Prospect of Trump-Xi talks raises hope

Per­haps a thaw in trade war is com­ing

The Times Herald (Norristown, PA) - - BUSINESS - By Christo­pher Bodeen and Martin Crutsinger

BEI­JING >> With China and the United States open­ing the door to a meet­ing next month be­tween Pres­i­dents Xi Jin­ping and Don­ald Trump, hopes are ris­ing for a po­ten­tial eas­ing of ten­sions in the trade war be­tween the world’s two largest economies.

Wor­ries about the in­creased tar­iffs the two sides have im­posed on each other’s goods have con­trib­uted to this week’s dizzy­ing volatil­ity in fi­nan­cial mar­kets. The higher tar­iffs have el­e­vated costs for com­pa­nies in both coun­tries, and econ­o­mists say that if they re­main in place in­def­i­nitely, they could de­press eco­nomic growth.

A Xi-Trump meet­ing, if it hap­pens, would take place dur­ing a sum­mit of lead­ers of the Group of 20 big­gest global economies in Ar­gentina in late Novem­ber.

In Bali, In­done­sia, where he’s at­tend­ing global fi­nance meet­ings, Trea­sury Sec­re­tary Steven Mnuchin said, “We are hav­ing dis­cus­sions about a po­ten­tial meet­ing.”

Later Fri­day, Larry Kud­low, Trump’s top eco­nomic ad­viser, said in Wash­ing­ton that prepa­ra­tions for the talks were un­der way.

“It looks like there will be a meet­ing in Buenos Aires at the G-20,” Kud­low said in an in­ter­view with CNBC. “We are look­ing at it. The Chi­nese are look­ing at it. Prepa­ra­tions are be­ing



U.S. Pres­i­dent Don­ald Trump, right, chats with Chi­nese Pres­i­dent Xi Jin­ping dur­ing a wel­come cer­e­mony at the Great Hall of the Peo­ple in Bei­jing.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.