Trump Discusses Trade Issues With China's Xi


Both leaders, who are due to meet on the sidelines of the G20 summit in Argentina at the end of this month, expressed optimism about resolving their trade disputes.

Donald Trump said trade talks were "moving along nicely" and that meetings were "being scheduled" at the G20 summit in Buenos Aires. "Also had good discussion on North Korea!"

Foreign ministry officials in Beijing said Xi had and "extremely positive" phone conversation with Trump about trade and other issues.

Hours later, however, the US Justice Department accused another Chinese firm of unfair practices, part of an across-the-board pressure campaign by the Trump administration targeting China. "China does not want to see this", he said, according to Xinhua.

However, a senior Trump administration reportedly denied that Trump was preparing to make a deal, a CNBC journalist said in a Twitter post on Friday.

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The leaders of the world's two largest economies made the remarks after their first publicly disclosed telephone conversation in nearly six months.

Despite the promise offered by the Trump-Xi telephone call, the level of tension between the two nations was demonstrated just hours after it ended when the United States filed charges against Chinese technology firm Fujian Jinhua Integrated Circuit Co and its Taiwanese partner.

The comment comes days after he warned he would impose tariffs on all China's shipments to the U.S. before saying he thought he could "make a great deal with China" but it was not yet ready.

In comments to state media, Xi said he hoped China and the United States would be able to promote a steady and healthy relationship, and that he was willing to meet with Trump in Argentina. "We're doing better than we've ever done".

It's been a wild ride this week for China's yuan, whipsawed as concern about a slowdown in the world's second-biggest economy gave way to optimism that trade tension with the US may ease.

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On Thursday, the U.S. accused a Chinese state-owned company of conspiring to steal trade secrets of USA chip-maker Micron Technology Inc as part of a Justice Department crackdown against China in cases of suspected economic espionage.

China has responded with retaliatory duties on $110-billion worth of USA goods.

Both the U.S. and China have sought to portray the personal relations between the two leaders as a source of stability in the relationship, and they have refrained from direct criticism of each other.

Although U.S. -China relations have been rocky, Keqiang said he is optimistic both nations can work together in the spirit of mutual respect.

The commodity has lost around 15 per cent from four-year highs at the start of last month as Russian Federation and Opec said they would bolster output.

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