Washington May Conclude a Trade Agreement with Beijing
OREANDA-NEWS The United States has made significant progress in resolving trade disputes with China. The American leader said this on Friday, talking with journalists on the South lawn of the White house. His speech was broadcast by CNN.
"We had very good talks with China," he said. "We have made significant progress. They understand that if the agreement can not be reached, we will feel great further with the state of things that exists now," Trump added.
"They really want to make an agreement. I think that we will conclude an agreement with China, and I think that it will be very fair for all, and it will be a good agreement for the United States," the US President said.
The US leader also said that he will discuss a possible trade deal with Chinese President XI Jinping during a working dinner at The G20 summit in Argentina, which will be held on November 30 - December 1. "We'll meet at the G20, we'll have dinner," he said.
Earlier on Friday, Bloomberg reported, citing its own sources, that US President Donald Trump has instructed key officials to begin developing a trade agreement with China. According to Bloomberg, the US leader intends to present the provisions of the deal to Chinese President XI Jinping at the G20 summit in Argentina. However, the main economic Advisor to the President of the United States Lawrence Kudlow said Friday CNBC that the US government did not give such instructions.
Since September 24, the US has entered into force customs duties in the amount of 10% on imported goods from China, the total value of which is estimated at $200 billion as promised in the White house, from January 1, 2019, the rate will rise to 25%. China responded with a tariff of 5% to 10% on imports from the US amounting to $60 billion trump also expressed his intention to proceed to the third phase of the implementation of restrictive measures and, if Beijing dares to take retaliatory steps, to impose additional tariffs applied to Chinese goods and services in the amount of $267 billion.