Trump says he'll speak Tuesday with President Xi of China

The U.S. and China remain far apart on trade following high-level meetings. Bloomberg’s Tom Mackenzie reports

The U.S. and China remain far apart on trade following high-level meetings. Bloomberg’s Tom Mackenzie reports

Lyu Xiang, a researcher at the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, said as pillar industries of the USA and European Union are less complementary than those of the United States and China, the next target of the Trump administration might be the EU.

DPRK is the acronym for North Korea's formal name, the Democratic People's Republic of Korea. China wants the stop an investigation into the country's acquisition of sensitive American technologies.

"The two sides' teams can maintain communication, and strive to find appropriate ways to resolve issues and achieve win-win outcomes", Xi said.

Ross was part of a US delegation led by Treasury Secretary Steven Mnuchin that met May 3-4 in Beijing with senior Chinese officials led by Vice Premier Liu He.

The two sides laid out their demands at the meeting, but no agreement or consensus was reached. Last year Beijing backed a series of U.N. Security Council resolutions created to choke off funding for the weapons development.

The US delegation also asked that most of China's deficit reduction come from purchases of US goods.

Trump, while demanding China to reduce the USD 375 billion by USD 100 billion, retaliated with USD 50 billion tariffs on Chinese products.

"Xi Jinping reiterated China's position on the Korean Peninsula issue and emphasised that China supports the U.S. and [North Korea] leaders' meetings", according to the state-owned China News Service.

Trump also reiterated his commitment to ensuring that the US and China have a balanced investment and trade relationship, according to the statement.

"China is willing to continue to play an active role in realising the denuclearisation of the peninsula and the long-term stability of the region". The two covered Xi's meeting with North Korean leader Kim Jong Un and agreed on the importance of continuing sanctions on North Korea until it permanently dismantles its nuclear and missile programs, according to a White House statement.

China has joined a US -led campaign to sanction North Korea over its nuclear weapons and ballistic missile programs. It was their second meeting, following Kim's visit to Beijing in March.

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