Trump Discusses Trade Issues With China's Xi

Gladys Abbott
November 2, 2018

US President Donald Trump and Chinese President Xi Jinping both expressed optimism on Thursday about resolving their bitter trade disputes ahead of a high-stakes meeting planned for the two leaders at the end of November in Argentina.

The two leaders had a telephone call on Thursday, which Trump described as "long and very good", and said in a tweet that their discussions on trade were "moving along nicely".

Xi said Thursday after speaking with Trump that he hopes China and the United States will be able to promote a steady and healthy relationship, Chinese state media reported.

Tai Hui at JPMorgan Asset Management said a stabilising trade relationship between U.S. and China and more stimulus from Beijing would be the key ingredients to revive market confidence in Asia.

In the phone call with Trump, Xi also said he and Trump hoped to expand bilateral trade cooperation, he was quoted as saying on CCTV state television.

It was the fourth such case since September alleging Chinese espionage on USA economic interests.

Trump said the American economy is doing well and he has been receiving congratulatory message from across the world.

It was unclear if Trump was easing up on US demands that China has resisted. "We have a new deal", he said adding that the U.S. is now negotiating with the European Union, which "has absolutely hurt" the United States.

China and the United States should work together to get their relations back on track, China's premier said in Beijing on Thursday, ahead of the U.S. midterm elections and a possible meeting between presidents Xi Jinping and Donald Trump.

More news: USA blocks exports to Chinese chipmaker as tensions simmer

"It is possible some good positive things could - I say could - come out of President Trump-President Xi talks".

Earlier on Thursday, Chinese Premier Li Keqiang told a group of visiting U.S. politicians that China and the United States could overcome their differences and get relations back on track if they worked together in a spirit of mutual respect.

US-China talks have made little progress since May, when Trump put a stop to a deal that would see China buy more energy and agricultural goods to narrow the trade deficit.

The two countries have been locked in an escalating trade battle, with each side imposing tariffs on billions of dollars worth of imports from each side.

Tennessee Senator Lamar Alexander told Li that the delegation was there "to show our respect to a great country and a great people".

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

"China wants to make a deal".

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. And they're having a hard time, and they'll be fine.

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