Trump speaks by phone with China's Xi on trade

China,Economy,Xi Jinping

Trump speaks by phone with China's Xi on trade

News signaling improvements in US-China ties, in turn buoying the markets, would provide the president a chance to vie for support in midterm elections on Tuesday that will decide whether the Republicans keep control of Congress. "They are very willing to make a deal", said trump.

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.

U.S. President Donald Trump has not "set in stone" any decisions on escalating tariffs on Chinese goods and may withdraw some duties if there are promising policy discussions with China, White House economic adviser Larry Kudlow said on Wednesday.

The headwinds have increased with Trump's specific charge - publicly echoed by Vice President Mike Pence - that China is actively trying to interfere in the U.S. midterm elections, to be held on November 6. He will certainly bring the subject to the table when he dines with the Chinese president Xi Jinping at the G20 meeting in Argentina later this month.

China's official Xinhua News Agency said that Xi accepted the call at Trump's invitation.

The Trump-Xi meeting would be the first since the two countries began hitting each other with import taxes earlier this year. Trump complained for a long time about the trade deficit that the U.S. has with China and, among other things, wants the People's Republic to import more American goods. Unlike many other news organizations, we have not put up a paywall.

Bloomberg reported on Monday that the United States is preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between presidents Donald Trump and Xi Jinping fail to ease the trade war. Ten percent tariffs on $200 billion in imports that took effect in September are due to increase to 25 percent on January 1.

A key point of contention for the United States has been its allegations that China has engaged in widespread intellectual property theft.

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