Trump predicts he'll make trade deal with China

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US President Donald Trump on Thursday said he'd just had "very good" talks with his Chinese counterpart Xi Jinping on the growing trade conflict between the two economic giants. "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. "Also had good discussion on North Korea!"

Mr Xi held the meeting amid signs that China is losing steam as it faces a trade war with the United States, a massive debt buildup and a weakening currency.

Trump and Xi are expected to meet later this month on the sidelines of the Group of 20 summit in Argentina.

Meanwhile, White House economic adviser Larry Kudlow said at an event in Washington that Trump and Xi might be able to break the logjam on issues during the November 30 to December 1 summit.

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Neither leader specified any details of potential progress in their first known direct discussion in several months. In a Fox News interview he said the U.S. is "not dependent on China economically".

The United States has already imposed tariffs on $250 billion worth of Chinese goods, and China has responded with retaliatory duties on $110 billion worth of USA goods.

Earlier on Thursday, Chinese Premier Li Keqiang told a group of visiting US politicians that China and the United States could overcome their differences and get relations back on track if they worked together in a spirit of mutual respect. China also said that the telephone conversation was "positive".

That tripartite agreement, Kudlow said, was very important, as it laid out the brief against non-market economies, such as China.

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But Trump struck a more affable tone on Twitter after the phone call with Xi. "It looks like they are focusing on trade". "We are not on the cusp of a deal", Kudlow said.

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.

China and the United States are locked in a trade war, and both countries have already placed tariffs on some of each others' imports. He added that any deal reached must be "fair".

Trump's posture toward China has been closely watched by investors, who are looking for the possibility of tensions cooling. Xi had an "extremely positive" phone conversation with Trump about trade and other issues, the foreign ministry said Friday, Nov. 2, 2018.

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