US, China close to striking a monumental trade deal

Donald Trump Says He Calls China’s Leader ‘King’ and Xi Likes It Like That

No details were announced but Trump said after meeting with Chinese Vice Premier Liu He that "something monumental" could be announced within weeks. The Chinese economy clearly fluctuates much more than the USA based on good or bad news about progress in trade talks.

The latest talks followed a round of negotiations in Beijing the previous week, headed by Liu and US Trade Representative Robert Lighthizer.

"The deal is coming along really well".

"We will probably know over the next four weeks". "But it looks like it is moving along very nicely". A lot of really good things have been negotiated and agreed to.

"We've agreed to far more than we have left to agree to", he said.

'It's got a very, very good chance of happening.

"President Xi, who is a strong man, I call him "king", Trump told the crowd. It will be here. "If it's not a great deal, we're not doing it".

"We're going to give them a one-year warning", he said.

Mr. Liu said Mr. Xi believes that "strategic leadership" was needed for the "healthy, stable development of China-US ties". "I think we're going to get that done".

Trump said he appreciated a "beautiful letter" he received from Xi, but he did not disclose its contents.

The two countries have made considerable progress on the issues that divide them. After Xi's team initially floated a formal state visit to Washington as an option, China has pushed back against a meeting on US soil and wants to instead meet in a neutral third country, the people briefed on the plans said.

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Vitiello acknowledged "it was a mistake" and said "he was trying to make a joke", adding that he thought it was a direct message. In addition, despite what Trump suggests, Mexico, China and other American trading partners don't pay USA tariffs directly.

He also expressed appreciation for Xi's decision to crack down on the powerful opioid fentanyl, saying that it is of great importance to Americans, and for the anti-drug cooperation between China and the US.

Asked about the remaining sticking points, Trump mentioned tariffs and intellectual property theft.

The dispute over technology policy, involving punitive tariffs imposed by both sides, has rattled markets and cast a pall over the outlook for the global economy. The Trump Administration wants to maintain the current tariff levels, with gradual reductions as China becomes more compliant with the US' demands.

The National People's Congress only abolished the term limit of the Chinese presidency four months after Trump's visit, the South China Morning Post reported.

"Sterling has been the weakest currency overnight, giving back the gains we saw this time yesterday", said NAB's head of foreign exchange strategy Ray Attrill. "My guess is that something in between will be in the compromise".

China and the US are working to end a standoff that has shaken financial markets and darkened the outlook for the world economy. "It's closer to being a cease-fire", said Pillsbury, an occasional Trump adviser on China.

This could perversely serve to give Chinese state enterprises a greater market role while making U.S. exporters more reliant on the Chinese government's purchasing decisions - both possibly contrary to USA objectives and interests.

Vice Premier and Beijing's trade envoy Liu flew to Washington this week to continue hammering out trade negotiations. American producers could struggle to fill major new orders announced by Beijing, he said. At another point, he said, "If the drugs don't stop, we'll tariff the cars".

He said the president should go to the bargaining table with Congress to try to strike a broad deal that improves border security but also includes broader reforms.

The president's thirst for an agreement with China has grown since the stock market began sliding from its October peak.

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