Financial Markets and EM's rally on Trump trade breakthrough hopes

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"We also had good discussion on North Korea", he said. We talked about many subjects, with a heavy emphasis on Trade, ' Trump tweeted. "Xi said both he and Trump have good visions for a healthy, stable development of the China-US relations, as well as expanding economic and trade cooperation, and they should make efforts to realize the wishes", Xinhua said.

Trump had a "long and very good" telephone conversation with his Chinese counterpart on Thursday. Xi had an "extremely positive" phone conversation with Trump about trade and other issues, the foreign ministry said Friday, Nov. 2, 2018.

Later, the White House's Chief Economic Advisor, Larry Kudlow told reporters that the scheduled meeting between Trump and Xi would be more than formal on the sidelines of the G-20 summit and might include a dinner. "We have a new deal", he said adding that the U.S. is now negotiating with the European Union, which has absolutely hurted the United States.

Although U.S. -China relations have been rocky, Keqiang said he is optimistic both nations can work together in the spirit of mutual respect.

"He wants to do it", Trump said of Xi.

Discord has already arisen among Trump's trade team: USA trade representative Robert Lighthizer is opposed to a push for a deal at the G20, according to two of the people. Washington, Europe and other trading partners say those violate China's market-opening obligations and some American officials worry they might erode US industrial leadership.

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"Those discussions are moving along nicely", Trump wrote on Twitter on Thursday.

The report said it was unclear if Trump was easing up on demands that have been resisted by Beijing, and cited one person as saying intellectual property theft is a sticking point on a possible deal. Trump has also threatened to impose tariffs on all remaining goods imports from China, which past year were worth $505 billion.

A Chinese state-owned company was charged on Thursday with stealing technology from USA chipmaker Micron Technology Inc., part of a Justice Department crackdown against China in cases of suspected economic espionage.

Despite the promise offered by the Trump-Xi telephone call, the level of tension between the two nations was demonstrated just hours after it ended when the United States filed charges against Chinese technology firm Fujian Jinhua Integrated Circuit Co and its Taiwanese partner.

China's latest economic indicators suggest the trade war is having a bigger and quicker impact on the economy than expected. He also accused China of unfair commercial practices.

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