China's Yuan Set for Biggest Two-Day Gain Since January on Trump


President Trump says his discussions with his Chinese counterpart are moving along "nicely" ahead of their planned meeting at the G-20 in Buenos Aires at the end of the month.

But Trump described the call between the two leaders as "a long and very good conversation" and said "discussions are moving along nicely".

In comments to state media, Xi said he hoped China and the United States would be able to promote a steady and healthy relationship, and that he was willing to meet with Trump in Argentina.

Xi on Thursday said he looks forward to meeting with Trump at the G20 in Argentina, according to China's state media.

China has been hurt over the past months and is having a "hard time" due to strong steps taken by the U.S. against it over trade, U.S. president Donald Trump has claimed.

But within hours of the upbeat assessments, the US Justice Department took aim at another Chinese firm it accused of unfair practices, part of an across-the-board pressure campaign by the Trump administration targeting China.

China and the USA, the world's two largest economies, are in a bitter trade dispute. He has also emphasized the need to reduce the US trade deficit with China.

Trump imposed new tariffs on roughly half of Chinese imports this summer while Beijing fired back with tariffs on most U.S. products.

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Trump said earlier on Twitter that he and Xi had a "very good" conversation.

"The two countries" trade teams should strengthen contact and conduct consultations on issues of concern to both sides, and promote a plan that both can accept to reach a consensus on the China-U.S. trade issue, ' Xi said.

Speaking at a meeting with a group of visiting USA congressmen led by Republican Senator Lamar Alexander of Tennessee, Premier Li Keqiang said he hoped the two sides "will meet each other halfway and work together in the spirit of mutual respect and equality".

Federal Bureau of Investigation director Christopher Wray said the US has filed a civil lawsuit seeking to prevent the two indicted companies, Taiwan-based United Microelectronics Corp. and China's state-owned Fujian Jinhua Integrated Circuit, from exporting any products created using USA trade secrets and blocking the further transfer of trade secrets. 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.

Alexander was quoted as telling Li that the two countries were "competitors but not adversaries" and that their mutual interests outweighed their conflicts. He said China wanted to make a deal, adding, "They are not doing well".

In recent months China has repeatedly questioned the US's sincerity in trade talks, wary of agreeing to something only to have Trump change his mind.

Alexander said he would be discussing trade with Li, though neither of them mentioned the ongoing tariff war in remarks in front of reporters. I think we have a long way to go.