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Trump said if the United States could strike a fair deal with China that would open up its market, he would be very willing to do so.

Trump says of China: "I know they want to make a deal".

WASHINGTON, Nov 2 - U.S. President Donald Trump said on Friday that a lot of progress had been made with China on trade, and he predicted the world's two largest economies would reach a very good deal.

However, "policy talks" will determine whether he imposes additional duties, "not an arbitrary timeline", said Kudlow, who served as the Trump campaign's senior economic adviser.

He also confirmed information about that at the summit of "Big twenty" in Argentina, he is going to meet with Chinese leader XI Jinping. He said trade would be a topic when he gets together with Xi over dinner.

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News signaling improvements in US-China ties, in turn buoying the markets, would provide the president a chance to vie for support in midterm elections on Tuesday that will decide whether the Republicans keep control of Congress. China also said that the telephone conversation was "positive".

The Trump-Xi meeting would be the first since the two countries began hitting each other with import taxes earlier this year. Unlike many other news organizations, we have not put up a paywall.

The possible meeting between Xi and Trump in Buenos Aires is being broached amid growing trade tensions between the two countries after Washington imposed tariffs on tens of billions of dollars of Chinese imports and Beijing responded in kind against United States exports. The United States has targeted $250 billion in Chinese products, and Beijing has lashed back by slapping tariffs on $110 million worth of US goods. The maintenance came after months of increasing trade strains, with the U.S. introducing import tariffs on Chinese goods and the Asian country repeatedly with equal measures. Attorney General Jeff Sessions will announce a new initiative in response, according to a Justice Department official.

"Both leaders attach great importance to China-U.S. ties and economic ties", Lu said.


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