Wednesday, 16 Jan 2019
Business

Trump says his meeting with Xi "extraordinary" could produce profits "far beyond" trade


President Trump stops to talk to the media as he heads to Marine One to leave the South White House lawn last week. (Jabin Botsford / The Washington Post)

President Trump has repeatedly praised his weekend meeting with Chinese President Xi Jinping, suggesting that their dinner in Argentina would not only improve business relations and help American farmers, but could also contribute to reducing the arms race with Russia, thereby saving billions of dollars in military spending.

In the morning tweets, Trump praised his "very strong and personal relationship" with Xi, claiming that they are "the only two people capable of bringing about very positive and huge changes, on the trade and far beyond ".

The president's effusive tweets came amidst disagreements between the two countries over the details of what was portrayed as a ceasefire of the trade war and confusion on a late-night tweet by Trump saying that China would lower tariffs on imports of American cars.

Monday morning, we still did not know if China had accepted anything in this regard.

In a television interview, Treasury Secretary Steven Mnuchin acknowledged that many details still needed to be settled in the coming weeks. "I hope we can make a real deal," he told CNBC's "Squawk Box."

Trump praised the "extraordinary meeting" during which he agreed to cancel a scheduled tariff increase on January 1 in return for an increase in Chinese purchases of US agricultural and industrial products .

The two sides also agreed to begin talks on "structural changes" in Chinese practices, including forced transfer of technology, theft of trade secrets and non-tariff barriers, according to US officials.

"Relations with China have made a BIG leap forward!" Said Trump in one of his tweets. "Very good things will happen. We are dealing with great force, but China also has a lot to gain if and when an agreement is reached. Level the ground!

Trump said US farmers – who were particularly affected by the trade war – would be "a very big and FAST beneficiary" of the ceasefire. He ended one of his tweets with: "Farmers, I love you!"

Trump also said that his relationship with Xi had been helpful in finding a "solution for North Korea" – the United States putting pressure on the rogue country for it to denuclearize – and could possibly lead to a reduction United States military expenditures.

Trump reiterated that his military spending was higher during his tenure as president.

"I am confident that, in the future, President Xi and I, as well as Russian President Putin, will start talking about a significant halt to what has become a major and uncontrollable arms race. "said Trump in another of his remarks. tweets. "The United States spent $ 716 billion this year. Crazy!"

During a busy morning on Twitter, Trump also reiterated his threat to close the border between the United States and Mexico if Congress failed to meet his long-promised Wall Street funding request in a next law of sending.

"We would save billions of dollars if the Democrats gave us the votes to build the wall," Trump said. "Anyway, people will NOT be allowed into our country illegally! We will close the entire southern border if necessary. Also, STOP DRUGS!

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