Financial Markets and EM's rally on Trump trade breakthrough hopes

To Trump's trade czar the key to boosting U.S. industry is playing hardball with China

US and China optimistic on trade, plan talks at G20 summit

Given the speed of Trump's turnaround, Boltansky said he also believed the sudden surge in Trump's optimism was possibly a political play. "We're not on the cusp of a deal".

The two leaders agreed the trade dispute "should be handled properly through substantial consultation", Lu said.

"I know they want to make a deal", Trump said.

"This is pre-election hype created to make the markets happy; there is no imminent deal with China", Greg Valliere, the chief global strategist at Horizon Investments, told Business Insider.

Trump said that if a deal is not made with China, he could impose tariffs on another $267 billion in Chinese imports into the United States, adding that China's economy had "been hit very hard" by previous U.S. tariffs.

Trump's posture toward China has been closely watched by investors, who are looking for the possibility of tensions cooling in their market-shaking trade war.

Both Trump and Chinese President Xi Jinping are due to attend the G20 summit in Argentina which starts at the end of this month, and could hold talks there.

Washington accuses the two companies of stealing trade secrets from USA memory chip maker Micron Technology, but China's commerce ministry opposes the charges and has demanded Washington "remedy the mistake". "We talked about many subjects, with a heavy emphasis on Trade".

The United States attaches importance to U.S.

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Trump said on Twitter that trade discussions with China were "moving along nicely", and that he planned to meet with Xi on the sidelines of the G-20 leaders summit, after the two had a " very good" phone discussion.

"Trump's so-called directive to his staff to draft an agreement is either a hollow gesture or an ostentatious move, or both", he said.

Before leaving the White House for a campaign event, US President added: "I think we'll make a deal with China, and I think it will be a very fair deal for everybody, but it will be a good deal for the United States".

Trump also voiced his support for the China International Import Expo (CIIE) to be held from November 5-10 in Shanghai, which is the first of its kind in China.

Meeting a group of Republican lawmakers in Beijing, China's Li noted the China-U.S. relationship's "ups and downs" over the past four decades of diplomatic ties.

"The Trump administration should not miscalculate China's tolerance for what they perceive as bullying tactics", he said.

Washington and Beijing have been locked in a trade war since July, slapping tariffs of up to 25 per cent on imports of each other's products. According to Trump, a lot of progress has already been made to help resolve the dispute between the two superpowers.

The United States has already imposed tariffs on US$250 billion worth of Chinese goods, and China has responded with retaliatory duties on US$110 billion worth of USA goods. I think we have a long way to go.

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