Tuesday, 02 January 2024 12:17 GMT

Trump Sets Conditions for Future Trade Deal with China


(MENAFN) Ahead of a planned meeting with Chinese President Xi Jinping later this month and a scheduled trip to Beijing in 2026, US President Donald Trump has presented a set of major conditions for any renewed trade negotiations with China.

Addressing reporters at the White House on Monday during a joint appearance with Australian Prime Minister Anthony Albanese, Trump revealed he had received an invitation from Beijing and intends to visit the Chinese capital “fairly early next year.”

He also confirmed he anticipates meeting with Xi at the APEC summit in South Korea to finalize what he described as a “fair” trade agreement.

Trump highlighted several contentious points that he believes must be addressed before any progress can be made.

These include China’s recent restrictions on rare earth exports, the ongoing influx of fentanyl into the US, halted American soybean sales, and the sensitive issue of Taiwan.

Diplomatic strains between Washington and Beijing deepened following China’s decision earlier this month to impose tighter controls on rare earth exports. In retaliation, Trump warned of a possible 100% tariff on Chinese imports beginning in November.

During Monday’s press event, he and Albanese announced a new accord aimed at increasing US access to essential minerals—part of a broader strategy by Washington to lessen reliance on Chinese supply chains.

“I think when we finish our meetings in South Korea, China and I will have a really fair and really great trade deal together,” Trump stated.

The US president also expressed optimism that China would resume its purchases of American soybeans, which had dropped sharply amid the ongoing trade disputes.

Beijing, the globe’s biggest buyer of soybeans, cut imports during the standoff.

Additionally, Trump called on China “to stop with the fentanyl,” sharply criticizing Chinese officials for not taking stronger action against the export of the potent synthetic opioid and its ingredients.

He blamed these exports for worsening the opioid epidemic in the United States.

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