Donald Trump expects 'great deal' with China over trade

Donald Trump expects 'great deal' with China over trade

American companies operating in China believe that they suffer more from trade disputes than companies from other countries, according to a survey by the American chamber of Commerce, which investigated 219 companies - third of the total manufacturing sector. On Monday, Trump repeated his assertion that China was not "not ready" to strike a deal to bring an end to the costly dispute.

Trump has long threatened to impose tariffs on all remaining Chinese imports into the United States if Beijing fails to meet USA demands for sweeping changes to Chinese trade, technology transfer and industrial subsidy policies.

Despite that, Bloomberg reports that the Trump administration is ratcheting up the pressure for China to cave on trade-though it remains largely unclear exactly what demands the administration is making.

USDCNH has weakened ever since trade wars started earlier this year, with the weaker CNH negating some of the effects of US-imposed tariffs.

The Trump administration has already slapped tariffs on 250 billion dollars' worth of Chinese imports.

China has retaliated with its own tariffs against United States goods, but continues to maintain that there can be no winners in a trade war.

President Trump is due to meet Xi Jinping on the sidelines of the G20 summit in Buenos Aires in November. Any reminders of that just leads to more pessimism.

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Boeing, which saw its stock gain early Monday, became the leading laggard on the Dow, closing down 6.6 percent and suffering its worst day since February 2016.

The Dow Jones Industrial Average was up 206 points to 24,649, the S&P 500 index gained 0.8 percent, while the Nasdaq Composite Index was also up 0.8 percent. "I think that's consequential no matter how you look at it and we'll see what happens when they sit down". Since then, the two sides seem to have drifted farther apart. "You can not have some tentative agreement one day and reject it the next". But US officials have given no indication that they are prepared to do that. This would involve Beijing ceasing the acquisition of new technologies, which the U.S. claims involves theft and forced transfers from firms operating in China, and ending "market distorting" subsidies to major industries. The reason behind this slide isn't because of manipulation by the People's Bank of China.

This is a demand that the Chinese regime can not meet.

The Canadian dollar traded at an average of 76.23 cents USA, its lowest level in almost seven weeks, and compared with an average of 76.29 cents United States on Friday.

But far more is involved.

As the president and his administration have increased rhetoric against China in recent weeks, including accusations of election interference and state-led forced technology transfer targeted at USA businesses, Cui has assumed an unusually public role in defending his government's policies and launching his own direct critiques of the US' approach to the relationship.

Having completely abandoned any claim to promote social equality, let alone bring about an advance to socialism, the Chinese regime is widely regarded as representing an ultra-wealthy capitalist oligarchy. This means it must press ahead with technological and industrial development, a course that has now brought about a direct collision with the US.

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