US President Donald Trump said that trade negotiations with China "are going very well" and that "the weakness of the Chinese economy has given Beijing an excuse to work hard on an agreement."
US officials are meeting with their counterparts in Beijing this week for face-to-face talks after Trump and Chinese President Xi Jinping agreed in December about a 90-day truce in the trade war that shook international markets. Trump imposed hundreds of billions of dollars in import tariffs on Chinese goods, trying to force Beijing to change its practice on various issues, from industrial subsidies to the theft of intellectual property. China responded with its own tariffs.
However, US tariffs were able to damage China, but the retaliatory measures were almost imperceptible. "I think China wants to solve this problem. Their economy is not in order," Trump told reporters, adding, "I think this gives them an excellent incentive to negotiate." When asked what he expected from the talks this week in Beijing, Trump spoke on a positive note. "Negotiations in China are going very well, I really believe that they want to make a deal," he said.
On Friday, Beijing lowered requirements for bank reserves amid slowing growth in the country and pressure from the United States.
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