Trump hopes that trade agreement with China will be finalized at G20

Kudlow less optimistic about US-China trade deal

-China trade talks can not resume until Beijing outlines specific actions it would take to meet USA demands for sweeping changes to policies on technology transfers, industrial subsidies and market access.

"If we can open up China and make it fair, for the first time ever - this should have done years ago by other presidents but it wasn't - I am very much willing to do it".

Trump said a deal with China would also be good for Beijing. We talked about many subjects, with a heavy emphasis on Trade.

The comments came days after Trump warned he would impose tariffs on all China's shipments to the United States before saying he thought he could "make a great deal with China" but it was not yet ready.

In a phone call with U.S. President Donald Trump, Xi also said he and Trump hoped to expand bilateral trade cooperation, Xi was quoted as saying on CCTV state television.

White House economic adviser Larry Kudlow downplayed the potential for a quick deal.

"We're doing a normal, routine run-through of things that we've already put together and normal preparation", he said.

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Kudlow said on CNBC that the meeting agenda between Trump and Chinese President Xi Jinping at the end of November in Buenos Aires has not yet been worked out, but "we may have a very good meeting in Argentina with President Xi". "If President Trump makes an agreement with President Xi, there is nobody above them to overturn it", he said. "But China very much wants to make a deal", he said.

Meeting a group of Republican lawmakers in Beijing, China's Li noted the China-U.S. relationship's "ups and downs" over the past four decades of diplomatic ties.

Shi also said he thought China had only a limited role to play on the North Korea issue. -China Business Council in Beijing, said there were plenty of challenges that would require significant negotiations in advance of a meeting between Trump and Xi to ensure success. Trump has also threatened to extend the tariffs to all Chinese imports if the meeting in Argentina fails to produce "a good deal".

China has repeatedly questioned the US's sincerity in trade talks, wary of agreeing to something only to have Trump change his mind.

Kudlow said Thursday at an event in Washington that Trump and Xi might be able to break the logjam on issues during the summit.

Trump's posture toward China has been closely watched by investors, who are looking for the possibility of tensions cooling.

With these comments, Trump reacted to rumors that he would actually sign a trade agreement with China at the G20 summit.

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