Trump Spoke With China's Xi on Trade, Says Talks Going 'Nicely'

02 November, 2018, 15:57 | Author: Dave Hampton
  • Trump Spoke With China's Xi on Trade, Says Talks Going 'Nicely'

Chinese tech stocks traded in the U.S. are surging Thursday after President Donald Trump said he had a good trade talk with Chinese President Xi Jinping.

Trump said trade talks were "moving along nicely" and that meetings were "being scheduled" at the G-20 summit planned in Buenos Aires at the end of this month.

But Trump has not "set in stone" any decisions on escalating tariffs on Chinese goods and may withdraw some duties if there are promising policy discussions with China, White House economic adviser Larry Kudlow said on Wednesday.

The yuan is continuing to push forward with gains against the greenback as talks of a US-China trade resolution continues to fuel the rally seen in the past two days.

Trump said he and Xi plan to meet during a gathering of the Group of 20 major economies this month in Argentina.

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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 $500 billion-plus exports to the United States if the disputes can not be resolved.

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.

However, a senior Trump administration official on dismissed the report as untrue, a CNBC reporter said in a post on Twitter.

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

It was the fourth such case since September alleging Chinese espionage on US economic interests. The Chinese president also said he would like to meet Trump at the G20.

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"I hope that China and the USA will meet each other halfway and will appropriately handle their differences with mutual respect and equal cooperation", stated the Chinese premier.

'We do hope that China and the United States will meet each other halfway and work together in the spirit of mutual respect and equality, ' Li told Trump's fellow Republicans.

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

The two nations had already imposed tariffs on $50 billion of each other's goods before the September sanctions. China has responded with retaliatory duties on $110 billion worth of USA goods.

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