President Trump on Thursday talked up prospects for a meeting on trade issues he has tentatively scheduled with Chinese President Xi Jinping next month at the G-20 summit in Argentina.
Trump tweeted that he had a productive conversation with Xi regarding the meeting, trade and other issues, calming earlier fears that the U.S. might impose new tariffs on Chinese products if the meeting went poorly.
“Just had a long and very good conversation with President Xi Jinping of China. We talked about many subjects, with a heavy emphasis on Trade. Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina. Also had good discussion on North Korea!” the president said.
[Opinion: Additional China tariffs will bring Trade War pain to everyone. That’s not a good thing]
Just had a long and very good conversation with President Xi Jinping of China. We talked about many subjects, with a heavy emphasis on Trade. Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina. Also had good discussion on North Korea!
— Donald J. Trump (@realDonaldTrump) November 1, 2018
The president’s tweet caused the Dow to jump 120 points.
White House economic adviser Larry Kudlow on Thursday suggested that the agenda for the meeting was still fluid.
“The agenda is being discussed and worked on inside both camps,” Kudlow said in a live interview with the Washington Post. “I think it will include trade, I’m not 100 percent sure”
A news reports Monday by Bloomberg, citing anonymous sources, said that tariffs covering as much as $257 billion worth of Chinese goods could be announced next month if the meeting does not go well. The U.S. has already hit $250 billion worth of Chinese goods with tariffs ranging from 10 to 25 percent. Placing the total covered with tariffs at a a half-trillion would cover all imports to the U.S.
