How would USA and China G20 summit impact Asia stock market

Hannah Rogers
November 19, 2018

"There's no certainty that China will cede to USA demands in trade negotiations, but it's better to talk than to not talk", Kudlow said in an interview on CNBC.

A ministry spokesman, Gao Feng, said Thursday the two sides are "maintaining close contact" following a November 1 phone call between President Xi Jinping and President Donald Trump.

Those briefed on the bid described the proposal earlier this week as falling short of numerous core demands the White House has repeatedly said are must-haves in trade talks with Beijing, including addressing technology transfers and intellectual property theft, according to one of the people briefed.

And Navarro said a deal with China agreed under pressure from Wall Street would bear a "stench".

Most of the document appeared to be a rehash of previous changes already made by Beijing, such as raising equity caps on foreign investment in certain industries, one person said.

Trump's statement came ahead of his meeting with his Chinese counterpart Xi Jinping in Argentina later this month.

Trump this year has imposed steep tariffs on $250 billion of Chinese goods and has threatened to hit the remaining $267 billion in products the United States imports from the world's number two economy each year.

"We will continue to fly and sail where ever global law allows and our interests demand".

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"I don't want to put them in a bad position", said Trump. "And we don't have that anymore".

Trump's comments gave a boost to US stocks with the Dow Jones finishing the day up more than 100 points.

But so far, Washington's tariffs on Beijing have not provided a remedy, with the US deficit on track to set a record in 2018.

"We are talking to them again".

But Kudlow said Navarro's comments did not represent Trump's thinking.

The two sides have been far apart during their months-long tariff dispute, and a source briefed on China's response said it reiterated commitments Xi has made in recent speeches, and demanded that the United States lift tariffs. Additionally, Treasury Secretary Steven Mnuchin spoke with Liu on Friday, according to several reports.

However, the US President isn't expected to make a decision until after he talks to Xi in Argentina.

The two countries resumed talks after the call between the two leaders, ending a three month hiatus that saw relations deteriorate as the United States accused China of interfering in USA domestic politics and seeking to undermine Trump.

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