White House event. "China would love to make a deal", Trump told Breitbart at the time.

Chinese state media said Trump also expressed support for a conference in Shanghai next week that Xi is using to promote the country as an import destination.

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.

It comes ahead of a key meeting between Mr Trump and China's President Xi Jinping at the G20 summit this month. Suddenly, talks of 7.00 has nearly all but evaporated and the surge higher in the yuan here will continue to give added backing to gains seen in the aussie and the kiwi ahead of the USA jobs report later.

Attorney General Jeff Sessions, center, announces the creation of a new initiative to crack down on Chinese intelligence officials pilfering intellectual property from US corporations during a press conference in Washington, Nov. 1, 2018. Ten percent tariffs on US$200 billion in imports that took effect in September are due to increase to 25% on Jan 1. And we're changing them'.

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