NEW YORK, Sept 25 — US President Donald Trump said today that a deal to end a nearly 15-month trade war with China could happen sooner than people think.
“They want to make a deal very badly… It could happen sooner than you think,” Trump told reporters in New York.
The US leader spoke a day after delivering a stinging rebuke to China’s trade practices at the United Nations General Assembly, saying he would not accept a “bad deal” in US -China trade negotiations.
China’s top diplomat hit back at US criticism of its trade and development model yesterday. Wang Yi, China’s foreign minister and state councillor, said Beijing would not bow to threats, including on trade, though he said he hoped a round of high-level trade talks next month would produce positive results.
Trump has sought to pressure China to agree to reduce trade barriers through a policy of increasing tariffs on Chinese products. Yesterday, he accused China of the theft of trade secrets “on a grand scale” and said it was taking advantage of World Trade Organisation rules.
Although Trump held out hope in his UN speech that the United States and China could still reach an agreement, he made clear he wanted a deal that would rebalance the relationship between the two economic superpowers.
Wang said the trade war was inflicting unnecessary damage on both countries, raising costs for American firms, pushing up consumer prices and dampening US growth potential. — Reuters
Source: The Malay Mail Online