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

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

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

Presidents Xi and Trump held a phone conversation on Thursday, with the United States leaders saying the call had "a heavy emphasis on Trade".

"Those discussions are moving along nicely", Trump wrote on Twitter. Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina.

The direct talks were the first between the two leaders to have been reported since May.

The meal would give the two leaders more time to talk and create an atmosphere more conducive to negotiations, the sources said.

Reports earlier Friday said that President Trump had asked officials to prepare a draft of a trade agreement with the world's second largest economy, prompting the Dow to rise.

A foreign ministry spokesman, Lu Kang, said, "I agree, this phone conversation was an extremely positive phone conversation". The positive news also boosted onshore yuan holdings to two-week highs at RMB6.9294 to the dollar and offshore rates at roughly RMB6.9264. "I am very cautious regarding the outcome of their meeting". Beijing would be unwilling to risk jeopardising its improving relations with Pyongyang and as a result had "very few tools to work with", he said.

"They are maybe too complex to be solved in just one meeting", he said.

In May, after his last phone call with Xi, Trump agreed to ease up on sanctions imposed on Chinese telecom equipment maker ZTE Corp., saying they would cost too many Chinese jobs. On Thursday, the U.S. accused a Chinese SOE of conspiring to steal trade secrets of United States chip maker Micron Technology as part of a USA justice department crackdown against China in cases of suspected economic espionage. Suddenly, talks of 7.00 has nearly all but evaporated and the surge higher in the yuan here will continue to give added backing to gains seen in the aussie and the kiwi ahead of the U.S. jobs report later. At a campaign rally in Columbia, Missouri, he added: "They want to make a deal".

"Opec and other major producers appear to have gotten the message from US President Donald Trump and increased production, but there are still questions on how much will the sanctions actually impact Iranian exports", said National Australia Bank senior forex strategist Rodrigo Catril.

President Donald Trump's steep tariffs on billions of dollars worth of Chinese products don't seem to be particularly effective at re-balancing trade.

China's Premier Li Keqiang (R) speaks next to Tennessee Senator Lamar Alexander (2nd R) during a meeting with a group of U.S. Republican senators and Congress members at Zhongnanhai leadership compound in Beijing, China, on November 1, 2018.

Both countries presidents have expressed optimism in resolving their issues.

It was unclear if Trump was easing up on United States demands that China has resisted. "The result is that the trust deficit widens". Cynics say Trump is trying to talk up the stock market ahead of this week's midterm elections. If you look at their economy, the Chinese economy is not doing well.

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