Trump says there is a 'really good chance' of US-China trade deal

Trump says there is a 'really good chance' of US-China trade deal

U.S. President Trump answers questions during event to sign executive orders at the White House in
U.S. President Donald Trump answers questions from reporters during an event to sign executive orders on "transparency in federal guidance and enforcement" in the Roosevelt Room of the White House in Washington, U.S., October 9, 2019. REUTERS/Jonathan Ernst

WASHINGTON: President Donald Trump said on Wednesday (Oct 9) there was a very good chance that the United States and China will reach a trade agreement.

Speaking to reporters in Washington, Trump said: "If we can make a deal, we're going to make a deal, there's a really good chance."

"In my opinion China wants to make a deal more than I do," Trump added.

But even as Trump expressed fresh optimism, China has lowered expectations for significant progress from this week's trade talks with the United States, Chinese government officials told Reuters.

While Beijing theoretically wants to end the trade war, Chinese Communist Party officials are not optimistic about the size or scope of any agreement with Washington in the short-term, the Chinese officials said.

Top U.S. and Chinese trade and economic officials will meet in Washington on Thursday and Friday to try to end a 15-month-old trade war that is slowing the global economy and threatens to upend decades-old trade systems. 

Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are due to take part.

Without significant progress, Trump is set to hike the tariff rate on US$250 billion worth of Chinese goods to 30 per cent from 25 per cent next Tuesday.

Source: Reuters

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