China Hopes Trump-Xi Meeting Will Help Ease Escalating Trade War

China hopes an upcoming meeting between U.S. President Donald Trump and Chinese President Xi Jinping will help build trust and deescalate the trade war between the world’s two largest economies.

The two leaders are scheduled to meet later this week at the Group of 20 summit in Osaka, Japan, their first face-to-face meeting since trade talks broke off in May.  

Chinese Foreign Ministry spokesman Geng Shuang told reporters Tuesday in Beijing the meeting will hopefully “promote mutual trust” and “resolve some of the outstanding issues we are facing now.”

During a phone call Monday between Chinese Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer, they exchanged opinions on trade and and agreed to maintain communications, China’s Commerce ministry said. China’s state-owned Xinhua News Agency said the phone call was requested by U.S. officials.

A senior U.S. official said Monday the meeting will provide Trump the chance to get China’s position on the escalating trade war. The official added that Trump would be “comfortable with any outcome” of the meeting.

Trump has said he is prepared to impose tariffs on $300 billion in Chinese imports. The move would extend tariffs to everything China transports to the U.S., since Trump had previously imposed 25 percent tariffs on $250 billion in Chinese imports. China has retaliated with tariffs on U.S. goods.

Eleven rounds of previous talks have failed to ease U.S. concerns over China’s massive trade surplus and China’s acquisition of U.S. technology.

 

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