U.S. President Donald Trump and Chinese President Xi Jinping are set for a high-stakes meeting that could salvage trade talks or plunge the world’s two largest economies into a deeper trade war
OSAKA/NEW YORK - U.S. President Donald Trump and Chinese President Xi Jinping are set for a high-stakes meeting in Japan on Saturday that could salvage trade talks or plunge the world’s two largest economies into a deeper trade war.
The dispute has already cost companies in both countries billions of dollars, disrupted global manufacturing and supply lines, and roiled global markets. The trade war and signs of a global economic slowdown have overshadowed the two-day Group of 20 summit in Osaka, where the two presidents will hold one-on-one talks on Saturday.
The United States says China has been stealing U.S. intellectual property for years, forces U.S. companies to share trade secrets as a condition for doing business in China, and subsidizes state-owned firms so they can dominate both domestic and international business.“We feel the U.S. side is exerting extreme pressure,” a Chinese diplomat told Reuters on Friday on condition of anonymity.
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