Kudlow less optimistic about US-China trade deal

President Trump “I Think We’ll Make a Deal With China on Trade”

The telephone conversation on Thursday was Trump and Xi's first publicly disclosed call in six months.

Trump says of China: "I know they want to make a deal".

Kudlow said Thursday at an event in Washington that Trump and Xi might be able to break the logjam on issues during the summit.

US-China talks have made little progress since May, when Trump put a stop to a deal that would see China buy more energy and agricultural goods to narrow the trade deficit. At time of writing, Trump is scheduled to meet Chinese authorities in a few weeks, with the potential outlook of a breakthrough in prolonged trade tensions representing an investment opportunity for financial markets to further unwind of United States dollars positions. Trump points to stock prices as a barometer for his administration's economic success-blaming the Federal Reserve and Democrats for declines.

"We've talked about trade. And I think it'll be a very fair deal for everybody, but it will a good deal for the United States", he said.

Trump said trade talks were "moving along nicely" and that meetings were "being scheduled" at the G20 summit in Buenos Aires.




The two countries have already placed tariffs on some of each other's imports. We need that to be fair and reciprocal with them.

Despite the promise offered by the Trump-Xi telephone call, the level of tension between the two nations was demonstrated just hours after it ended when the U.S. filed charges against Chinese technology firm Fujian Jinhua Integrated Circuit Co and its Taiwanese partner. An early-December announcement of a new product list could make the effective date-after a 60-day public comment period-coincide with China's Lunar New Year holiday in early February.

Bloomberg reported on Friday that Trump wants to reach a trade agreement with China at the G20 meeting. Ten percent tariffs on $200 billion in imports that took effect in September are due to increase to 25 percent on January 1.

The United States has already imposed tariffs on $250 billion worth of Chinese goods, and China has responded with retaliatory duties on $110 billion worth of US goods.

A Chinese state-owned company was charged on Thursday with stealing technology from USA chipmaker Micron Technology Inc., part of a Justice Department crackdown against China in cases of suspected economic espionage. Attorney General Jeff Sessions will announce a new initiative in response, according to a Justice Department official.

Zimmerman also said that the announcement of the indictment against the Chinese tech company, which "was more of a political stunt than anything", would not bring the two countries any closer to resolving "a host of contentious issues".

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