Trump Asks for Draft Trade Deal With China

China's economy is being damaged by its trade war with the US and a domestic debt cleanup

The US is preparing to announce by early December tariffs on all remaining Chinese imports if talks between Trump and Xi fail to ease the trade war, three people familiar with the matter said. As reported by our site with reference to Voice of America, this statement was made by the President during a conference at the White house. This year, the Trump administration has already imposed tariffs on $250bn in trade with China and is threatening to impose tariffs on all remaining imports from China, which were worth $505bn last year. "Also had a good discussion on North Korea!"

Washington and Beijing are in an increasingly high-stakes standoff over Trump's aggressive move to end what he says have been years of unfair trade practices by China, including rampant intellectual property theft, forced technology transfers and market access barriers.

Gains were also fuelled by Chinese president Xi Jinping's promise to support private investment on Thursday.

Stock markets in China gained on Friday after US President Donald Trump said trade talks with Beijing were "moving along nicely".

Despite the positive message from Beijing, analysts were more pragmatic about what could be achieved by the leaders' meeting given the two sides' huge differences on strategic and ideological issues, as well as the growing hostility towards China in the United States. "If President Trump makes an agreement with President Xi, there is nobody above them to overturn it", he 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.

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

'China does not want to see this, ' he said, according to Xinhua. "OK, there's no mass movement, there's no huge thing, we're not on the cusp of a deal".

"The best situation (from a Trump-Xi meeting) would be no further actions, temporarily".

The Trump administration says it's trying to pressure Beijing to make deep changes to its economic policies, accusing it of overseeing the theft of U.S. intellectual property and unfairly boosting Chinese companies through aggressive industrial programs. "I don't think they're ready yet".

The possible warming of relations comes after months of escalating tensions over trade that are threatening to spill into other areas of disagreement, including freedom of navigation in the South China Sea. It was the second meeting this week in which Chinese leaders vowed to protect the economy.

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