Monday, 19 November, 2018

Shares soar as Trump hints at possible US-China trade deal

Changing China's economic model might ease external and domestic pressures on the economy Changing China's economic model might ease external and domestic pressures on the economy
Andy Castillo | 02 November, 2018, 15:55

Trump said on Twitter that trade discussions with China were "moving along nicely", and that he planned to meet with Xi on the sidelines of the G20 leaders summit, after the two had a "very good" phone discussion yesterday.

"I agree, this phone conversation was an extremely positive phone conversation", Lu said at a regular briefing.

But Trump has not "set in stone" any decisions on escalating tariffs on Chinese goods and may withdraw some duties if there are promising policy discussions with China, White House economic adviser Larry Kudlow said on Wednesday.

The shares of Chinese companies have grown following news that US President Donald Trump is considering making a "great deal" with Beijing and that the Chinese government is considering a support program for private businesses.

Though final decisions have not been made, US officials are preparing for such a scenario in case a planned Trump-Xi meeting yields no progress on the sidelines of a Group of 20 summit in Buenos Aires in November, according to the report.

The US and China's tit-for-tat tariffs on each other's goods have rumbled on for months as Trump pledges to help create more US manufacturing jobs.

Officials are working to resolve differences ahead of upcoming talks between President Trump and his Chinese counterpart Xi Jinping.

The two leaders agreed the trade dispute "should be handled properly through substantial consultation", Lu said.

Israel launches airstrikes on military targets in Gaza, no injuries reported
Some 80 Palestinian protesters were injured, on Monday, during the 14th naval march at the northern borders of the besieged Gaza Strip.

"I hope that China and the USA will meet each other halfway and will appropriately handle their differences with mutual respect and equal cooperation", stated the Chinese premier.

Xi was quoted by CCTV as saying after the call with Trump that the two leaders had hoped to expand trade cooperation. The Chinese president also said he would like to meet Trump at the G20.

Xi said he was "very happy" to talk to Trump again and attaches "great importance to good relations with the president", according to China's official Xinhua news agency.

Trump and Xi, in several reciprocal actions, have in recent months imposed higher tariffs on tens of billions of dollars of exports moving between the two countries, increasing tensions between Washington and Beijing. He said China wanted to make a deal, adding, "They are not doing well".

A Justice Department indictment targeted 2 companies based in China and Taiwan and 3 individuals, saying they conspired to steal trade secrets from United States semiconductor company Micron Technology Inc.

Tennessee Senator Lamar Alexander told Li that the delegation was there "to show our respect to a great country and a great people".

Alexander said he would be discussing trade with Li, though neither of them mentioned the ongoing tariff war in remarks in front of reporters.

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