Trump promises epic trade deal with China

Donald Trump Says He Calls China’s Leader ‘King’ and Xi Likes It Like That

Critics who point out this puts USA companies at a disadvantage would get better results trying to orchestrate policy changes at home.

The comments came as negotiations shifted to the USA capital following a week of discussions in Beijing.

No details were announced but Trump said after meeting with Chinese Vice Premier Liu He that "something monumental" could be announced within weeks.

The US accuses China of stealing intellectual property from American firms, forcing them to transfer technology to China. China has already announced various concessions and pledged to open up industries in steps.

This could perversely serve to give Chinese state enterprises a greater market role while making USA exporters more reliant on the Chinese government's purchasing decisions - both contrary to Trump's stated goals.

Trump also said that a trade deal with China is good for both countries and the world as well.

Analysts say any agreement is likely to include banner announcements that China has agreed to increase purchases of American commodities like soybeans and fuel.

Teams from the US and China met in Beijing last week. Boeing Co.'s role in this equation has now been complicated by China's grounding of its 737 Max jet.

In a tweet earlier today, Trump said a deal was "moving along nicely".

Administration officials initially envisioned a summit between Trump and Xi potentially taking place in March, but some USA lawmakers and lobbying groups have said recently they were told that the administration was now aiming for a deal in late April.




China indicated it wants the U.S.to lift tariffs as a part of the deal, but the U.S.is pushing back as a way of maintaining leverage to ensure Beijing follows through on any commitments it makes.

Trump also flagged that if issues were not resolved, it would be hard to let China keep trading with the US.

A lot of scepticism will probably prevail after a deal with expectations that the trade war could flare up again if China fails to deliver on its promises. Making structural changes to do so will make the USA economy vulnerable, because what Beijing gives, it can take away.

The president's thirst for an agreement with China has grown since the stock market began sliding from its October peak.

USA demands for improved treatment of its intellectual property is also a central plank of the negotiations, amid claims that Chinese firms routinely copy or steal IP from foreign rivals.

China is the world's second largest economy after the US. Beijing is calling on Washington to scrap them as soon as they strike a deal.

Much is riding on the outcome of the talks.

The International Monetary Fund still believes the global economy is "delicate" and "unsettled, in part because China is keeping its economy afloat with stimulus spending that can not continue indefinitely".

She also reiterated her warning for countries to avoid imposing new tariffs on each other. Beijing has retaliated with levies on $110 billion in U.S. goods.

From the outset, his administration has been divided between advisers who fear the trade war's impact on the economy and financial markets and those who believe a showdown with China is long overdue.

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