Prospect of Trump-Xi talks raises hope
Perhaps a thaw in trade war is coming
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
TRADE >> PAGE 2
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.