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Donald Trump tweet, report of draft trade deal send Asia markets soaring

03 November, 2018, 03:52 | Author: Sara Gill
  • US,China,Trump

Xi said Thursday after speaking with Trump that he hopes China and the United States will be able to promote a steady and healthy relationship, Chinese state media reported.

The commodity has lost around 15 per cent from four-year highs at the start of last month as Russian Federation and Opec said they would bolster output.

The US is preparing to announce by early December tariffs on all remaining Chinese imports if talks between Trump and Xi fail to ease the trade war, three people familiar with the matter said.

"Just had a long and very good conversation with President Xi Jinping of China", Trump tweeted Thursday morning.

"He wants to do it", Mr Trump said of Mr Xi.

"I think we'll make a deal with China, and I think it will be a very fair deal for everybody", Trump said Friday at the White House before leaving for political rallies in West Virginia and Indiana.

"Dollar moderation, the stabilising trade relationship between U.S. and China and more stimulus from Beijing will be the key ingredients to revive market confidence in Asia.

Rebuilt China", Trump told Breitbart at the time.


The Trump administration presented Chinese officials with a list of more than 140 demands during the first round of trade talks in May.

Kudlow believes that an economic downturn in China will have "very modest effect" on the US economy and small businesses.

Xi also said he and Trump expressed hopes to expand bilateral trade cooperation, Xi was quoted as saying on CCTV state television.

The two countries have imposed tariffs on hundreds of-billions of dollars of each other's goods and Trump has threatened to put tariffs on the remainder of China's $500-billion-plus exports to the United States if the disputes can not be resolved. "President Xi Jinping also stressed that China-U.S. trade has always been serving as ballast and a stabilizer for China-US relations".

A Justice Department indictment targeted two companies based in China and Taiwan and three individuals, saying they conspired to steal trade secrets from USA semiconductor company Micron Technology Inc.

Shi also said he thought China had only a limited role to play on the North Korea issue. He said further meetings with Xi are being scheduled for the G-20 summit of the world's biggest economies, set for November 30 in Buenos Aires, the first ever such summit in South America.

Beijing responded by introducing reciprocal tariffs on US-made goods.

One person said a sticking point in any potential deal is intellectual property theft, where the Trump administration has sought to take a hard line. Ten percent tariffs on US$200 billion in imports that took effect in September are due to increase to 25% on Jan 1.

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