Published: Sat, November 03, 2018
Business | By Eloise Houston

Trump says he'll meet China's Xi at G-20 meeting

Trump says he'll meet China's Xi at G-20 meeting

"President Xi Jinping also stressed that China-U.S. trade has always been serving as ballast and a stabilizer for China-U.S. relations".

The commodity has lost around 15% from four-year highs at the start of last month as Russian Federation and Opec said they would bolster output and dealers grew concerned about the impact on demand from a trade war between China and the US. He stressed that the United States has made significant progress in trade with China. "Also had a good discussion on North Korea!"

United States stocks could get a further boost when the latest data on nonfarm payrolls is released at 8:30 a.m.in Washington (12:30 p.m.in London).

Trump said on Twitter that trade discussions with China were "moving along nicely", and that he planned to meet Xi on the sidelines of a G20 summit, in Argentina, after the two had a "very good" phone discussion.

Stocks around the world were rallying sharply Friday after news of a potential trade breakthrough between the United States and China seemed to counter the brutal sell-off that characterized markets in October.

"I agree, this phone conversation was an extremely positive phone conversation", Lu said in response to Trump's reported comments. "China wants to make a deal".

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 Tuesday that will decide whether the Republicans keep control of Congress.

Trump, who began targeting China's trade policies before he entered office, has imposed three rounds of tariffs on Chinese products worth more than $250bn since the beginning of his administration.

"Hence the next four weeks between the U.S. midterm elections and the G20 meeting in Argentina on 30 November will be important to see how things progress".

Asian markets enjoyed another rally earlier after Trump hailed positive talks with Chinese President Xi Jinping and a report said he had asked officials to draw up a draft bill ahead of a potential trade deal.

Meanwhile, Chinese stocks have been under pressure this year amid trade conerns and slowing domestic economy. The Chinese "want to make a deal", he declared, adding: "Lots of great things are going to happen over the next short period of time".

"We will see what happens at the G20 and with Liu's talks, but I am not optimistic that anything momentous will come out of this", Zimmerman said.

The possible thaw in relations comes after months of escalating tensions over trade that threatened to spill into other areas of disagreement, including China's military build-up in the South China Sea.

"This seems a ideal way to ensure equities rally into election day, put Xi into a box in terms of what is expected of him in the terms of the deal. and then have someone to blame when the deal then falls through", Every said in an email.

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