US President Donald Trump claimed on Money that discussions on a trade agreement with Beijing have restarted following a weekend truce struck with Xi Jinping of China on the sidelines of the Group of 20 summits.
The US President and Chinese President to detain on new tariff increases as the top two economies of the world bargaining a final agreement for resolving their year-long trade war. The US President also offered few discounts on the export of the US technology to Chinese telecoms giant Huawei, prompting a backlash from some US legislators.
The US President told reporters at the White House while questioned if trade negotiations have resumed. He also told, “they’re speaking very much on the phone but they’re also meeting. ”
He added, “ it has to be better for us than for them because they had such a big advantage for so many years”, mentioning to China’s escalating US trade surplus, which the US President outlooks as a loss for the United States.
He also added, “obviously, we can’t make a 50/50 deal. It has to be a deal that is somewhat tilted to our advantage. ”
At the weekend, the US President also offered to discount few restrictions on US technology exports to the Chinese telecom giant Huawei, which American officials state as a tool of Chinese spying.
But the Republican leader said any final resolution of the matter would have to emerge while both sides hit a final deal. The apparent substance in US-China trade relations withdraw a collective sigh of ease from the international markets, which rendered a relief rally on Monday, even though vital major questions about any deal remain unresolved
The US President rammed up tariffs in May on more than $200 billion in Chinese imports after charging Beijing suddenly retracting on commitments made during extensive negotiations started in the last year.