Trump Has Not Sought Draft China Trade Plan

Bloomberg, citing people familiar with the matter, later reported that Trump wants to reach a trade agreement with China at the G20 meeting and that after the call with Xi, he had asked officials to begin drafting possible terms. Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina, ' he tweeted.

President Trump has imposed tariffs on $250 billion worth of Chinese goods so far this year.

"Xi said both he and Trump have good visions for a healthy, stable development of the China-US relations as well as expanding economic and trade cooperation, and they should make efforts to realize the wishes", Xinhua said.

"We have already put out asks to China with respect to trade", said Kudlow, who served as the Trump campaign's senior economic adviser.

The telephone conversation on Thursday was Trump and Xi's first publicly disclosed call in six months.

"He wants to do it", Trump said of Xi. It also fuelled speculation that Chinese Vice-Premier Liu He's trip to the USA, which had originally been scheduled for September but was cancelled due to the escalation of the trade dispute, might be back in the cards.

Washington and Beijing are in an increasingly high-stakes standoff over Trump's aggressive move to end what he says have been years of unfair trade practices by China, including rampant intellectual property theft, forced technology transfers and market access barriers.

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Federal Bureau of Investigation director Christopher Wray said the USA has filed a civil lawsuit seeking to prevent the two indicted companies, Taiwan-based United Microelectronics Corp. and China's state-owned Fujian Jinhua Integrated Circuit, from exporting any products created using US trade secrets and blocking the further transfer of trade secrets.

For its part, Beijing has imposed tariffs on $110bn worth of U.S. goods.

"We are getting much closer to doing something", Trump said.

The last round of trade talks with China ended in August with no concrete steps toward reaching a deal. 'But we have a chance to make a fair deal, because China has been hurting us and trade deals have been hurting us.

"The best possible outcome of the Xi-Trump meeting would be a suspension of imposing tariffs on each other, but the USA would continue its all-out blockade on China's technology development", said Shi Yinhong, a professor on worldwide relations at Renmin University and an adviser to Beijing. Ten percent tariffs on US$200 billion in imports that took effect in September are due to increase to 25% on Jan 1.

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.

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