Published: Sun, November 04, 2018
Money | By Ralph Mccoy

the United States could trade with China

the United States could trade with China

-China trade talks can not resume until Beijing outlines specific actions it would take to meet US demands for sweeping changes to policies on technology transfers, industrial subsidies and market access.

The headwinds have increased with Trump's specific charge - publicly echoed by Vice President Mike Pence - that China is actively trying to interfere in the United States midterm elections, to be held on November 6.

In May, after his last phone call with Xi, Trump agreed to ease up on sanctions imposed on Chinese telecom equipment maker ZTE Corp., saying they would cost too many Chinese jobs. China also said that the telephone conversation was "positive".

Trump has imposed tariffs on $250 billion in Chinese imports, and has threatened to slap duties on everything else the country ships to the US But that would mean raising prices on billions of dollars' worth of consumer products, a category the administration has so far mostly avoided.

White House economic adviser Larry Kudlow told CNBC that while US President Donald Trump plans to meet Chinese President Xi Jinping later this month, he has not asked US officials to draw up a proposed trade plan, contradicting a report earlier in the day that had buoyed hopes of a resolution.

"We are getting much closer to doing something", Trump said.

"I know they want to make a deal", Trump said.

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US-China talks have made little progress since May, when Trump put a stop to a deal that would see China buy more energy and agricultural goods to narrow the trade deficit.

Jacob Parker, vice president of China operations at the U.S. "But China very much wants to make a deal", he said. Also had good discussion on North Korea!

Xi told Chinese state media on Thursday that he was willing to meet Trump at the summit and hoped to promote a steady relationship.

"Bilateral tensions over strategic issues such as Taiwan, the South China Sea and the arms race will continue and may be at risk of escalating", he said.

He added that any deal reached must be "fair".

"As the president said, we would like to talk to them about it, but they may not be ready".

The president's remarks helped USA stocks to trim their losses on a day that started with market optimism over a Bloomberg report quoting unnamed sources as saying that Trump had ordered his cabinet to draw up terms for a China trade deal.

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