President Trump will meet with China’s top trade envoy at the White House Friday afternoon amid growing expectations that the United States could soon announce a trade truce that would help defuse tensions with China.
A Chinese delegation about 30 officials deep has been meeting with U.S. trade officials led by the Deputy U.S. Trade Representative Jeffrey Gerrish. The Chinese side is led by its Vice Minister of Finance Liao Min.
President Donald Trump wanted to double tariff rates on Chinese goods last month after Beijing’s latest retaliation in a boiling trade war before settling on a smaller increase, three sources told CNBC.
The president's trade war with China is already taking its toll on American farmers, who are seeing sales of American soybeans, pork and wheat evaporating as China retaliates against the Trump tariffs and switches to other markets.
President Trump shifted his tone on the trade war with China yet again on Monday, expressing confidence that the two sides can reach a deal and calling President Xi Jinping a “great leader” three days after branding him an “enemy.”
U.S. equity futures moved from negative to positive overnight into Monday after President Trump said China called and is ready to come back to the negotiating table, but Chinese officials are denying the claim.
President Trump asserted on Saturday that he has the authority to make good on his threat to force all American businesses to leave China, citing a national security law that has been used mainly to target terrorists, drug traffickers and pariah stat