Trump Confirms Meeting with President Xi at G20; Confirms Trade Talks Will Resume Ahead of Meeting

  • President Trump tweeted on Tuesday, confirming that he and Chinese President Xi Jinping will meet next week in Japan at the G20 summit. Trump said that trade talks between the two nations would begin ahead of the meeting.
  • Trump tweeted: “Had a very good telephone conversation with President Xi of China. We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting.”
  • CCTV, China’s state broadcaster, said that “Xi had agreed to the phone conversation at Trump’s request.”
  • According to the Chinese media, Xi told Trump that he was “willing to meet” with him and agreed that both nations “should keep their communications open.”
  • Confirmation of the meeting and the willingness to resume negotiations are the first signs of optimism since negotiations over the trade war ended last month with no resolution.
  • According to reports, Xi told Trump: “On the issue of economy and trade, the two sides should solve problems through equal dialogue, with the key being looking after each other’s reasonable concerns.”
  • Additionally, Xi is reported to have told Trump that he hopes “the U.S. can treat Chinese enterprises fairly.”
  • On news of a possible trade deal between the two superpowers, chip stocks rose on Tuesday.
  • According to reports, “stocks overall were rising on the news Tuesday, but the chip sector — among the most vulnerable to trade uncertainties because of extensive China exposure — was getting a major boost.”
  • Last week, a CEO said: “It is clear that the U.S./China trade conflict, including the Huawei export ban, is creating economic and political uncertainty and reducing visibility for our global OEM customers.”

Reference Links

  • South China Morning Post: Donald Trump and Xi Jinping confirm G20 meeting and restarting of US-China trade war talks READ
  • Financial Times: Trump will have ‘extended meeting’ with Xi at G20 READ
  • TheStreet: Chip Stocks Surge on News of Trump-Xi Meeting at G-20 Summit READ
  • RT: Trump announces new US-China trade talks ahead of his G20 meeting with Xi READ

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