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Trump says trade deal with China could happen sooner than people think

Published 09/25/2019, 06:38 PM
Updated 09/25/2019, 06:38 PM
Trump says trade deal with China could happen sooner than people think

By Jeff Mason and David Brunnstrom

NEW YORK (Reuters) - U.S. President Donald Trump said on Wednesday a deal to end a nearly 15-month trade war with China could happen sooner than people think and that the Chinese were making big agricultural purchases from the United States, including of beef and pork.

"They want to make a deal very badly... It could happen sooner than you think," Trump told reporters in New York.

Trump said later after signing a limited trade deal with Japanese Prime Minister Shinzo Abe there was a good chance of reaching an agreement with China.

He said China was trying to be nice to him and added to reporters: “I was nice to them.”

"We're having some very good conversations," Trump told a later news conference.

"You know why they want to make a deal? Because they’re losing their jobs, because their supply chain is going to hell and companies are moving out of China and they're moving to lots of other places, including the United States."

In the meantime, Trump said, the United States was taking in "billions and billions of dollars in tariffs."

"China is starting to buy our agricultural product again," Trump added. "They’re starting to go with the beef and all of the different things, pork, very big on pork."

"You know they want to make a deal and they should want to make a deal. The question is, do we want to make a deal?”

Trump spoke a day after delivering a stinging rebuke to China's trade practices at the United Nations General Assembly, saying he would not accept a "bad deal" in U.S.-China trade negotiations.

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U.S. Trade Representative Robert Lighthizer said there was communication between the two sides and the Chinese would be in the United States for talks in early October.

"At this stage what you want to do is have confidence building and show goodwill, and I think ... we’re doing that," he told reporters. "The president wants a deal if he can get a good deal. If he doesn’t ... we have a tariff policy in place."

China's top diplomat hit back at U.S. criticism of its trade and development model in a speech on Tuesday after Trump spoke at the United Nations. Wang Yi, China's foreign minister and state councilor, said Beijing would not bow to threats, including on trade, though he said he hoped the high-level trade talks next month would produce positive results.

Wang also dismissed the concerns of those in the United States who worry that China will unseat the United States from its leading role in the world, calling it a strategic misjudgment. Asked about this remark, Trump said: “Maybe they just say that.”

The early October meetings are to include the top trade negotiators from both sides: Chinese Vice Premier Liu He, Lighthizer and U.S. Treasury Secretary Steven Mnuchin. They are expected to determine whether the world's two largest economies are starting to chart a path out of their trade war or headed for new and higher tariffs on each others' goods.

Trump has sought to pressure China to agree to reduce trade barriers through a policy of increasing tariffs on Chinese products. On Tuesday, he accused China of the theft of trade secrets "on a grand scale" and said it was taking advantage of World Trade Organization rules.

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Although Trump held out hope in his U.N. speech that the United States and China could still reach an agreement, he made clear he wanted a deal that would rebalance the relationship between the two economic superpowers.

Wang said the trade war was inflicting unnecessary damage on both countries, raising costs for American firms, pushing up consumer prices and dampening U.S. growth potential.

Latest comments

I think china coming to no.1. They have a good president
By end of month Trump will authorize more tariffs against China, for in his words, lack of proof China is buying more.
Deal won't be signed intill July/August next year. Trump won't let it before cause that will give him the biggest election boost.
Flip flop man in action...
Silly markets responding to his statements
Fake news from fake President.
He didn't know that when he blasted China, Dow also affected. Lol
Tired of hearing the same ********
no, he is not drunk, he is manipulating the market for some people to benefit.
Some serious accusations you got there. You know you can get in trouble with with what you say online, right? Libel is a serious offense. I’m just watching out for you buddy. Don’t want you to land in jail because of one very emotional comment about someone without merit.
You are funny
better tomorrow is right... am i going to jail too for saying this? did US became a dictatorial regime?
I hope the world survives this man
Hope the world survives Elizabeth Warren.
He must have broke wind again.
ah yes Trump doesnt want to end this at all.... an upcoming election and dropping approval rating has no pull. His rating would have been much better if he eased low tariffs in and incentivized companies to move trade away from china. instead of thrusting us toward a recession by ignoring how economics work and doing it all at once.
When the market is down, then a tweet that there is hope, then the markets again get wise and the market retreats. Then another tweet that there is hope, then the market hopelessly hopes again. Come on, after a hundred or more times and the markets continue to say fool me once shame on you, fool me a hundred more times and shame on me. It is suppose to be fool me once shame on me, fool me twice shame on you.
impact on trumps comments are now watered down no longer has the mojo it used to have
Trump the "human" yoyo, going up, down, up and....but empty at it's core
pump continues
Haha..how come this wishy washy person and used to easy change his mind can be a president?
Flip flop Trump.
Haha..how come this wishy washy person and used to easy change his mind can be a president?
People think, not Trump.
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