China says Xi-Trump phone call ‘extremely positive’
China says Xi-Trump phone call ‘extremely positive’
Donald Trump Stock Market Will Suffer if Democrats Seize Control in Congress Mark Wilson Getty Images 31 Oct 2018
02 November, 2018, 19:28
US President Donald Trump wants to reach an agreement on trade with Chinese President Xi Jinping at the G20 summit in Argentina later this month and has asked US officials to begin drafting potential terms.
Washington and Beijing are in an increasingly high-stakes standoff over Trump's aggressive move to end what he says have been years of unfair trade practices by China, including rampant intellectual property theft, forced technology transfers and market access barriers.
Neither leader specified any details of possible progress in their first known direct discussion in several months.
On Thursday, Mr Trump spoke with his Chinese counterpart and raised the prospect of a deal to end a trade war.
The two countries have been locked in an escalating trade battle, with each side imposing tariffs on billions of dollars worth of imports from each side.
Federal Bureau of Investigation director Christopher Wray said the US has filed a civil lawsuit seeking to prevent the two indicted companies, Taiwan-based United Microelectronics Corp. and China's state-owned Fujian Jinhua Integrated Circuit, from exporting any products created using USA trade secrets and blocking the further transfer of trade secrets.
"What negotiations have lacked to date has been that (presidential) level of engagement".
The markets were already buoyant after Beijing said it would introduce measures to kickstart the stuttering economy following a string of weak data, including growth at its slowest pace in nine years during the third quarter.
"Dollar moderation, the stabilising trade relationship between U.S. and China and more stimulus from Beijing will be the key ingredients to revive market confidence in Asia".
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News signaling improvements in US-China ties, in turn buoying the markets, would provide the president a chance to vie for support in midterm elections Tuesday that will decide whether the Republicans keep control of Congress. "China does not want to see this", he said, according to Xinhua.
A Justice Department indictment targeted two companies based in China and Taiwan and three individuals, saying they conspired to steal trade secrets from US semiconductor company Micron Technology Inc.
Foreign ministry officials in Beijing said Xi had and "extremely positive" phone conversation with Trump about trade and other issues.
Chinese Premier Li Keqiang on Thursday called on China and the United States to manage and solve differences via consultation.
"China has been hurting us and trade deals have been hurting us", he said, adding that his administration is changing all those trade deals.
"Those discussions are moving along nicely", Trump wrote on Twitter Thursday.
"Just had a long and very good conversation with President Xi Jinping of China".
The two countries already have imposed tariffs on hundreds of billions of dollars of each other's goods and Trump has threatened to slap tariffs on the remainder of China's $500 billion-plus exports to the United States if the disputes can not be resolved. China has responded with retaliatory duties on $110 billion worth of US goods.
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Micron Technology, a computer memory company in Idaho, accused Jinhua past year of stealing intellectual property. China's foreign ministry said it hoped foreign governments would treat Chinese companies "reasonably and fairly".
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Trump's posture toward China has been closely watched by investors, who are looking for the possibility of tensions cooling. The Chinese president was also quoted as saying that he was willing to meet Trump in Argentina during the G-20 summit.
That ad was part of a blitz by Mr Trump's campaign, and his campaign manager, Brad Parscale, did several interviews to promote it. In the video he sports a shaved head and long chin hair and speaks in accented English.
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The case was the first time a Chinese intelligence official was extradited to the United States to be tried in federal court. But one thing's for sure U.S. officials aren't taking such corporate and supposedly state-sponsored hacking lying down.
The women were found lying on rocks near the river, fully-clothed, both wearing black jackets with fur trim and black leggings. The consulate added that it had already appointed a lawyer to follow the case in order "to avoid inaccurate reporting".
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