Publicado: Sol, Noviembre 04, 2018
Financiera | Por Marilu Caballero

Trump predicts United States will strike trade deal with China

Trump predicts United States will strike trade deal with China

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

"I think we'll make a deal with China", Trump was quoted by The Hill as saying.

President Trump has made very clear to China that they must change their "unfair" trade practices including theft of USA intellectual property.

"The sound and stable growth of China-U.S. relations serves the common interests and the fundamental interests of the people of our two countries", Li said.

Trump imposed new tariffs on roughly half of Chinese imports this summer, while Beijing fired back with tariffs on most U.S. products.

"They are maybe too complex to be solved in just one meeting", he said.

Trump's comments came a day after a phone call with Xi that he described as 'very good.'. On the other hand, China chided the USA for indulging in "trade bullying". Japan's Nikkei index followed with a 2.4 percent rise and United States stock futures increased 0.7 percent, Reuters reported on Friday. At a campaign rally in Columbia, Missouri, on Thursday night he said, "They want to make a deal". We are much closer to doing something.

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On Thursday, Mr Trump spoke with his Chinese counterpart and raised the prospect of a deal to end a trade war.

The ruling party needs to nurture conditions to "let the private economy create vitality", said Xi in a speech Thursday to a group of entrepreneurs, according to the official Xinhua News Agency.

News signaling improvements in US-China ties, in turn buoying the markets, would provide the president a chance to vie for support in midterm elections Tuesday that will decide whether the Republicans keep control of Congress.

Tennessee Senator Lamar Alexander told the official the US and China are competitors not adversaries and suggested they can prosper together. "The result is that the trust deficit widens".

The prospect of some easing in the USA position initially lifted both United States and Asian stock markets. There was a also a strong gain of 3% for the export-oriented Kospi index in South Korea.

The announcement gave hope that any trade resolution later this month would result in China dropping its additional 25% import tariff on soybeans bought from the US. 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 Dollars positions.

"We hope Canada is watching carefully at how successful negotiations can go", he said. "We will see what happens Wednesday".

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