Published: Fri, November 02, 2018
Business | By Eloise Houston

Trump Tweets Trade Talks With Xi 'Moving Along Nicely'

Trump Tweets Trade Talks With Xi 'Moving Along Nicely'

Both Trump and Chinese President Xi Jinping are due to attend the G20 summit in Argentina which starts at the end of this month, and could hold talks there.

Xi was quoted by CCTV as saying after the call with Trump that the two leaders had hoped to expand bilateral trade cooperation.

In comments to state media, Xi said he hoped China and the United States would be able to promote a steady and healthy relationship, and that he was willing to meet with Trump in Argentina.

The yuan had come under intense pressure to weaken of late, as slowing growth in China and trade tensions with the USA prompted investors to shift away from riskier emerging-market assets.

On Thursday, the USA accused a Chinese state-owned company of conspiring to steal trade secrets of U.S. chipmaker Micron Technology Inc.as part of a Justice Department crackdown against China in cases of suspected economic espionage.

The report lit a fire under stock markets that have beset by fears of a full-blown trade war between the world's two biggest economies. 'But we have a chance to make a fair deal, because China has been hurting us and trade deals have been hurting us.

"Just had a long and very good conversation with President Xi Jinping of China", Trump tweeted Thursday morning.

Trump imposed new tariffs on roughly half of Chinese imports this summer while Beijing fired back with tariffs on most USA products.

The onshore yuan was headed for its biggest two-day advance in more than 11 years amid prospects that China and the US are working toward a possible deal in a trade war that has roiled global financial markets.

The two countries have been locked in an escalating trade battle, with each side imposing tariffs on billions of dollars worth of imports from each side.

Pompeo's comments were the latest slur to come out of Washington, which has accused Beijing of meddling in U.S. politics, conducting cyber espionage against aviation firms and hacking Trump's iPhone.

US Senator Lamar Alexander of Tennessee told Li that the delegation was there "to show our respect to a great country and a great people", and that the two countries "are competitors but not adversaries".

One person said a sticking point in any potential deal is intellectual property theft, where the Trump administration has sought to take a hard line.

Xi said he was "very happy" to talk to Trump again and attaches "great importance to good relations with the president", according to China's official Xinhua news agency.

Trump warned that if China doesn't "treat us fairly, we're not going to treat them fairly" in remarks at an event for American workers at the White House.

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