More US Tariffs on China Goods Not "Set in Stone"

World stock markets rally on news of Trump Xi talks

World stock markets rally on news of Trump Xi talks

Bloomberg reported on Monday that the United States is preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between presidents Donald Trump and Xi Jinping fail to ease the trade war. "Also had good discussion on North Korea!"

"At best, the parties are negotiating about negotiating and we are still miles from a deal", Boltansky said.

The two leaders agreed the trade dispute "should be handled properly through substantial consultation", Lu said. "They are very willing to make a deal", said trump.

China's official Xinhua News Agency said that Xi accepted the call at Trump's invitation.

"China has been hurting us and trade deals have been hurting us", he said, adding that his administration is changing all those trade deals. "We talked about many subjects, with a heavy emphasis on Trade", Trump wrote in a post on Twitter.

The president's remarks helped U.S. stocks to trim their losses on a day that started with market optimism over a Bloomberg report quoting unnamed sources as saying that Trump had ordered his cabinet to draw up terms for a China trade deal. "As the president said, we would like to talk to them about it, but they may not be ready".

Trump says he will have dinner with President Xi Jinping (shee jihn-peeng) of China at the summit of industrial and emerging market nations in what would be their first meeting since both countries imposed escalating rounds of tariffs on goods. While Beijing is open to striking a deal that narrows the trade deficit, officials have resisted Trump's other demands - including an end to subsidies for strategic industries, a stop to forced technology transfer and more competition for state-owned enterprises.

"We view the positive statements as political cover that could lay the ground work for further tariffs if the G20 meeting is not fruitful/timed for near-term market and political benefit", said Ed Mills, a policy analyst at Raymond James.

James Zimmerman, a partner with the Beijing office of law firm Perkins Coie and former chairman of the American Chamber of Commerce in China, questioned Trump's sincerity with regards to a possible trade deal.

"The Trump administration should not miscalculate China's tolerance for what they perceive as bullying tactics", he said. In response, Beijing said it would impose taxes on 5,207 U.S. imports worth about Dollars 60 billion.

The US this year has already imposed tariffs on $250 billion in trade with China. So talking about ending the battle could help Trump boost the market, which the president has made a key barometer of his success. I think we have a long way to go.

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