İrem UZUN -TDO- President Donald Trump said a deal with China to pause the trade war between the world’s two largest economies was “very close”, propelling the U.S. equity market to a record high. “Getting very close to a big deal with China. They want it, and so do we,” Trump tweeted. Later, at a White House event, Trump said: “We won’t talk about China because we’re working on a deal with China, but I won’t say up until now they’ve loved me.”Chinese commerce ministry also said on Thursday that China is in close communication with the United States on trade.
For more than two months, officials in Beijing and Washington have been attempting to strike a limited truce in their trade conflict, with a deal mainly involving large-scale Chinese purchases of U.S. farm goods and some additional measures on currency and intellectual property. The countries agreed in October to conclude a preliminary trade agreement but talks have failed to produce deals on agricultural purchases by China and rollbacks of existing tariffs imposed by the United States.Beijing has said it would retaliate if the U.S. escalates the trade dispute.
Trump is expected to meet with top trade advisers on Thursday to discuss planned December 15 tariffs on some $160 billion in Chinese goodssuch as video game consoles, computer monitors and toys.