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Beijing / Washington (AP) – US President Donald Trump wants the trade dispute with China after a media report later this month.
At the G20 meeting in late November, he wanted to conclude a trade deal with the president of the world's second largest economy, Xi Jinping, the Bloomberg news agency reported. badet I've already instructed government employees to prepare details.
The trigger for this step was the phone call with Xi Jinping Thursday, first conversation of the two presidents for six months. Trump himself called the conversation "long and very good" and commented positively on Twitter the progress of negotiations on a trade deal. The Foreign Minister in Beijing said after the phone call that Xi Jinping was "very happy" to have spoken to Trump again. At first, however, there was no mention of a possible agreement.
The hope of ending the customs dispute that lasted for several months boosted Asian stock markets on Friday. The stock market in China has reacted with significant increases. The Shanghai Composite rose 2.7% to 2676 points in the afternoon (local time), while Hang Seng in Hong Kong jumped 3.6% to 26341 points.
The recent escalation of trade disputes between the two largest economies has left investors unsettled for months. Economists fear that a protracted conflict can have serious consequences for the entire global economy. Trump is the huge US trade deficit with China. He also throws Pekin Price of dumping and theft of technology.
The heads of state and government of the group of the largest industrialized and emerging economies of the G20 will meet on November 30 and December 1 in Buenos Aires, the capital of Argentina, for their annual summit.
After the start of the conflict in Washington, the two sides were too tight with new rounds of reciprocal punitive tariffs. Washington has imposed additional duties of $ 250 billion on Chinese products, about half of all imports from the People's Republic. Among other things, China has defended itself by imposing tariffs on imports from the United States, particularly in the agricultural sector.
In addition to the trade dispute, Beijing is currently facing many other construction projects in the economy. Industrial production increased more slowly for five consecutive months. The fight against debt and financial risks increases the loans to entrepreneurs. The growth of the retail trade is slowing down. Auto sales declined for the third consecutive month in September and could even decline for the first time in nearly three decades this year. The management in Beijing offered tax breaks and other forms of badistance to businesses to cope with the economic downturn.
The world's second largest economy grew 6.5% slower than expected over the last three months. China's economic growth was weak in early 2009 after the onset of the global financial crisis.
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