Getting a trade deal done would likely be a big boost for Trump's 2020 election chances and he said Tuesday he thinks "there will be a deal soon, maybe before the election or one day after the election. And if it's after the election, it'll be a deal like you've never seen, it'll be the greatest deal ever and China knows that", Trump said. "His focus is revealed frequently in the tweets that I think everybody should take very seriously as presidential statements". Also, markets turned their attention to Wednesday's FOMC outcome.
That said, Chen notes that is would be "very difficult" to reach a comprehensive trade deal and argues that China may not meet demands from the United States on IP protection as part of any interim trade deal, should that happen.
In addition to retaliatory tariffs, China has targeted US agriculture, hurting the farmers who make up a big portion of Trump's voting base in rural America, and Pelosi took aim at the president for what Beijing has done to the farming community.
State-run Xinhua news agency says deputy finance minister Liao Min will arrive in Washington Wednesday for talks with counterparts from the Trump administration to "pave the way" for the senior level negotiations, which will also take place in the US capital.
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"They think I'm going to win".
But in an easing of tensions last week, Trump delayed a scheduled October 1 tariff increase on $250 billion worth of Chinese imports until mid-month, as China postponed tariffs on some US cancer drugs, animal feed ingredients and lubricants. The two countries are expected to hold talks this week ahead of higher level discussions in October.
U.S. says it has United States dollars 375 billion trade deficit in USD 636 billion total trade past year.
"We can not go back to a situation where [the U.S.] giving hundreds of billions of dollars to China becomes standard fare". China too threatened a tit-for-tat retaliation but blinked in the end with a categorical undertaking to import more goods from US. "These are low-level tariffs that could go to 50 percent or 100 percent", he said, as reported by the South China Morning Post.