By MarketWatch, MarketWatch , Associated Press
WASHINGTON — President Donald Trump said Thursday that the U.S. and China are “rounding the turn” in a lengthy negotiation over trade and predicted that “something monumental” and great for both countries could be announced in a matter of weeks.
“We are rounding the turn. We’ll see what happens,” Trump said during an Oval Office appearance with both countries’ negotiating teams. “We have a ways to go, but not very far.”
Vice Premier Liu He, China’s top trade negotiator, agreed, telling Trump that “because of your direct involvement, we do have great progress.” Meanwhile, China’s Xinhua News Agency reported that President Xi Jinping said in a letter to President Donald Trump that substantial progress has been made over trade talks in the past month, and called for negotiations to end as soon as possible.
China and the U.S. are working to end a standoff that has shaken financial markets and darkened the outlook for the world economy.
U.S. and Chinese negotiators on Wednesday began their ninth round of talks to resolve the dispute over American allegations that Beijing is using predatory tactics, including cybertheft, in a campaign to challenge U.S. technological dominance. China has denied the allegations.
Trump has slapped tariffs on $250 billion in Chinese products. In retaliation, China has targeted $110 billion in American imports.
The president said Thursday that he would discuss the future of tariffs the U.S. has imposed on China with Liu.
The president also said he still wants to meet with Chinese President Xi Jinping. “If we have a deal, then we’re going to have a summit,” Trump said.
Trump said he appreciated a “beautiful letter” he received from Xi, but he did not disclose its contents.