US Plays Down Expectations of Trump-Xi Meeting

China US G20

Senior US officials said this week that Trump's stance had not changed and that he was "quite comfortable" with the position of the administration at the moment, and with any outcome of the talks. Apart from that, following the phone call between Lighthizer and Liu He, a senior United States officials in Washington had been quoted saying that Trump would likely to attend the meeting to see where Beijing stood about the tariff warfare and a near-term resolution was not expected, but the trade talks may resume again following the Trump-Xi meeting. Aware that attention is likely to focus on the US-China trade talks, the Japanese hosts are trying to focus on their priority areas, including the fight against ocean plastic and the challenges faced by ageing populations.

After the G20 summit, Trump will make a two-day visit to South Korea from Saturday for talks with President Moon Jae In, according to the first administration official.

Expectations for that meeting so far appear to be low.

China stood ready to seek consensus and solutions with G20 members at the summit in Osaka on promoting global trade growth, advancing world economic development, improving global governance and coping with risks and challenges, Geng said.

Publicly, Chinese officials say the trade war's effects are controllable and they are in no hurry to reach a deal. "Period", said one person familiar with the talks. Once negotiations resume, they could take months or even years to complete, the senior Trump administration official said.

The US has made clear it wants China to go back to the position it held in a draft trade agreement that was almost completed before Beijing baulked at some of its terms, particularly requirements to change its laws on key issues.

Mueller agrees to appear before two House panels next month
On the other hand, Mueller said that if they had believed that Trump did not commit any crime, they would have said it. But he has been hesitant to testify and speak about the investigation beyond a public statement he issued last month.

In a recent letter addressed to U.S. Trade Representative Robert Lighthizer, Tech giant Apple said that the proposed tariffs would impact all of its major products, including iPhone, iPad, Mac, AIRPods and Apple TV.

China is willing to make minor compromises including removing the threat of restricting rare-earth exports to the US, people familiar with the matter said.

Beijing wants the United States to lift tariffs, while Washington wants China to change a series of practices including on intellectual property and requirements that USA companies share their technology with Chinese companies in order to do business there.

The meeting of the two leaders is considered to be very important, the market pros broadly see this summit as an event that could affect the course of markets for the rest of the year.

Last month, Trump more than doubled import tariffs on $200bn worth of Chinese goods to 25 percent. U.S. and Chinese officials have spoken over the phone in the days leading up to the two-day summit, which begins on Friday in Japan, and USA vice president Mike Pence delayed giving a critical speech on China. He noted that although the vice premier still led China's trade delegation, new names had been added to the list who could be hard-liners. It alleges China demands US businesses operating in China to give up some of that information if they want access to the Chinese market.

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