Trump says possible to have US-China trade deal this week
Washington, May 10 (Sputnik/UNI) US President Donald Trump told reporters on Thursday that it is entirely possible that the United States and China strike a trade deal this week.
"It's possible to do it," Trump said when asked if it is possible to have a US-China trade deal this week.
Trump explained that administration officials will meet with a high-level Chinese delegation at the White House this afternoon to discuss a possible trade deal.
Trump also said he received a letter from Chinese President Xi Jinping expressing hope the two leaders will work together to resolve the ongoing bilateral trade dispute. Trump said he would speak with Xi soon.
However, Trump noted that his administration is currently preparing the necessary paperwork to impose 25 per cent tariffs on $325 billion of Chinese imports.
On Wednesday, a notice published in the Federal Register revealed that the United States is poised to hike import tariffs on Friday on $200 billion worth of Chinese goods.
China has threatened to retaliate with reciprocal measures.
The United States and China have been embroiled in a trade dispute since last June, when Trump announced the imposition of 25 percent tariffs on Chinese goods worth $50 billion in a bid to fix the US-Chinese trade deficit. Since then, the Washington and Beijing have exchanged several rounds of trade tariffs.
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