G7 Summit 2019: Donald Trump Says US-China Trade Talks ‘To Start Very Shortly’ in Biarritz

Biarritz, August 26: President Donald Trump said Monday that US and Chinese trade negotiators would "very shortly" resume talks in what he described as a breakthrough in the two economic superpowers' trade war. "China called last night..., said let's get back to the table. So we'll be getting back to the table," Trump told reporters at the G7 summit in Biarritz. Trump said that Chinese officials had made two "very, very good calls" and that "they want to make a deal".

The president's tone was in marked contrast to the steady hardening of positions in the number one and two economies. Just last Friday, Trump sharply raised tariffs on all Chinese imports after Beijing hiked its own levies. The United States is trying to force China into deep reforms of its trading model to end decades of practices, including rampant intellectual property theft, that US companies say prevents a level playing field. U.S. Tariffs on China: Donald Trump Threatens Fresh Tariffs Worth $200 Billion.

However, US allies have pressured Trump at the G7 summit in France, saying that the trade war puts the world economy at risk. Trump said that his pressure had paid off, bringing the Chinese back to the table after talks had appeared to have gone off the rails. "They hurt very badly, but they understand this is the right thing to do," Trump said.

"One of the reasons he's a great leader, President Xi…, is they understand how life works." "It's going to be great for China, it's going to be great for the US, it's going to be great for the world," he said. "We're going to start very shortly to negotiate..., but I think we're going to make a deal."

(The above story first appeared on LatestLY on Aug 26, 2019 02:15 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).