President Trump is, once again, optimistic that he will be able to strike a trade deal with China — and soon. Speaking from the G7 summit of world leaders in Biarritz, France, on Monday, the president said that he had “very good calls” with China over the weekend, and that serious negotiations are soon to resume. Trump’s positive outlook comes days after he announced the United States would hike tariffs on $300 billion in Chinese good beginning September 1st, and on an additional $250 billion in goods beginning October 1st. “I think we’re going to have a deal, because now we’re dealing on proper terms. They understand and we understand,” Trump said on Monday, adding that it’s “the first time I’ve seen them where they really want to make a deal.” Though the stock market saw an uptick following Trump’s insistence that a deal is imminent, there is absolutely no reason to believe the two nations are any closer to coming to terms than they were when Trump first imposed tariffs on Chinese goods in the spring of 2018. For one, China doesn’t seem to have any knowledge of the calls to which Trump was referring, and neither Trump nor… Read full this story
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