Daily Management Review

China Wants "To Make A Deal", Says Trump In Reference To The Trade War


08/27/2019




China was actively reaching out to the United States to restart stalled negotiations on trade and to "make a deal" to end the trade war between the countries which is going on for more than a year, said the US President Donald Trump. He also lauded the Chinese president as a great leader.
 
These remarks were made by Trump at the Group of Seven (G-7) summit in France where the state leaders of other countries also expressed their concerns about the effect of the increasing trade war between the two countries on the global economy.
 
There had been two calls during the weekend by Chinese official to members of the Trump administration for discussing trade talks, Trump, said. He however refused to comment on whether he had himself talked with his Chinese counterpart Xi Jinping in recent times. Knowledge of the phone calls over the weekend to the US were also not confirmed by a Chinese official while talking to the media.
 
"I think we're going to have a deal, because now we're dealing on proper terms. They understand and we understand," Mr. Trump said. "Very big things are happening with China."
 
Increasing of existing tariff rates on $550 billion in Chinese imports was announced by Trump on Friday. This increase was to be implemented sometime late in the year and was announced in retaliation to China’s announcement of increasing of tariffs on US imports worth $75 billion.
 
The US-China trade war which has been going on for more than year now, has impacted global financial markets, slowed down global trade and the global economic growth and upended the global supply chain. 
 
President Xi was called a "great leader" by Trump because to of his understanding of "how life works". Trump said that Chinese officials had "called last night our top trade people and said let's get back to the table." "I have great respect for it," Trump said. "This is a very positive development for the world… They want to make a deal. That's a great thing."
 
There was a suggestion in the words of Trump on Sunday, according to some analysts, that he was himself now unsure about the hard line that he had taken in dealing with the trade deficit of his country with China. However Trump’s senior aides later said that the "second thoughts" as mentioned by Trump was on whether even harsher tariffs should have been imposed by the US on China.
 
Trump had tweeted about the China deal as: “Great respect for the fact that President Xi & his Representatives want “calm resolution.” So impressed that they are willing to come out & state the facts so accurately. This is why he is a great leader & representing a great country. Talks are continuing!”
 
Confirmation of any calls from Chinese trade negotiators to their US counterparts over the weekend was not confirmed by Beijing and a representative of the Chinese Foreign Ministry said that he was not aware of any such phone conversations.
 
(Source:www.cbsnews.com)






Science & Technology

SpaceX Receives Approval To Create Research & Manufacturing Facility In Los Angeles

JPMorgan: Transition to e-money will be based on blockchain

Tesla In Advance Talks With CATL For Using Lithium Batteries

Financial giants and US government turn to quantum computers

Long Way To Go For Coronavirus Vaccine, Say Drgumakers

Google's subsidiary launches recognition service for photoshopped images

Unapproved Drug For Coronavirus Treatment And Testing Given By Gilead Sciences

Live Facial Recognition Cameras Will Be Used By London Police

Driverless Vehicle For Its Ride-Sharing Service Unveiled By GM’s Cruise

Amazon will allow customers to pay with palms instead of cards

World Politics

World & Politics

Japan’s vice minister will fly to Lebanon to make case for Carlos Ghosn’s return

Compared To China, More New Coronavirus Cases Being Reported From Outside It

EU Informs Britain That It Can’t Slacken EU Climate Goals & Carbon Pricing

France shuts down first reactor of the country's oldest NPP

Coronavirus Outbreak Delays Several Conference And Trade Deals Across The Globe

Germany pledges to fight right-wing extremism after Hanau shooting

Ex-head of Mexican Pemex will be transferred to Madrid prison

China Releases First Detailed Study Of Coronaviurs Attack, Finds Elderly At Most Risk