Published: Fri, November 02, 2018
Markets | By Noel Gibbs

Trump, Xi upbeat on ending trade war

Trump, Xi upbeat on ending trade war

Donald Trump and Xi Jinping expressed optimism ahead of meeting later this month in Argentina, with the US leader saying his Chinese counterpart wants to make a deal to end an escalating trade war. Both sides reported constructive discussions on North Korea and the trade, with Chinese state media saying that Trump supported "frequent, direct communication" between the presidents and "joint efforts to prepare for" the planned meeting on the sidelines of the Group of 20 summit.

"Positive comments from President Trump over US-China trade tension are cheering the market in the short term", said Tai Hui, chief market strategist for Asia Pacific at JP Morgan Asset Management.

Jacob Parker, vice president of China operations at the US-China Business Council in Beijing, said there were plenty of challenges that would require significant negotiations in advance of a meeting between Trump and Xi to ensure success.

Progress in US-China talks has stalled since May, when Trump put a stop to a deal that would have resulted in China buying more energy and agricultural goods to narrow the trade deficit.

Trump and Xi both expressed optimism about resolving their bitter trade disputes ahead of a high-stakes meeting planned for the two leaders at the end of November in Argentina.

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Three members of ASMLA remain under Danish police protection, as the "threats have not been eliminated", Andersen said. A Norwegian of Iranian origin was arrested on October 21 for allegedly planning the attack and spying for Iran.


The commodity has lost around 15 percent from four-year highs at the start of last month as Russian Federation and OPEC said they would bolster output and dealers grew concerned about the impact on demand from a trade war between China and the US.

The telephone conversation on Thursday was Trump and Xi's first publicly disclosed call in six months.

Xi responded to the call by saying he hopes China and the US will be able to promote a steady and healthy relationship, Chinese state media reported Thursday.

Mr Trump asked key Cabinet secretaries to have their staff draw up a potential deal to signal a ceasefire in an escalating trade conflict, the people said, adding that multiple agencies are involved in the drafting of the plan. It was unclear if Trump was easing up on U.S. demands that China has resisted.

"What they've done to our country is take out anywhere from $300 billion to $500 billion a year".

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Brent for January settlement rose 0.5 percent, or 36 cents, to $73.25 a barrel on the London-based ICE Futures Europe exchange. The December contract fell 44 cents to $75.47 before expiring on Wednesday.


"We have the capability and the wisdom to overcome barriers and push China-U.S. relations back to a normal track - this isn't just beneficial for both countries, but also the world".

"No country presents a broader, more severe threat to our ideas, our innovation, and our economic security than China", Wray said.

Alexander said he would be discussing trade with Li, though neither of them mentioned the ongoing tariff war in remarks in front of reporters.

In recent months China has repeatedly questioned the US's sincerity in trade talks, wary of agreeing to something only to have Trump change his mind.

One source said a sticking point in any deal was intellectual property theft, where the Trump administration has sought to take a hard line. 'But we have a chance to make a fair deal, because China has been hurting us and trade deals have been hurting us.

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Al-Qedra said that since the start of the marches, the Israeli army forces have killed 217 Palestinians and wounded 23,000 others. As long as the global community remains silent, the injustice suffered by the Palestinian people for decades will continue.


White House economic adviser Larry Kudlow said that Trump and Xi might be able to break the logjam on issues during the summit.

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