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Experts: China, US trade relations set to normalize


04-10-2017 09:37 BJT

Full coverage: President Xi Visits Finland, Meets Trump in U.S.

(Source: CGTN)

What was billed as a showdown between the leaders of the United States and China over trade and the DPRK failed to truly materialize. US President Donald Trump previously predicted a "very difficult" meeting with Chinese President Xi Jinping. But, after their first face-to-face at the Mar-a-Lago resort, he trumpeted that they had developed an "outstanding" relationship.

It was an opportunity for the leaders of the world’s two largest economies to get to know each other better and build initial trust.

Although little was produced in the way of tangible outcomes.

Time was too short it seems, to announce any major trade or investment deal. Experts are now trying to make sense of the Xi-Trump summit, and ponder the next steps in the relationship.

At the forum of a leading Chinese global think tank in Beijing on Sunday, participants were optimistic.

During the talks, US President Donald Trump pressed Chinese President Xi Jinping to do more to help reduce the yawning U.S. trade deficit with China, which reached 347 billion US dollars last year.

The United States mainly imports consumer electronics, clothing and machinery from China. A lot of the imports are from U.S. manufacturers that send raw materials to China for low-cost assembly.

Trump had pledged to label China a currency manipulator on the first day of his administration, but has refrained to do so so far. Yet, he's been loud and clear on accusing China of stealing U.S. manufacturing jobs.

The two leaders agreed to a "100-day plan" to discuss trade, aimed at boosting U.S. exports and reducing China’s trade surplus with the United States, but few details have emerged so far.

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