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Economy
Defusing tensions, Trump to meet Xi during G20 summit
CKN
2018/10/12 07:19:12
1,940

Oct 12, 2018 (China Knowledge) - U.S. President Donald Trump has extended his invitation through the White House to meet Chinese President Xi Jinping at the G20 Summit next month, in Buenos Aires. According to The Wall Street Journal, both leaders will try to find a mutually agreeable solution to the current trade war, as has been mentioned by officials in both countries.

U.S. Treasury Secretary Steven Mnuchin and National Economic Council Director Larry Kudlow were the ones behind fixing the meeting. Mnuchin has been actively seeking for a peaceful mean, to bring both countries together to work out their differences. However, his efforts were undermined when President Trump decided to go ahead with the implementation of tariffs on Chinese imports, last month.

President Trump had accused China as currency manipulator in his interview to Reuters, in August. Ironically, the U.S. Treasury has released their semiannual report on foreign exchange rate practices yesterday, and China is not labeled as a currency manipulator. Despite the yuan being devalued earlier this year, the Chinese officials have been working hard to prevent the fall of currency from being too precipitous.

The meeting has renewed hopes for many. However, some people remain skeptical about the outcome and the possibility of the talks proceeding as smooth as anticipated now. 

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