China and the United States will Hold Summit Talks at G20
US President Trump revealed on June 18 that he had a telephone consultation with Chinese President Xi Jinping to reach an agreement on the occasion of the G20 summit in Osaka on the 28th to 29th. Trump also said that preparatory consultations will be initiated by representatives of the Chinese and US governments. The Sino-US consultations that were interrupted by the intensification of the opposition after May will be restarted, but it is still unknown whether a compromise can be found.
Trump pointed out on Twitter that “will hold a wide range of talks” seems to imply not only a trade issue, but also a wide range of issues including North Korea’s diplomacy.
China Central Television reported on the 18th that China and the United States reached an agreement on the holding of the summit. Xi Jinping said in a telephone consultation that “the two sides should solve the problem through equal dialogue” and said that “we also hope that the US side will treat Chinese enterprises fairly” and secretly demand that the United States lift sanctions on Huawei technology.
The Trump administration of the United States is advancing the preparations for expanding the punitive tariff target to the “fourth round” of almost all Chinese products. There are obvious differences in opinions about China’s industrial subsidies, etc. It is difficult to predict whether the trade war will be trampled on.
In the US stock market on the 18th, due to the expectation of the Sino-US opposition easing, the Dow Jones industrial average index rose by more than 300 points from the previous day.