Published: Sat, November 03, 2018
Money | By Ralph Mccoy

Is there a Trump-China deal in the offing? We'll see

Is there a Trump-China deal in the offing? We'll see

Trump said in a tweet on November 1 that he had "a long and very good conversation" with Xi, offering some hope that trade tensions may cool after the G20 meeting.

Sterling jumped nearly two per cent on the report despite London and Brussels officials' reservations.

Xi said Thursday after speaking with Trump that he hopes China and the United States will be able to promote a steady and healthy relationship, Chinese state media reported.

The two leaders agreed to "strengthen economic exchanges", said a ministry spokesman, Lu Kang.

Trump said in a television interview on Monday he thinks there will be "a great deal" with China on trade, but warned that he has billions of dollars worth of new tariffs ready to go if a deal isn't possible. "But it will be a good deal for the United States".

At the same time he noticed that in case all goes well with trade talks with Beijing, the U.S. may lift tariffs against China. That will be led by the agency's National Security Division head, John Demers, and will increase the use of Justice Department tools to counter China's activities, the official said. "I am very cautious regarding the outcome of their meeting".

On Friday, Trump expressed confidence he can reach an end to the ongoing trade war with China, he says the protracted trade negotiations will soon come to a head when the two powers meet. Beijing would be unwilling to risk jeopardising its improving relations with Pyongyang and as a result had "very few tools to work with", he said. "We talked about many subjects, with a heavy emphasis on Trade".

A Justice Department indictment targeted two companies based in China and Taiwan and three individuals, saying they conspired to steal trade secrets from US semiconductor company Micron Technology Inc.

Lu Xiang, a specialist on United States affairs at the Chinese Academy of Social Sciences, said that Beijing had been preparing for a "worse than the worst" confrontation with the USA, and added that any further escalation would be fatal to an already highly volatile U.S. stock market.

"China does not want to see this", he said, according to Xinhua.

DECISION 2018: Early Voting Shows Republicans Out Voting Democrats
Florida voters are choosing whether their new governor should be Tallahassee Mayor Andrew Gillum or former U.S. The secretary of state's office predicts turnout will reach 30 to 35 percent on Election Day.

British manufacturing sector feels weight of Brexit uncertainty - USA
A number above the 50.0 level indicates industry expansion while a number below is consistent with contraction. Prior to September, the health of the sector had improved for 15 consecutive months.

Ridley Scott Goes Back to Rome for ‘Gladiator’ Sequel
According to Deadline , the director is set to take on the project for Paramount with a script to be written by Peter Craig . Apparently he tried to get his friend Nick Cave (yes, of The Bad Seeds ) to write the script for a sequel.

Tai Hui at JPMorgan Asset Management said a stabilising trade relationship between United States and China and more stimulus from Beijing would be the key ingredients to revive market confidence in Asia.

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

"He wants to do it", Trump said of Xi.

"Just had a long and very good conversation with President Xi Jinping of China".

Zimmerman also said that the announcement of the indictment against the Chinese tech company, which "was more of a political stunt than anything", would not bring the two countries any closer to resolving "a host of contentious issues".

"The Trump administration should not miscalculate China's tolerance for what they perceive as bullying tactics", he said. "The result is that the trust deficit widens".

The possibility of progress helped stocks rally overnight.

Analysts were mixed on the significance of Trump's latest move, with some viewing it as a positive sign of a breakthrough and others seeing it as a ploy to boost market sentiment ahead of midterm elections next week.

Still, investors cheered the resumption of dialog and a report that Trump was taking steps to resolve the tariff war, with shares in Asia hitting three-week highs on Friday and the dollar softening.

Jacob Parker, vice president of China operations at the U.S. And they're having a hard time, and they'll be fine, ' Trump said Wednesday.

Like this: