It’s good to talk, but US-China tensions are far from over

It’s good to talk, but US-China tensions are far from over

It’s good to talk, but US-China tensions are far from over

President Donald Trump expressed confidence he can reach a deal to end a burgeoning trade war with China, saying he will meet his Chinese counterpart at the Group of 20 meetings in Argentina in about a month.

Trump had earlier said on Twitter that he held a "very good" conversation with the Chinese president "with a heavy emphasis on trade".

"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.

The G20 summit will take place from November 30 to December 1.

The two heads of state think they should enhance trade relations, ministry spokesman Lu Kang told a daily news briefing.

The fight with U.S. President Donald Trump has added to pressure on communist leaders to rev up economic activity that has weakened since Beijing clamped down on bank lending a year ago to rein in surging debt. "President Xi Jinping also stressed that China-U.S. trade has always been serving as ballast and a stabilizer for China-U.S. relations". At time of writing, Trump is scheduled to meet Chinese authorities in a few weeks, with the potential outlook of a breakthrough in prolonged trade tensions representing an investment opportunity for financial markets to further unwind of United States dollars positions.

In their May telephone conversation, Xi and Trump set out to resolve their trade disputes, but the talks ended in stalemate and the first tariffs followed just weeks later. In a Fox News interview he said the USA is "not dependent on China economically".

Trump has imposed penalty tariffs of up to 25 percent on $250 billion of Chinese goods in a dispute over Beijing's plans for state-led development of technology industries. "We are not on the cusp of a deal", Kudlow said.

"Although China and U.S. relations have had their share of ups and downs, generally speaking, they have moved forward in the past four decades", Li said.

President Trump's comments came a day after a phone call with President Xi that he described as "very good".

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 thaw in relations comes after months of escalating tensions over trade that threatened to spill into other areas of disagreement, including China's military build-up in the South China Sea. He also accused China of unfair commercial practices.

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