China: Xi-Trump Phone Call ‘Extremely Positive’

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But there remains plenty of reason for pessimism. "We talked about many subjects, with a heavy emphasis on Trade", Trump wrote in a post on Twitter.

But Larry Kudlow, Trump's top economic adviser, sounded a more cautious note on CNBC Friday.

This whole list is very important to the administration, Kudlow said.

Peter Navarro, director of the National Trade Council within the White House, struck a similar wait-and-see note on Saturday about the Trump-Xi meeting.

"We view the positive statements as political cover that could lay the ground work for further tariffs if the G20 meeting is not fruitful/timed for near-term market and political benefit", said Ed Mills, a policy analyst at Raymond James.

Mr Xi held the meeting amid signs that China is losing steam as it faces a trade war with the United States, a massive debt buildup and a weakening currency. And he has previously made concessions to US adversaries that have drawn backlash from both Democrats and Republicans.

His comments came one day after Trump spoke with Chinese President Xi Jinping over the phone. The decision was roundly lambasted in Congress. "But China very much wants to make a deal", he said.

Chinese state media said Trump also expressed support for a conference in Shanghai next week that Xi is using to promote the country as an import destination.

And Trump's history of reneging on agreements is presumably well understood in Beijing.

President Trump says that China wants to make a trade deal with the U.S.

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Trump revoked his government's support for a joint statement following the G7 conference in Canada after Canadian Prime Minister Justin Trudeau criticized USA steel and aluminum tariffs.

"The Trump administration should not miscalculate China's tolerance for what they perceive as bullying tactics", he said.

"We've talked about trade".

The United States attaches importance to U.S.

Much remains unclear about Trump's posture toward China. -China trade war, citing unnamed sources.

The United States has already imposed tariffs on $250 billion worth of Chinese goods, and China has responded with retaliatory duties on $110 billion worth of US goods. It slumped 2.5 percent to $63.69 a barrel in NY.

The US is preparing to announce by early December tariffs on all remaining Chinese imports if talks between Trump and Xi fail to ease the trade war, three people familiar with the matter said.

Thursday's meeting was the first telephone conversation between the leaders in six months of which is openly reported.

Tensions have increased in recent months with United States officials accusing China of meddling in the United States midterm elections, conducting cyber espionage and military aggression. 1 summit of the Group of 20 nations.

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