China's Xi promises tax cuts, other help to entrepreneurs

Ivan Schwartz
November 4, 2018

"I think that we will reach agreement with China, and I think it'll be a fair deal for all", said trump.

President Trump said a deal with China would also be good for Beijing.

The ministry said Friday the two leaders agreed to "strengthen economic exchanges" but gave no indication whether they made any progress on settling an escalating tariff war over Beijing's technology policy.

The president's comments reflect the party's commitment to improved conditions for entrepreneurs is "vitally important", said economist Lu Zhengwei of Industrial Bank.

In an interview on Fox News Channel's "The Ingraham Angle" show on Monday, Trump did not specifically mention the potential withdrawal of tariffs, but said he expects "a great deal" with China. "But China very much wants to make a deal", he said. Trump complained for a long time about the trade deficit that the United States has with China and, among other things, wants the People's Republic to import more American goods.

Trump said the American economy is doing well and he has been receiving congratulatory message from across the world.

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Trump is planning to meet Chinese leader Xi Jinping at the Group of 20 (G20) summit in Buenos Aires later this month.

"The sound and stable growth of China-U.S. relations serves the common interests and the fundamental interests of the people of our two countries", Li said. It also fuelled speculation that Chinese Vice-Premier Liu He's trip to the USA, which had originally been scheduled for September but was cancelled due to the escalation of the trade dispute, might be back in the cards.

"I hope that China and the US will meet each other halfway and will appropriately handle their differences with mutual respect and equal cooperation", stated the Chinese premier.

China and the United States should work together to get their relations back on track, China's premier said in Beijing on Thursday, ahead of the U.S. midterm elections and a possible meeting between presidents Xi Jinping and Donald Trump.

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. "And let's see what happens", Trump said at a White House event. Trump has also threatened to extend the tariffs to all Chinese imports if the meeting in Argentina fails to produce "a good deal".

The two nations had already imposed tariffs on United States dollars 50 billion of each other's goods before the September sanctions. And I said, 'You're not ready yet. So talking about ending the battle could help Trump boost the market, which the president has made a key barometer of his success.

Other reports by GizPress

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