US President Trump said he will be having extended meeting with Chinese leader Xi Jinping at the G20 summit in Japan next week. Trump is looking forward to a significant development which could possibly resolve the devastating trade war between the two countries.
From the White House on Tuesday, Trump said US and China will startup negotiations on Wednesday before he finally meets the Chinese leader Xi at the sidelines of the summit in Osaka. President Trump was highly optimistic about the trade deal coming to fruition.
“I have a very good relationship with President Xi. We’ll see what happens. I think we have a chance. China wants a deal. They don’t like the tariffs. Trump said.
President Trump this time looks forward to smooth meeting with Xi as he said the meeting “might go well.” “Frankly our people are starting to deal as of tomorrow, the team is starting to deal. China would like to make the deal. We would like to make the deal but it has to be a good deal for everybody. Trump said.
The US president Trump twitted that he had spoken with Xi by telephone earlier in the day, and he returned to the topic during a rally kickstarting his reelection campaign Tuesday night. Trump said he wanted a “good deal and a fair deal or we’re not going to have a deal at all,” adding that Xi was a “terrific person.”
Chinese Foreign Ministry has confirmed that Xi had a telephone talk with Trump and also agreed to hold talks at the G20 with him. He added that as the world’s two largest economies, US and China have to play frontier roles in “injecting confidence and vitality into the global markets.”
Both US and China have been throwing blames at each other for the breakdown in negotiations. Trump administration tariff option was an increase from 10% to 25% on an estimated $200 billion in Chinese imports. While the Chinese government responded with tariffs on $60 billion of US exports and have since then been close-marking exports of rare earths to US companies.
Companies in the US are not finding the trade war funny as they have been mounting pressure on the Trump administration to drop the war, stating that the effect could be a damaged US economy and huge job losses. 600 and above companies and industry trade associations, including Walmart, Costco and Target, have written to White House in June pleading for an end to the trade war between the two countries.
There has not been sign that US President will end the trade war yet. While there are indications that Chinese government is ready to play along with the trade war to any length of time, not minding the fact that the war is slowing the Chinese economy. Beijing has been defiant in propaganda run in the country’s state-run media, both in papers and on television.
Prominent Chinese Communist Party journal Qiushi said in a published statement that China is ready to “fight it out till the end,” while an opinion piece in party mouthpiece People’s Daily described calls to compromise with the US as “stupid and naive.”
Sources: CNN, Google, Twitter