Trump Confident of Fair Trade Deal with China

Trump Confident of Fair Trade Deal with China

China's foreign ministry on Friday said the call, which took place on Thursday, had been "extremely positive" and that the two leaders think they should enhance economic relations.

For its part, Beijing has imposed tariffs on $110bn worth of U.S. goods.

"It is now clear what adjustments we should make and what we should adhere to", Lu said.

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

Of course everyone would hope that we can continue to progress from trade tensions, but there is an air of caution that should still be used.

Disagreements on trade have "adversely affected" industries from both countries as well as global trade, Xi said.

Thursday's meeting was the first telephone conversation between the leaders in six months of which is openly reported. The United States has targeted $250 billion in Chinese products, and Beijing has lashed back by slapping tariffs on $110 million worth of USA goods. His critics say the trade pacts that he has so far completed, including a renegotiation of Nafta, represent little more than incremental improvements.

A key point of contention for the U.S. has been its allegations that China has engaged in widespread intellectual property theft.

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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.

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.

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

"I think that we will reach agreement with China, and I think it'll be a fair deal for all", said trump.

This comes shortly after the news yesterday that President Trump was quoted as saying that he and President Xi had a "long and very good" conversation while indicating in a Tweet that United States and China discussions on trade were progressing.

President Trump said a deal with China would also be good for Beijing.

Earlier on Thursday, Chinese Premier Li Keqiang told a group of visiting USA politicians that China and the United States could overcome their differences and get relations back on track if they worked together in a spirit of mutual respect. Trump has threatened to impose tariffs on another $267 billion in Chinese imports - a move that would cover virtually everything China ships to the United States.

Meeting a group of Republican lawmakers in Beijing, China's Li noted the China-U.S. relationship's "ups and downs" over the past four decades of diplomatic ties.

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