Donald Trump Expects "Very Good" Trade Deal With China

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"I think we will make a deal with China and I think it will be a very fair deal for everybody", Trump said while speaking to reporters from the White House.

President Donald Trump wants to reach an agreement on trade with Chinese President Xi Jinping at the Group of 20 nations summit in Argentina later this month and has asked key USA officials to begin drafting potential terms, according to four people familiar with the matter. "Those discussions are moving along nicely with meetings being scheduled at the G20 in Argentina". The Chinese president also said he would like to meet Trump at the G20.

China has been hurt over the past months and is having a "hard time" due to strong steps taken by the U.S. against it over trade, USA president Donald Trump has claimed.

Shi also said he thought China had only a limited role to play on the North Korea issue.

The US this year has already imposed tariffs on US$250 billion in trade with China.

But within hours of the upbeat assessments, the US Justice Department took aim at another Chinese firm it accused of unfair practices, part of an across-the-board pressure campaign by the Trump administration targeting China. "China wants to make a deal".

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

"Given his [Trump's] poor track record on policy credibility in the past year, we'd better not hold out too much hope", Lu said. While Beijing is open to striking a deal that narrows the trade deficit, officials have resisted Trump's other demands - including an end to subsidies for strategic industries, a stop to forced technology transfer and more competition for state-owned enterprises.

"Trump's so-called directive to his staff to draft an agreement is either a hollow gesture or an ostentatious move, or both", he said.

Markets have soared on reports that the two sides are closing in on a deal that would avoid Washington piling on still more tariffs against Chinese imports. It also fuelled speculation that Chinese Vice-Premier Liu He's trip to the United States, which had originally been scheduled for September but was cancelled due to the escalation of the trade dispute, might be back in the cards.

China's Premier Li Keqiang, right, speaks next to Tennessee Senator Lamar Alexander during a meeting with a group of U.S. Republican senators and Congress members at Zhongnanhai leadership compound in Beijing, Thursday, Nov. 1, 2018.

"I don't buy the story for a second", said Michael Every, head of Asia financial markets research at Rabobank in Hong Kong.

The Trump administration presented Chinese officials with a list of more than 140 demands during the first round of trade talks in May.