On Thursday, US president Donald Trump said that trade discussions with China were ‘moving along nicely’ and that he plans to meet with Chinese President Xi Jinping at the coming G-20 summit in Argentina after the two had what was described as a ‘very good talk’.
The meeting was scheduled with a primary focus on concerns about the escalating trade tensions between the world’s two largest economies, CNBC reported.
This news understand that earlier that day, Chinese Premier Li Keqiang told a group visiting the United States politicians that China and the US should overcome their differences and get relation back on track if only they agree to work together in a spirit of mutual respect, since both countries are locked in an increasingly bitter trade war which has influenced the deposition of tariff on each other’s imports.
Evidently, Trump has long threatened to impose tariffs on all $500 billion-plus goods that the United States has imported from China if Beijing fails to meet his demand for sweeping changes to its policies on intellectual property, technology transfers, industrial subsidies and local market access.
After the meeting, the president tweeted that he had just had an elongated but very good conversation with the Chinese President which places heavy emphasis on trade.
He added that “Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina. Also had good discussion on North Korea!”
Earlier this week, Trump said that he thought there would be ‘a great deal’ with China on trade, but warned that he had billions of dollars worth of new tariff ready to go if a deal did not materialize.
Nevertheless, it is still unclear how much progress Trump and Xi made towards breaking an impasse over how they will assuage Trump’s grievances with Beijing and move towards reducing tariffs, since neither party mentioned the ongoing tariff war in front of reporters.