Trump hails potential meeting with China's Xi to break trade logjam

Lloyd Doyle
June 11, 2019

China's foreign ministry said on Monday that China is open to more trade talks with Washington but has nothing to announce about a possible meeting.

Trump delivered his hardline message ahead of the G20 summit on June 28-29 in Osaka, which could mark a turning point in the trade dispute between the world's two biggest economies. Trump said on CNBC that the USA purposely isn't discussing one of the aspects of the agreement yet, claiming that it is another "very powerful tool" for the U.S.

Trump said a meeting with Xi has been "scheduled" during the G20 summit in Japan later this month, and that he expected the Chinese leader to attend.

"China is going to make a deal because they're going to have to make a deal", Trump said Monday.

"At the G20, at most it will be. some sort of agreement on a path forward, but certainly it's not going to be a definite agreement", Ross told CNBC.

"If we put a tax on China and if we don't buy it from China ... we can buy it from Vietnam, or some other guy, if there's a close substitute, then the harm to us is very small but the harm to them is very large", Hassett explained.

Last month, Nikkei Asian Review reported that Japanese electronics giant Ricoh will move production of its USA -bound printers from China to Vietnam.

On Monday, the Republican president said he would raise tariffs on Chinese imports further if he can not make progress in trade talks with Chinese President Xi Jinping at the G20 summit later this month.

"I think he's going, I haven't heard that he's not", the USA president told the channel. Beijing responded by raising tariffs on $60 billion of U.S. exports and escalating its anti-American propaganda. Several Japanese machinery manufacturers also said they would move some of its production lines out of China.

No talks are planned in Beijing or Washington before the Osaka event, U.S. Treasury Secretary Steven Mnuchin told reporters over the weekend.

"If the United States only wants to escalate trade frictions, we will resolutely respond and fight to the end". US officials have accused Chinese technology companies such as Huawei of stealing trade secrets and threatening cybersecurity - possibly at the behest of the ruling Communist Party.

President Donald Trump renewed his attack on the Federal Reserve, complaining it doesn't "listen" to him and contrasting that lack of obedience with the control that China's leader wields over its central bank.

On May 30, the Chinese government accused the United States of "economic terrorism".

Chinese authorities say the United States is exaggerating security concerns to block a potential competitor.

"People see 5G, but we see beyond that", he said.

Other reports by Iphone Fresh

Discuss This Article