"I Think We Will Make A Deal": Trump On US-China Trade

A team led by Deputy US Trade Representative Jeffrey Gerrish will come to China to have “positive and constructive discussions” with Chinese counterparts

The upcoming talks will be the first formal negotiations on trade between the world's two biggest economies since President Donald Trump and his Chinese counterpart, Xi Jinping, agreed to a truce at the G20 summit in Argentina last month.

Deputy US Trade Representative Jeffrey Gerrish will lead the Washington delegation and will discuss "implementing the important consensus" reached by Mr Trump and Mr Xi at the sidelines of the G20 summit in Argentina past year, China's commerce ministry said. Its one-sentence announcement gave no other details of the agenda or who else would take part.

Trump has slapped import tariffs on hundreds of billions of dollars of Chinese goods as he seeks concessions from Beijing on issues ranging from industrial subsidies to hacking, sparking retaliation by China.

Trade negotiations could still be affected due to the diplomatic row following the arrest of Huawei's Chief Financial Officer Meng Wanzhou in Canada at the request of the United States for allegedly violating sanctions against Iran.

They hope to have "positive and constructive discussions", said a Chinese foreign ministry spokesman, Lu Kang.

Trump initiated the trade war because of complaints over unfair Chinese trade practices - concerns shared by the, Japan and others. But economists say that is too little time to resolve the sprawling disputes that bedevil U.S.

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United States trade negotiators will "optimistically and constructively communicate with (the) Chinese delegation on the important agreements achieved by the two leaders during the meeting in Argentina", China's Commerce Ministry said in a statement, without giving further details.

Trump has said talks toward a deal are progressing well, but it is unclear if Beijing will yield to key U.S. demands over trade imbalances, market access, and alleged Chinese abuses of intellectual property.

In addition to Gerrish, the official delegation will also include David Malpass, the Treasury Department's undersecretary for global affairs. "There are a heck of a lot of USA companies that have sales in China that are going to be watching their earnings being downgraded next year until we get a deal with China". The shares closed at US$148.26 on Friday, down about 5.1 percent for the week.

The dispute has rattled companies and financial markets that worry it will drag on global economic growth, already showing signs of declining.

"That puts a lot of pressure on China to make a deal", he said. It said the threat of USA tariff hikes was the "dominating factor" for almost half, while others moved due to higher costs or tighter environmental regulation.

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