Trump says China's Xi wants a deal to end escalating trade war

Xi pledges support for private firms

Trump Confident of Fair Trade Deal with China

WASHINGTON, Nov 2 - U.S. President Donald Trump said on Friday that a lot of progress had been made with China on trade, and he predicted the world's two largest economies would reach a very good deal.

"And I think it'll be a very fair deal for everybody, but it will a good deal for the United States", he said. But most economic and trade analysts say it's unlikely that any deal with China is on the horizon.

Xi also made clear the party's willingness to help clear up problems such as financing for entrepreneurs, said Lu.

Though final decisions have not been made, US officials are preparing for such a scenario in case a planned Trump-Xi meeting yields no progress on the sidelines of a Group of 20 summit in Buenos Aires in November, according to the report. If the policy talks go well, then we'll have a much better situation.

The G20 summit will take place from November 30 to December 1.

"Frankly, the principal culprit is China", he said.

The report came after the two leaders expressed optimism on Thursday about resolving their bitter trade disputes, one of the major factors behind a recent global equity market rout.

This whole list is very important to the administration, Kudlow said. At time of writing, Trump is scheduled to meet Chinese authorities in a few weeks, with the potential outlook of a breakthrough in prolonged trade tensions representing an investment opportunity for financial markets to further unwind of Dollars positions.

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"Bilateral tensions over strategic issues such as Taiwan, the South China Sea and the arms race will continue and may be at risk of escalating", he said.

"We are having very good discussions with China". Washington, Europe and other trading partners say those violate China's market-opening obligations and some American officials worry they might erode USA industrial leadership.

Thursday's meeting was the first telephone conversation between the leaders in six months of which is openly reported.

"We do hope that China and the United States will meet each other halfway and work together in the spirit of mutual respect and equality", Li told Trump's fellow Republicans. 1 summit of industrial and emerging market nations.

Mr Xi also emphasised creating a fair and competitive environment and tasked local governments with "correcting" the behaviour of certain government departments, as well as large companies that use their dominance to "bully" smaller ones.

"The Trump administration should not miscalculate China's tolerance for what they perceive as bullying tactics", he said.

"I'm not going to make a prediction I do think part of the uncertainty in stocks is about the election", Kudlow said.

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