China wants to ‘very badly’ strike a trade deal with US

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It was "hard to know what Trump wants most from China" because of a fragmented administration that had yet to strike a balance among the priorities of various vested interest groups, he said.

News signaling improvements in US-China ties, in turn buoying the markets, would provide the president a chance to vie for support in midterm elections Tuesday that will decide whether the Republicans keep control of Congress. "We talked about many subjects, with a heavy emphasis on Trade", he wrote.

Chinese President Xi Jinping had an "extremely positive" phone conversation with US President Donald Trump about trade and other issues, the foreign ministry said Friday.

"He wants to do it", Trump said of Xi.

"I think we'll make a deal with China, and I think it will be a very fair deal for everybody", Trump said Friday at the White House before leaving for political rallies in West Virginia and Indiana. Suddenly, talks of 7.00 has nearly all but evaporated and the surge higher in the yuan here will continue to give added backing to gains seen in the aussie and the kiwi ahead of the USA jobs report later.

"We are getting much closer to doing something", Trump said. "We have the capability and the wisdom to overcome barriers and push China-U.S. relations back to a normal track - this isn't just beneficial for both countries, but also the world".

Xi was quoted by CCTV as saying after the call with Trump that the two leaders had hoped to expand trade cooperation.

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Xi told Chinese state media on Thursday that he was willing to meet Trump at the summit and hoped to promote a steady relationship.

Shi also said he thought China had only a limited role to play on the North Korea issue.

The markets were already buoyant after Beijing said it would introduce measures to kickstart the stuttering economy following a string of weak data, including growth at its slowest pace in nine years during the third quarter.

Just after the upbeat readouts of the Trump-Xi call, the Justice Department announced the latest in a list of actions against what the Trump administration calls China's cheating through intellectual property theft, unfair corporate subsidies and rules hampering USA corporations in China.

Fujian Jinhua Integrated Circuit Co and Taiwan's United Microelectronics Corp were indicted along with three individuals, the Justice Department said. Earlier this year, the Trump administration imposed tariffs on $250 billion worth of Chinese goods, prompting Beijing to retaliate.

"No country presents a broader, more severe threat to our ideas, our innovation, and our economic security than China", Wray said. In response, Beijing said it would impose taxes on 5,207 United States imports worth about $60 billion.

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