Daily Management Review

US-China Could Reach A Trade Deal In 4 Weeks: Donald Trump


The United States and China could announce a trade deal as early as in four weeks as the two parties are close on finalising it, said the US president Donald Trump. China has said that continuing trading with the US would be very difficult without a formal trade agreement.
The two countries shave been participating in a number of negotiations sessions to iron out a trade deal that would bring an end to the months old trade war between the two countries. While the global markets and trade had been rattled by the trade war, there was renewed optimism and confidence of an end to the trade war following positive signals being given by both sides after trade representative from both countries finished their latest round of talks last week in Beijing. 
There has been agreement between the two countries on some of the tougher points of a trade agreement but a number of issues still needed resolution, Trump said while speaking to reporters at the White House before the beginning of a meeting with Chinese Vice Premier Liu He.
“We’re getting very close to making a deal. That doesn’t mean a deal is made, because it’s not, but we’re certainly getting a lot closer,” Trump said in the Oval Office. “And I would think with, oh, within the next four weeks or maybe less, maybe more, whatever it takes, something very monumental could be announced,” he added.
In case of an agreement on trade, a summit with Chinese President Xi Jinping would be held by him, Trump also said. In a message conveyed by Liu He, an assurance that in a message conveyed by Liu He was sent by Xi for Trump.
A report in the Chinese state-run news agency Xinhua claimed that Trump was informed by Liu He that Xi was of the opinion that new and greater heights would be reached in China-U.S. relations u under his and Trump’s leadership.
There was close contact between the trade teams of the two sides in the past month or more, Xi said, and they had “achieved new and substantive progress on issues in the text of two countries’ trade agreement”.
“I hope the two sides’ trade teams can continue working in the spirit of mutual respect, equality, and mutual benefit to resolve each other’s concerns, and finish negotiations on the text of the China-US trade agreement soon,” Xi said to Trump through Liu.
“It’s going to be great for China, in that China will continue to trade with the United States. I mean, otherwise, it would be very tough for us to allow that to happen,” Trump said when asked about the benefits of an agreement for China.
According to US Census Bureau data, last year, the total trade in goods between the two largest economies of the world - United States and China, was $660 billion. While the US exported goods worth $120 billion China, while imported goods worth $540 billion from China