Trump Discusses Trade Issues With China's Xi

Trump Discusses Trade Issues With China's Xi

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

"The economic teams of the two countries should strengthen contact, conduct consultations on issues of mutual concern, and push for a mutually acceptable solution to China-US economic and trade issues", Xi said.

Xi also said in the phone call that he hoped the two world's largest economies will be able to promote a steady and healthy relationship.

Neither leader specified any details of possible progress in their first known direct discussion in several months. Afterward, Trump described the conversation as "long and very good" and said in a tweet that their discussions on trade were "moving along nicely". "If President Trump makes an agreement with President Xi, there is nobody above them to overturn it", he said.

Tennessee Senator Lamar Alexander told the official the USA and China are competitors not adversaries and suggested they can prosper together.

"Those discussions are moving along nicely", Trump wrote on Twitter Thursday. The U.S.is preparing to announce tariffs on all remaining Chinese imports by early December should talks between the two powers fail to ease the trade war, Bloomberg reported last month.

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Just after the upbeat readouts of the Trump-Xi call, the Justice Department announced the latest in a long list of actions against what Trump administration calls China's cheating through intellectual property theft, unfair corporate subsidies and rules hampering U.S. corporations in China.

In recent months China has repeatedly questioned the US's sincerity in trade talks, wary of agreeing to something only to have Trump change his mind.

Trump said in a television interview on Monday he thinks there will be "a great deal" with China on trade, but warned that he has billions of dollars worth of new tariffs ready to go if a deal isn't possible. But Kudlow cautioned that Trump would "aggressively" pursue his agenda against China, if no deals were reached on intellectual property theft, cybersecurity and tariffs on commodities, among other issues. While Beijing is open to striking a deal that narrows the trade deficit, officials have resisted Trump's other demands - including an end to subsidies for strategic industries, a stop to forced technology transfer and more competition for state-owned enterprises.

China's Premier Li Keqiang, right, speaks next to Tennessee Senator Lamar Alexander during a meeting with a group of U.S. Republican senators and Congress members at Zhongnanhai leadership compound in Beijing, Thursday, Nov. 1, 2018.

Trump administration officials have said that trade talks with China can not resume until Beijing comes up with specific actions it is willing take to meet United States demands for sweeping changes to policies on technology transfers, industrial subsidies and market access.

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