Is there a Trump-China deal in the offing? We'll see

WASHINGTON DC- OCTOBER 31 US President Donald Trump, speaks while flanked by Director of the National Economic Council Larry Kudlow during an event for American workers in the State Dining Room of the White House

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Trump also offered to host a "Western-style" dinner for Xi on December 1, after the G20 leaders' meeting, an invitation that Beijing had tentatively accepted, people familiar with the matter told the South China Morning Post.

Xi was quoted as saying after the call with Trump that they had hoped to expand trade cooperation.

"China has been hurt over the last number of months".

Team Trump on Friday threw cold water on reports that the administration was close to cutting a trade deal with China. Trump, in a tweet after their discussion, said he planned for the two leaders to meet at the G20 summit in Argentina later this month.

Trump also noted that talks have been progressing to the point where China seems more inclined to make a trade agreement and signaled the country may be feeling economic pressure. It also fuelled speculation that Chinese Vice-Premier Liu He's trip to the U.S., which had originally been scheduled for September but was cancelled due to the escalation of the trade dispute, might be back in the cards. -China Business Council in Beijing, said there were plenty of challenges that would require significant negotiations in advance of a meeting between Trump and Xi to ensure success.

Federal Bureau of Investigation director Christopher Wray said the USA has filed a civil lawsuit seeking to prevent the two indicted companies, Taiwan-based United Microelectronics Corp. and China's state-owned Fujian Jinhua Integrated Circuit, from exporting any products created using US trade secrets and blocking the further transfer of trade secrets.

The comments came days after Trump warned he would impose tariffs on all China's shipments to the U.S. before saying he thought he could "make a great deal with China" but it was not yet ready.

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Trump said that in early October China wanted to come in and make a deal, but he told them they weren't ready.

Kudlow believes China is getting isolated in the ongoing trade war, as the United States, Japan, and the European Union officials met in September in NY on the sidelines of the U.N. General Assembly and reached a deal to tackle China's unfair trade practices.

"The best situation (from a Trump-Xi meeting) would be no further actions, temporarily". "We are not on the cusp of a deal", Kudlow said. "But the tariffs already imposed will not go away", Tu said.

A Justice Department indictment targeted two companies based in China and Taiwan and three individuals, saying they conspired to steal trade secrets from US semiconductor company Micron Technology Inc.

"Those discussions are moving along nicely", Trump wrote on Twitter Thursday.

Beijing responded by introducing reciprocal tariffs on US-made goods.

Trump imposed new tariffs on roughly half of Chinese imports this summer, while Beijing fired back with tariffs on most United States products. Ten percent tariffs on US$200 billion in imports that took effect in September are due to increase to 25% on Jan 1.

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