Trump Hints China Trade Moves for Argentina G20 After Xi Call

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"China has been hurt over the last number of months".

"China has been hurting us and trade deals have been hurting us", he said, adding that his administration is changing all those trade deals.

"Xi said both he and Trump have good visions for a healthy, stable development of the China-US relations as well as expanding economic and trade cooperation, and they should make efforts to realize the wishes", Xinhua said. "They want to make a deal", Trump said Friday outside the White House.

On Thursday, the U.S. accused a Chinese state-owned company of conspiring to steal trade secrets of USA chip-maker Micron Technology Inc as part of a Justice Department crackdown against China in cases of suspected economic espionage.

President Donald Trump tweeted on Thursday that he had a "good conversation" with Chinese President Xi Jinping.

"What they've done to our country is take out anywhere from $300 billion to $500 billion a year".

Federal Bureau of Investigation director Christopher Wray said the USA has filed a civil lawsuit seeking to prevent the two indicted companies, Taiwan-based United Microelectronics Corp. and China's state-owned Fujian Jinhua Integrated Circuit, from exporting any products created using US trade secrets and blocking the further transfer of trade secrets.

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Tu Xinquan, a trade expert at Beijing's University of International Business and Economics, said he was sceptical that the Trump administration was truly ready to deal, and that other factors, such as the mid-term congressional elections, could be driving statements from the administration.

President Trump has made very clear to China that they must change their "unfair" trade practices including theft of USA intellectual property. "But the tariffs already imposed will not go away", Tu said.

Fujian Jinhua Integrated Circuit Co and Taiwan's United Microelectronics Corp were indicted along with three individuals, the Justice Department said.

Trump said in a tweet on November 1 that he had "a long and very good conversation" with Xi, offering some hope that trade tensions may cool after the G20 meeting.

Xinhua, China's state news agency, reported on Friday that Mr Trump had told the Chinese leader that "he looks forward to meeting Xi during the G-20 summit so they can have an in-depth discussion about some major issues".

"No country presents a broader, more severe threat to our ideas, our innovation, and our economic security than China", Wray said.

Lu Xiang, a specialist on U.S. affairs at the Chinese Academy of Social Sciences, said that Beijing had been preparing for a "worse than the worst" confrontation with the United States, and added that any further escalation would be fatal to an already highly volatile USA stock market. Ten percent tariffs on US$200 billion in imports that took effect in September are due to increase to 25% on Jan 1.