Trump Says He’s ‘Very Close to Doing Something’ on China Trade

Trump Says He’s ‘Very Close to Doing Something’ on China Trade

Trump Says He’s ‘Very Close to Doing Something’ on China Trade

"But, frankly, I like the deal we have right now", the president continued.

US and Chinese officials have been working for weeks on the contours of a possible deal for the two leaders to be announced following their dinner on Saturday on the sidelines of the Group of 20 summit in Buenos Aires and a road map for talks to follow.

New talks would focus on what both sides are calling trade "architecture", a broad term that could encompass many issues the USA has wanted Beijing to address, including intellectual property protection, coerced technology transfer, subsidies to state-owned enterprises, and even non-trade issues such as cyberespionage. Similar proposals were blasted by conservatives as proposals to "turn the United States into a agricultural colony of China". Trump has imposed tariffs on $250 billion worth of Chinese imports to force concessions on a list of demands that would fundamentally change the two countries' terms of trade.

In an interview with Argentine daily La Nacion, the French president warned against the risk of "a destructive trade war for all".

"We are in a position to deal with it and handle it very well", he said.

Instead, Lighthizer's statement escalated the dispute further, saying: "China's aggressive, state-directed industrial policies are causing severe harm to USA workers and manufacturers".

The Trump administration is divided into rival camps when it comes to China.

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He said Trump "gets along" with Putin, as he does with the leaders of a number of the G20 countries.

Thomas Wright, a senior fellow at the Brookings Institution in Washington, said "there's a deep division in this G20 now between democracies and authoritarians".

Angered by rampant inflation and soaring unemployment, an alliance of Argentine activist groups and trade unions plans a major protest in central Buenos Aires on Friday, November 30, the summit's first day.

"I hope that the United States and China could move towards each other and work hard to achieve positive results in the meeting", Gao said, without giving any details.

Those discussions, according to people familiar with them, have centered on the possibility of a truce in which the USA would delay ramping up tariffs on China in exchange for Chinese concessions.

Like Trump and Xi, Prime Minister Theresa May will arrive in Buenos Aires late on Thursday to bring another intriguing subplot to the world's pre-eminent economic forum.

But Trump has done her no favours by mocking a hard-fought withdrawal agreement negotiated between London and Brussels, and May still has to win backing for the deal from the fractious British parliament.

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