Trump plays up odds of China trade deal as high-stakes meetings resume

REUTERS/Thomas Peter

• President Donald Trump expressed optimism around high-level trade talks with China on Friday.
• Trump is scheduled to meet with China’s top trade negotiator at 2:45 p.m. ET in the Oval Office.
• Financial markets jumped on hope for a deal, with all three major US stock indexes up more than 1%.
• Visit Business Insider’s homepage for more stories.

President Donald Trump expressed optimism toward high-level trade negotiations with China on Friday, saying that he would like to see progress made in a dispute that has threatened growth in the largest economies. 

“Good things are happening at China Trade Talk Meeting,” the president wrote on Twitter. “Warmer feelings than in recent past, more like the Old Days. I will be meeting with the Vice Premier today. All would like to see something significant happen!”

The tweet came just as a delegation led by Chinese Vice Premier Liu He entered a second day of negotiations with Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin in Washington.

Financial markets jumped on hope for a deal, with all three major US stock indexes up more than 1%. Trump is scheduled to meet with Liu at 2:45 p.m. ET in the Oval Office. 

“One of the great things about the China Deal is the fact that, for various reasons, we do not have to go through the very long and politically complex Congressional Approval Process,” Trump continued on Friday. “When the deal is fully negotiated, I sign it myself on behalf of our Country. Fast and Clean!”

Top negotiators from the two sides had not met on US soil since nearly a dozen rounds collapsed in May. On Thursday, Trump sought to sow uncertainty around whether any agreement would be reached.

“They want to make a deal, but do I?” he said.  

Tariffs on thousands of Chinese products are set to increase to as high as 30% on Tuesday. In December, the Trump administration plans to expand import taxes to virtually every shipment from China. 

Read more: The White House eyes new economic penalties against China as trade talks kick off

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