Trump, Xi upbeat on trade after phone call
However, soon after, US Justice Dept targets another Chinese firm
However, soon after, US Justice Dept targets another Chinese firm. PHOTO: REUTERS
WASHINGTON/ BEIJING:
US President Donald Trump and Chinese President Xi Jinping, who spoke by telephone on Thursday, expressed optimism about resolving their trade dispute ahead of a high-stakes meeting at the end of November in Argentina.
But within hours of the upbeat assessment, the US Justice Department took aim at another Chinese firm it accused of unfair practices, part of an across-the-board pressure campaign by the Trump administration targeting China.
Still, investors cheered the resumption of dialogue and a report that Trump was taking steps to resolve the tariff war, with shares in Asia hitting three-week highs on Friday and the dollar softening.
In US-China trade war, Pakistan gets extra export orders
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.
Bloomberg, citing people familiar with the matter, later reported that Trump wants to reach a trade agreement with China at the G20 meeting and that after the call with Xi, he had asked officials to begin drafting possible terms.
The news agency said it was not clear if Trump was easing up on demands that China has resisted, and it cited one person as saying intellectual property theft was a sticking point on a possible deal.
In comments in state media, Xi said he hoped China and the US would be able to promote a steady and healthy relationship and that he was willing to meet Trump in Argentina.
Even in new trade deal, US plays hardball with China
Neither leader specified any details of possible progress in their first known direct discussion in several months.
Trump administration officials have said that trade talks with China cannot resume until it comes up with specific actions it is willing to take to meet US demands for sweeping changes to policies on technology transfers, industrial subsidies and market access.
The two countries have imposed tariffs on hundreds of billions of dollars of each other's goods and Trump has threatened to put tariffs on the remainder of China's $500 billion-plus exports to the US if the dispute cannot be resolved.
US President Donald Trump and Chinese President Xi Jinping, who spoke by telephone on Thursday, expressed optimism about resolving their trade dispute ahead of a high-stakes meeting at the end of November in Argentina.
But within hours of the upbeat assessment, the US Justice Department took aim at another Chinese firm it accused of unfair practices, part of an across-the-board pressure campaign by the Trump administration targeting China.
Still, investors cheered the resumption of dialogue and a report that Trump was taking steps to resolve the tariff war, with shares in Asia hitting three-week highs on Friday and the dollar softening.
In US-China trade war, Pakistan gets extra export orders
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.
Bloomberg, citing people familiar with the matter, later reported that Trump wants to reach a trade agreement with China at the G20 meeting and that after the call with Xi, he had asked officials to begin drafting possible terms.
The news agency said it was not clear if Trump was easing up on demands that China has resisted, and it cited one person as saying intellectual property theft was a sticking point on a possible deal.
In comments in state media, Xi said he hoped China and the US would be able to promote a steady and healthy relationship and that he was willing to meet Trump in Argentina.
Even in new trade deal, US plays hardball with China
Neither leader specified any details of possible progress in their first known direct discussion in several months.
Trump administration officials have said that trade talks with China cannot resume until it comes up with specific actions it is willing to take to meet US demands for sweeping changes to policies on technology transfers, industrial subsidies and market access.
The two countries have imposed tariffs on hundreds of billions of dollars of each other's goods and Trump has threatened to put tariffs on the remainder of China's $500 billion-plus exports to the US if the dispute cannot be resolved.