Indications are growing on a pending US-China trade deal

“President Trump said on Thursday that China’s president, Xi Jinping, would be coming soon to the White House, fueling anticipation that the world’s two largest economies may be close to finishing a trade deal, The New York Times reported.

Mr. Trump, in remarks to White House staff, parents and children gathered on the lawn for Take Your Children to Work Day, did not indicate when the meeting might take place or what would be on the agenda.

He has suggested in the past that Mr. Xi would travel to the United States for a signing ceremony once the countries have a final deal.

His comments come as negotiators from the United States prepare to head to China on Sunday for another round of trade talks, which will be followed by talks next month with Chinese officials in Washington.

For months, Mr. Trump’s trade advisers have been jetting between Washington and Beijing as they try to resolve a trade war that has begun to inflict economic damage on both sides of the Pacific.

Furthermore, as CNBC reported on China’s Belt and Road forum in Beijing, Chinese President Xi Jinping spent a good portion of a speech at the Friday opening ceremony discussing his plan for national economic reforms.

Much of that discussion focused on issues at the heart of the ongoing trade war between Washington and Beijing. Notably, Xi said his country will increase intellectual property protection and ‘stop arbitrary technology transfer,’ two of the main sticking points of the trade dispute with the U.S., China’s largest trade partner.

“We will more effectively engage in international macroeconomic policy coordination”, Xi said, according to an official English translation of his Mandarin Chinese remarks.

“A globalized economy calls for global governance. China will strengthen macro policy coordination with major economies to generate a positive spillover”.

SOURCE: US MEDIA REPORT