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04 November 2018, 10:58 | Joann Bryant
Trump Confident of Fair Trade Deal with China
US PresidentDonald Trump said on Friday that he will likely make a deal with China on trade, adding that a lot of progress had been made to resolve the two countries' differences but warning that he still may impose more tariffs on Chinese goods. That came after manufacturing surveys showed factory activity and export orders weakening across Asia as the impact of the trade war deepened. However, he defended the president by calling him a "free-trader" who wants to get rid of all tariff and non-tariff barriers.
The world's two biggest economies are locked in a dispute over US complaints that China is using predatory tactics in a drive to supplant American technological dominance.
China's official Xinhua News Agency said that Xi accepted the call at Trump's invitation. And I said, 'You're not ready yet.
The upcoming CIIE has shown China's willingness to increase import and further expand its opening-up, Xi said, adding that he is glad to see many USA companies enthusiastically participate in the event. The administration has also demanded China end its aggressive policies such as cyber theft, forced joint ventures, and intellectual theft. "We are not on the cusp of a deal", Kudlow said.
"If they don't make a satisfactory offer, then the president will continue to aggressively pursue his agenda". "I think folks are anxious about".
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. "Their economy has been very, very bad".
During the meeting, the officials also agreed to reform World Trade Organization rules that are no longer effective to tackle practices that distort worldwide trade.
Trump and Xi are expected to meet later this month on the sidelines of the Group of 20 summit in Argentina.
The two sides have disagreed on trade issues for some time, Xi noted, saying that it has caused a negative impact on the relevant industries in both countries as well as on the global trade.
"The agenda is being discussed and worked on in both camps". Britain's FTSE 100 rose 0.7 percent to 7,168. He added that any deal reached must be "fair". "Also had good discussion on North Korea", he tweeted. "We talked about many subjects, with a heavy emphasis on Trade".
"Those discussions are moving along nicely", Trump wrote on Twitter on Thursday. "This is really important to American business and protecting the human capital, the talented work of American people, and national security", he said.
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