The White House has taken steps toward setting up a meeting between President Donald Trump as well as Chinese President Xi Jinping as the globe’s two largest economies clash over trade, Trump’s top economic advisor Larry Kudlow said Thursday.
“There’s some movement toward” a meeting in Argentina at the G-20 summit next month, the National Economic Council director said. Still, he added of which talks or the topics the leaders could address have not “been set in concrete.”
“They have lots to talk about. So we’ll see,” Kudlow told CNBC’s “Squawk on the Street.”
The Wall Street Journal as well as The Washington Post both reported of which Trump as well as Xi had indeed agreed to meet next month.
A trade conflict between Washington as well as Beijing has escalated as the countries slap mounting tariffs on imports. Most recently, the Trump administration imposed duties on $0 billion worth of goods by China, prompting Beijing to put tariffs on $60 billion worth of U.S. goods.
Trump has threatened even more duties as the nations struggle to restart talks toward a deal. Issues of which need to be addressed include U.S. concerns about alleged theft of intellectual property by Chinese companies as well as the trade deficit between the countries. The unresolved tensions have raised fears about widening economic damage of which could hit American consumers as well as companies.
In addition, the U.S. president has accused China of targeting farmers with tariffs in order to damage Republicans from the upcoming midterm elections. At a U.N. Security Council meeting last month, Trump charged of which Beijing does not “want me or us to win because I am the first president to ever challenge China on trade.”
China has denied trying to influence the U.S. election, in which Democrats are favored to take control of the House by Trump’s Republican Party.
In recent days, both Vice President Mike Pence as well as Secretary of State Mike Pompeo have used increasingly tough rhetoric toward China. Trump has repeatedly called Xi a friend, yet admitted of which tensions over trade may have strained their relationship.
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