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3mo ago

Trump Signals Potential U.S.-China Trade Deal as Xi Jinping Visit Expected

President Trump expresses optimism about a new trade agreement with China while inviting Chinese President Xi Jinping to visit the U.S., though no timeline has been confirmed.

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U.S. President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. REUTERS/Kevin Lamarque/File Photo
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Overview

  • President Donald Trump stated that a new trade deal with China is 'possible,' despite ongoing tensions between the two nations.
  • Trump extended an invitation to Chinese President Xi Jinping to visit Washington, emphasizing their 'great' relationship, but did not provide a specific timeline for the visit.
  • The U.S. recently imposed a 10% tariff on all Chinese imports, citing unfair trade practices and China's role in the fentanyl crisis as key issues.
  • Markets responded positively to Trump's remarks, with the Chinese yuan and certain Chinese stocks experiencing slight gains after his comments.
  • Trump highlighted past trade agreements with China during his first presidency while criticizing the Biden administration for not enforcing those deals.