Trump says 'big progress' being made on possible deal with China - International

Jeannie Matthews
January 4, 2019

President Trump tweeted today revealing he had a long and very good telephonic talk with Chinese counterpart Xi.

The Chinese president said he and Trump had a very successful meeting early this month and reached important consensus in Argentina.

Washington and Beijing have imposed tit-for-tat tariffs on more than $300 billion (£234.3) worth of goods, and the trade conflict has spooked markets worldwide.

Xi said teams from both countries have been actively working to implement the recently reached consensus between China and the United States, according to state-run Xinhua news agency.

Xi also praised the fast development of several of the country's economic zones, such as the Jing-Jin-Ji urbanised region in the north, the Yangtze River economic belt in the east and the Guangdong-Hong Kong-Macau Great Bay Area in the south.

China will continue market reforms and open its doors to the world in the face of a challenging geopolitical landscape, President Xi Jinping pledged Monday in a New Year speech.

At their summit in Buenos Aires on December 1, Xi and Trump agreed that the United States and China will hold off on imposing further tariffs on each other's imports and try to complete talks on technology and intellectual property rights issues within 90 days.

Only by strengthening from within will the world's two largest economies be better positioned to transform their relationship to a more constructive interdependency instead of their relationship creating frictions that pose serious impediments to economic growth, Roach said.

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China attaches great importance to the development of bilateral relations and appreciates the willingness of the USA side to develop cooperative and constructive bilateral relations, he said.

Former US president Jimmy Carter warned on Monday that both countries were increasingly describing each other as threats. File photo: White House.

China is also targeting intellectual property theft in the country - one of the main sticking points in the dispute with the US.

A little less than a year since he scrapped term limits, clearing the path towards his indefinite rule, Mr Xi has seen his major initiatives - notably the Belt and Road trade and infrastructure programme - draw global backlash amid the unprecedented trade war with the US. He is seeking reduction in U.S. trade deficit and bring deeper reforms.

Xi Jinping. File photo: GovHK.

The progress achieved in the past 40 years has not come easily, and experience should be derived from that, Chinese Foreign Ministry spokesman Lu Kang said in statement.

Deputy US Trade Representative Jeffrey Gerrish will lead the US team for talks during the week of January 7, Bloomberg reported, citing two people familiar with the matter.

Negotiators from both countries have been in touch over recent weeks and face-to-face talks could take place in January. "Big progress being made!"

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