July 01, 2019
On Monday, President Donald Trump said that trade talks between the U.S. and China have “already begun” following his meeting with President Xi Jinping of China at the G20 summit in Japan.
Trump told reporters that the trade talks were held by phone and that negotiators would also be meeting, adding that any agreement between the two nations would have to lean in the U.S.’s favor.
“They’re speaking very much on the phone but they’re also meeting,” said Trump. “Yeah, it’s essentially already begun. It actually began before our meeting.”
“It has to be better for us than for them because they had such a big advantage for so many years,” he added.
The president cited Beijing’s trade surplus over the U.S. as a reason why a potential trade deal “has to be a deal that is somewhat tilted to our advantage.”
During a bilateral meeting between President Trump and President Xi at the G20 summit, the two leaders agreed not to place new tariffs on each other’s products and continue with trade negotiations that had, at that point, been stalled.
Trump placed tariffs on $250 billion worth of Chinese goods and threatened to place tariffs on an additional $300 billion worth of goods, which would have placed duties on virtually all Chinese imports into the U.S. In turn, Beijing placed tariffs on $110 billion of U.S. goods.
Trade negotiations between the two nations stalled in May following a Chinese delegation’s visit to Washington to participate in high-level talks. President Trump claimed China “broke the deal” by withdrawing from some stipulations that the two nations had agreed upon.
– MK. II