Trump says he’ll meet China’s Xi at G-20 meeting

Roman Schwartz
November 4, 2018

But there remains plenty of reason for pessimism.

Despite the promise offered by the Trump-Xi telephone call, the level of tension between the two nations was demonstrated just hours after it ended when the United States filed charges against Chinese technology firm Fujian Jinhua Integrated Circuit Co and its Taiwanese partner.

"We're doing a normal, routine run-through of things we already put together and normal preparation", Kudlow said on CNBC Friday.

Kudlow, who heads the White House's National Economic Council, added that Trump wasn't making a promise, but giving a "very important hypothetical".

His administration has demanded that Beijing make sweeping changes to its policies on intellectual property protections, technology transfers, industrial subsidies and domestic market access, along with steps to reduce a $375 billion United States goods trade deficit with China.

"We're going to be fine regardless of what happens in Argentina", Navarro said, adding that trade talks with China are "more difficult" than those with other countries ranging from Japan to Canada. And he has previously made concessions to US adversaries that have drawn backlash from both Democrats and Republicans.

"Just had a long and very good conversation with President Xi Jinping of China". The decision was roundly lambasted in Congress.

"This is pre-election hype created to make the markets happy; there is no imminent deal with China", Greg Valliere, the chief global strategist at Horizon Investments, told Business Insider.

Trump said he and Xi also had 'a good discussion on North Korea'.

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

WASHINGTON-The White House's top economic adviser said on November 1 that if China does not come up with a satisfactory offer to meet US trade demands, then President Donald Trump will continue to aggressively pursue his agenda.

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

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"There's no massive movement to deal with China", he said. After their last publicly reported phone call in May, Trump rekindled trade talks by easing sanctions on Chinese telecom equipment maker ZTE Corp., only for negotiations to break down days later.

For its part, Beijing has imposed tariffs on $110bn worth of USA goods.

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. Trump has also threatened to extend the tariffs to all Chinese imports if the meeting in Argentina fails to produce "a good deal".

Hong Kong enjoyed its best percentage gain since December 2011.

Japan's Nikkei stock index was 2.4 percent higher.

Neither leader specified any details of potential progress in their first known direct discussion in several months.

The Trump Administration also has taken action to hit the Chinese semiconductor industry, indicting 2 companies accused of stealing trade secrets and banning United States software and equipment exports to 1 of them.

He didn't give details, but there have been few signs of movement in the trade dispute in recent months, and investors are getting nervous about the prospect of huge tariff increases.

Just after the upbeat readouts of the Trump-Xi call, the Justice Department announced the latest in a long list of actions against what Trump administration calls China's cheating through intellectual property theft, unfair corporate subsidies and rules hampering United States corporations in China.

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.

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