Trump says 'I think we'll make a deal with China' on trade

China's economy is being damaged by its trade war with the US and a domestic debt cleanup

China's economy is being damaged by its trade war with the US and a domestic debt cleanup

In a phone call with U.S. President Donald Trump, Xi also said China would continue to play a constructive role in the process.

Donald Trump and Xi Jinping expressed optimism ahead of meeting later this month in Argentina, with the United States leader saying his Chinese counterpart wants to make a deal to end an escalating trade war.

"China very much wants to make a deal..." "They very much want to make a deal". "OK, there's no mass movement, there's no huge thing, we're not on the cusp of a deal". "This time they no longer described the economy as "stable with good momentum", Shen said. 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.

The United States has placed additional tariffs on more than $250 billion worth of imports from China and has threatened to more than double that amount if the G-20 talks fail.

Trump said Thursday 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.

Trump also offered to host a "Western-style" dinner for Xi on December 1, after the G20 leaders' meeting, an invitation that Beijing had tentatively accepted, people familiar with the matter told the South China Morning Post.

Later, Bloomberg News, citing unnamed sources, reported that the president has requested key cabinet secretaries put together an outline deal to call a ceasefire in the painful row.

I spoke with President Xi (Jinping) yesterday.

Trump administration officials have said U.S.

Disagreements on trade have "adversely affected" industries from both countries as well as global trade, Xi said.

In their May telephone conversation, Xi and Trump set out to resolve their trade disputes, but the talks ended in stalemate and the first tariffs followed just weeks later.

The nation's economic situation is changing, downward pressure is increasing and the government needs to take timely steps to counter this, according to a statement from a politburo meeting on Wednesday chaired by President Xi Jinping. CEO Jamie Dimon said escalating trade tensions between the USA and China are increasingly starting to resemble a trade war, rather than just a "skirmish".

"This is pre-election hype created to make the markets happy; there is no imminent deal with China", Greg Valliere, the chief global strategist at Horizon Investments, told Business Insider.

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