U.S. President Donald Trump said he talked with Chinese President Xi Jinping on Thursday, especially about ongoing trade disputes between the world's two biggest economies. Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina, ' he tweeted. Both sides reported constructive discussions on North Korea and the trade, with Chinese state media saying that Trump supported "frequent, direct communication" between the presidents and "joint efforts to prepare for" the planned meeting on the sidelines of the Group of 20 summit.
Officials are working to resolve differences ahead of upcoming talks between President Trump and his Chinese counterpart Xi Jinping. He said further meetings with Xi are being scheduled for the G-20 summit of the world's biggest economies, set for November 30 in Buenos Aires, the first ever such summit in South America. He said China wanted to make a deal, adding, "They are not doing well".
"He wants to do it", Trump said of Xi.
"I think we will make a deal with China", he told journalists at the White House.
On Thursday Chinese Premier Li Keqiang also told a group of visiting US politicians that China and the United States could overcome their differences and get relations back on track if they worked together in a spirit of mutual respect. It was the fourth such case since September alleging Chinese espionage on USA economic interests. Washington, Europe and other trading partners say those violate China's market-opening obligations and some American officials worry they might erode United States industrial leadership.
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.
The United States has targeted US$250 billion ($375.5b) in Chinese products, and Beijing has lashed back by slapping tariffs on US$110 million worth of U.S. goods.
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 USA may ease. Ten percent tariffs on US$200 billion in imports that took effect in September are due to increase to 25% on Jan 1.
Despite the positive message from Beijing, analysts were more pragmatic about what could be achieved by the leaders' meeting given the two sides' huge differences on strategic and ideological issues, as well as the growing hostility towards China in the United States.
Both the USA 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.