Trump: Trade discussion with China ‘moving along nicely’

“We talked about many subjects, with a heavy emphasis on Trade,” President Trump tweeted about his call with Chinese President Xi Jinping. | Susan Walsh/AP Photo

President Donald Trump tried to soothe Wall Street on Thursday by claiming to have had “a long and very good conversation“ with Chinese President Xi Jinping during a Thursday phone call, indicating some optimism about an upcoming meeting between the two leaders.

“We talked about many subjects, with a heavy emphasis on Trade,” Trump tweeted. “Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina.”

China’s state-run Xinhua news agency said the call on Thursday was made at the invitation of Trump.

The meeting in Buenos Aires could be a crucial turning point in the trade fight. Trump is poised to increase the tariffs on $200 billion worth of Chinese imports to 25 percent, from the current 10 percent, starting Jan. 1. He has also threatened tariffs on all remaining

China has responded to tariffs with its own retaliatory duties on imports of U.S. farm goods and other products. Beijing is also accused of taking “qualitative” measures that make it more difficult for U.S. companies to operate in the Chinese market.

Financial markets dropped earlier this week after it was reported that the administration was preparing to announce more tariffs if the talks didn’t go well.

During the call, Xi said U.S.-China economic and trade relations should be based on mutual benefits, according to a report from Xinhua.

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

Source:Politico.com