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US President Donald Trump's Meeting with Chinese President Xi Jinping Has Been Announced! Here is the critical day
U.S. President Donald Trump will reportedly hold trade talks with Chinese President Xi Jinping on Friday. White House officials have said the meeting is "likely" to take place, but doubts remain that the meeting will be the turning point Trump had hoped for.
A source familiar with trade negotiations noted that Trump is "obsessed" with having a direct phone call with Xi. Trump believes he can resolve the deep trade disputes between the world's two largest economies one-on-one with Xi. However, this approach overlooks the challenges the U.S. faces as it seeks to fundamentally restructure its nearly $600 billion trade relationship with China. At the same time, it raises the question of what Trump's ultimate goal is in this trade war.
A source stated that China's restrictions on critical mineral exports to the U.S. have increased pressure on Washington. It is noted that China has taken a tough stance on the export of rare earth elements and magnets used in many fields, from automotive and electronics manufacturing to the defense industry. The source said, "It is clear that Xi is not very eager to export these materials to the U.S. However, it is still highly likely that he will pick up the phone to listen to Trump."
A former Trump official close to the White House said that Trump believes a direct meeting among leaders would eliminate the noise of the process and allow for a focus on the essence of the issue.
*It is not investment advice.
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