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Trump risks backlash in zeal for deal to end China trade war

04 November, 2018, 23:00 | Author: Sara Gill
  • Трамп США еще могут заключить сделку с Китаем

Bloomberg reported that Trump is interested in reaching a trade agreement with Xi at the Group of 20 nations summit in Argentina later this month and has asked key USA officials to begin drafting potential terms, citing people familiar with the matter.

This whole list is very important to the administration, Kudlow said.

"China very much wants to make a deal..."

"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.

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.

However, the remarks come just hours after Trump's senior economic adviser Larry Kudlow said that the United States was "not on the cusp of a deal".

Trump is planning to meet Chinese leader Xi Jinping at the Group of 20 (G20) summit in Buenos Aires later this month.

Despite tariffs, he said US economic growth expanded in the last two quarters and was on track to hit the Administration's 3 percent target for the full year. Beijing also emphasized that bilateral trade is in principle beneficial for both parties.


The Trump-Xi meeting would be the first since the two countries began hitting each other with import taxes earlier this year.

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.

President Trump says that China wants to make a trade deal with the U.S.

After the bell, though, shares of Apple tumbled about 7.0 percent after it said sales for the crucial holiday quarter could miss Wall Street expectations due to weakness in emerging markets and foreign exchange costs.

Mr Xi also emphasised creating a fair and competitive environment and tasked local governments with "correcting" the behaviour of certain government departments, as well as large companies that use their dominance to "bully" smaller ones.

"It is now clear what adjustments we should make and what we should adhere to", Lu said.

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

The comments follow on from months of tit-for-tat actions taken both by Washington and Beijing, which has amounted to billions of pounds' worth of tariffs being imposed on exported goods. According to Trump, a lot of progress has already been made to help resolve the dispute between the two superpowers. "I think only they can break the logjam".

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