‘I think we’ll make a great deal with China, and it has to be great’ – Fox interviewStock markets respond with hopes for common ground in next month’s talks with Xi Jinping
US President Donald Trump said a “great deal” with China was around the corner, offering fresh hope there could be a way out soon for Beijing and Washington from their stalemate.
In an interview with Fox News, Trump said the US was going to “win” the trade battle with China.
“I can make a deal right now, I just say they’re not ready,” Trump said. “I think we’ll make a great deal with China, and it has to be great.”
The comments immediately soothed market fears that the trade confrontation between the world’s two biggest economies would become more acute, with Asian markets mostly gaining on Tuesday.
Japan’s Nikkei index reported its biggest single-day gain since mid-August while China’s benchmark Shanghai composite index gained more than 1 per cent after Trump’s comments.
His remarks come just a month before his planned meeting with Chinese President Xi Jinping on the sidelines of the G20 summit in Buenos Aires. The South China Morning Post has previously reported that the bilateral meeting is scheduled for November 29.
Trump’s expressed desire for a “deal” with China – although he insists that the US has to be on the winning side of that deal – has made it possible for Washington and Beijing to find common ground as the Chinese government has repeatedly said it is open for trade talks.
Xi will attend an “import expo” in Shanghai next week, an event designed to showcase Beijing’s willingness to buy more from the rest of the world and to cut its trade surplus.
The bilateral trade imbalance between China and the US has been one of Trump’s long-standing complaints.
