the United States could trade with China

04 November, 2018, 14:42 | Author: Eric Barnett
  • Kudlow less optimistic about US-China trade deal

Trump has long threatened to impose tariffs on all $500 billion-plus goods imports from China if Beijing fails to meet his demands for sweeping changes to its policies on intellectual property, technology transfers, industrial subsidies and local market access. "They very much want to make a deal", Trump said. "But China very much wants to make a deal", he said.

But there remains plenty of reason for pessimism.

"The two leaders agreed to strengthen economic exchanges", he said, though he gave no indication of whether they had made any progress on settling the trade dispute.

But Larry Kudlow, Trump's top economic adviser, sounded a more cautious note on CNBC Friday. "OK, there's no mass movement, there's no huge thing, we're not on the cusp of a deal".

"There was the belief overnight that we were close to a trade deal with China and now it looks like that is not the case". We talked about many subjects, with a heavy emphasis on Trade. His critics say the trade pacts that he has so far completed, including a renegotiation of Nafta, represent little more than incremental improvements.

Jacob Parker, vice president of China operations at the U.S. The decision was roundly lambasted in Congress. "Also had good discussion on North Korea", he tweeted.

And Trump's history of reneging on agreements is presumably well understood in Beijing.

Asian shares have surged on reports that Donald Trump wants to reach an agreement with Chinese president Xi Jinping about the trade dispute that has dogged markets for months.

Trump revoked his government's support for a joint statement following the G7 conference in Canada after Canadian Prime Minister Justin Trudeau criticized United States steel and aluminum tariffs.

"We will see what happens at the G20 and with Liu's talks, but I am not optimistic that anything momentous will come out of this", Zimmerman said.


"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.

Much remains unclear about Trump's posture toward China.

A Chinese state-owned company was charged on Thursday with stealing technology from U.S. chipmaker Micron Technology Inc., part of a Justice Department crackdown against China in cases of suspected economic espionage.

The possible meeting between Xi and Trump in Buenos Aires is being broached amid growing trade tensions between the two countries after Washington imposed tariffs on tens of billions of dollars of Chinese imports and Beijing responded in kind against U.S. exports. The Hang Seng Index rose 4.2 percent, the biggest gain since 2011, and the Shanghai Composite Index climbed 2.7 percent, posting a fourth day of gains for its longest winning streak since February.

Earlier this week, Trump said he thought there would be "a great deal" with China on trade, but warned that he had billions of dollars worth of new tariffs ready to go if a deal did not materialize.

The direct talks were the first between the two leaders to have been reported since May. Washington, Europe and other trading partners say those violate China's market-opening obligations and some American officials worry they might erode US industrial leadership.

The president added that he would have a dinner with Xi at the G20 summit, wherein they would be discussing the issue.

He added that any deal reached must be "fair".

Trump's posture toward China has been closely watched by investors, who are looking for the possibility of tensions cooling.

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