Published: Sun, November 04, 2018
Markets | By Otis Pena

Trump Has Not Sought Draft China Trade Plan

Trump Has Not Sought Draft China Trade Plan

We talked about many subjects, with a heavy emphasis on trade.

He said Trump said in a recent interview that if there are "promising policy discussions, I don't know about a full fledged deal, but if things go well, maybe some tariffs get withdrawn and maybe not".

Markets rallied in Asia and Europe after Mr Trump said that he and Mr Xi had spoken by phone about trade matters for the first time since April, before the countries became locked in a tit-for-tat tariffs battle.

"The best situation (from a Trump-Xi meeting) would be no further actions, temporarily".

Trump, who made the reformation of America's trade relationship with China a flagship pledge during his campaign to be President, has also promised to clamp down on Chinese tech firms that he claims are infringing on U.S. intellectual property rights.

Meeting a group of Republican lawmakers in Beijing, China's Li noted the China-U.S. relationship's "ups and downs" over the past four decades of diplomatic ties. "Also had good discussion on North Korea", he tweeted.

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Asian shares have surged on reports that Donald Trump wants to reach an agreement with Chinese president Xi Jinping about the trade dispute that has dogged markets for months.

His administration has demanded that Beijing make sweeping changes to its policies on intellectual property protections, technology transfers, industrial subsidies and domestic market access, along with steps to reduce a $375 billion USA goods trade deficit with China.

"As the president said, we would like to talk to them about it, but they may not be ready".

A Chinese state-owned company was charged on Thursday with stealing technology from U.S. chipmaker Micron Technology Inc., part of a Justice Department crackdown against China in cases of suspected economic espionage.

The Nikkei was up 2.3% in Tokyo, the Hang Seng climbed 3.35% in Hong Kong and the Shanghai Composite was up 3%. Washington, Europe and other trading partners say those violate China's market-opening obligations and some American officials worry they might erode US industrial leadership.

"Bilateral tensions over strategic issues such as Taiwan, the South China Sea and the arms race will continue and may be at risk of escalating", he 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.

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