The United States President Donald Trump on Friday lauded good signs ahead of meeting with Chinese President Xi Jinping on resolving the ongoing trade war. The two leaders are currently in Buenos Aires, to attend the G20 summit.
“There’s some good signs, we’ll see what happens,” Trump said in Buenos Aires, reported Moneycontrol.com. “If we could make a deal, that would be good. I think they want to, and I think we’d like to.”
Trump is scheduled to have a dinner meeting with Xi on Saturday, December 1, where the two are expected to discuss trade amid increasing tensions between the two countries.
The Trump government has already imposed tariffs on more than $250 billion in Chinese imports this year, to punish Beijing for its alleged unfair trade practices. In response, China retaliated with its own tariffs on $110 billion US goods.
Trump has even threatened to slap tariffs on the remaining $267 billion worth of Chinese imports which also includes Apple iPhones and laptops developed in China.
Ahead of the G20 summit, White House economic advisor Larry Kudlow revealed what Trump wants out of China in order to get into a trade deal.
“China should change its practices and come into the community of responsible trading nations,” Kudlow said.
He asserted that the US economy is in far better shape than China’s economy, so, the prolonged trade war would affect China more than the US.
“We are in a position to deal with it and handle it very well,” he told reporters.
Kudlow added that China will have to turn to “fairness and reciprocity.” He warned that US concerns over intellectual property theft and China’s forced technology transfers must be taken into account.
In related news, President Trump is also expected to hold a trilateral meeting with Japan’s Prime Minister Shinzo Abe and India’s Prime Minister Narendra Modi at the G20 summit. He will even meet with the presidents of Argentina, South Korea, and Turkey.