China having hard time over trade war: Donald Trump

China having hard time over trade war: Donald Trump

"Xi said both he and Trump have good visions for a healthy, stable development of the China-US relations, as well as expanding economic and trade cooperation, and they should make efforts to realize the wishes", Xinhua said.

He said Trump said in a recent interview that if there are "promising policy discussions, I don't know about a full fledged deal, but if things go well, maybe some tariffs get withdrawn and maybe not". "We're not on the cusp of a deal".

The meal would give the two leaders more time to talk and create an atmosphere more conducive to negotiations, the sources said. Washington, Europe and other trading partners say those violate China's market-opening obligations and some American officials worry they might erode USA industrial leadership. This is not what China wants to see, said the Chinese president.

President Trump said that if a deal is not made with China, he could impose tariffs on another $267-B in Chinese imports into the United States, adding that China's economy had "been hit very hard" by previous U.S. tariffs.

Trump's posture toward China has been closely watched by investors, who are looking for the possibility of tensions cooling in their market-shaking trade war.

The US president said talks were "moving along nicely" and that he planned to meet with Xi on the sidelines of the G20 summit at the end of November in Argentina.

The president's remarks helped USA stocks to trim their losses on a day that started with market optimism over a Bloomberg report quoting unnamed sources as saying that Trump had ordered his cabinet to draw up terms for a China trade deal. We talked about many subjects, with a heavy emphasis on trade.

President Donald Trump has asked officials to draft terms for a potential trade deal with China following a phone call with leader Xi Jinping.

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Isaac Boltansky, a policy analyst at the research and trading firm Compass Point, told Business Insider that the complexity of the issues the U.S. and China are discussing - intellectual property rights, Chinese laws restricting how United States companies can operate in the country, and more - make a deal hard.

Earlier this week, Trump was quoted as saying Beijing wasn't ready to do a deal and he was prepared to slap more tariffs on China if his meeting with Xi was not productive.

"He wants to do it", Trump said of Xi. 1 summit of industrial and emerging market nations.

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 worldwide law. He also accused China of unfair commercial practices.

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

The US this year has already imposed tariffs on $250 billion in trade with China.

Trump imposed new tariffs on roughly half of Chinese imports this summer, while Beijing fired back with tariffs on most USA products. So talking about ending the battle could help Trump boost the market, which the president has made a key barometer of his success.

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