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Sun, 08 Dec 2019 13:44 GMT

Trump: May Be Better to Wait post 2020 Election for China Trade Deal


7Dnews London

Tue, 03 Dec 2019 14:09 GMT

President Trump said on Tuesday December 3rd that it might be better to wait until after the United States presidential election in November 2020 to reach a trade agreement with China, Reuters reported.

"I have no deadline. In some ways, I like the idea of waiting until after the election for the China deal. But they want to make a deal now, and we'll see whether or not the deal's going to be right; it's got to be right," Trump told reporters in London, where he was due to attend a meeting of Nato leaders.

"The China trade deal is dependent on one thing, do I want to make it? Because we are doing very well with China right now, and we can do even better with the flick of a pen," Trump said.

He added that China was paying for it, and China was having by far the worst year that they have had in 57 years.

China reported its slowest economic growth in 27 years in October as the trade tensions with the US hit its manufacturing sector.

A so-called ‘Phase One’ agreement announced in October had raised hopes of a de-escalation. Investors have been hoping that the US and China can avert an escalation of their trade tensions.

Trump and Chinese President Xi Jinping had planned to meet and sign the preliminary deal at an Asia-Pacific leaders' summit in Chile in mid-November, but the summit was cancelled.

Before travelling to London, Trump said US legislation supporting protesters in Hong Kong was not making trade talks with China easier, but he was convinced that China still wanted a deal with the US.

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