On Nov. 9, Xi met former U.S. Secretary of State Henry Kissinger in Beijing and said China wants to resolve disputes through dialogue.
"I think a deal will be made and we will find out very soon", Trump said, noting Beijing's list included 142 items and includes "a lot of the things we asked for". China has responded with import tariffs on goods from the US.
The rising deficit with China is probably a short-term phenomenon, and seems unlikely to persist if Trump follows through with his threat to extend tariffs to all Chinese imports and raise rates from the current 10% to 25% should the two nations fail to reach a deal before the end of the year. It was unclear if the response contained concessions that would satisfy Trump's demands for change.
"Mnuchin and Kudlow can not create a trade deal. Not in the same universe", the Washington-based source said.
Two other people familiar with the talks also said the Chinese offer was a sign of what they characterized as constructive discussions between the two sides ahead of the planned meeting between the two leaders.
The United States had said it would not start formal negotiations on trade until it saw concrete proposals from China to address its concerns.
North Korea resumes ballistic missile program, maintains bases despite halt in launches
Since last week, North Korea has intensified its calls for Seoul not to participate in the vote via its various media outlets. "The CSIS report does a great job identifying missile operating bases that analysts have long suspected".
Chinese President Xi Jinping and President Donald Trump attend a welcoming ceremony November 9, 2017 in Beijing, China. "They are not capable of it", said Derek Scissors, a China expert at the American Enterprise Institute, who said the two men lacked experience in hard trade negotiations.
Trade talks could hinge on whether tariffs rise in January.
Senior administration officials have argued that such negotiations by previous American presidents have resulted in Washington being outplayed by the Chinese, who have used the USA political calendar as an advantage. Current Chinese President Xi Jinping has set out to enforce his own take on socialism with Chinese characteristics, an ideology embraced by successive US administrations despite political differences. "The most likely scenario is that they commit to serious negotiations", he said, adding: "And then that sort of kicks the can and we see what happens".
"I have a great respect for China", Trump said.
"The long-term structural disagreement between the USA and China remains in place - however, we are now dealing with a post-midterm Trump leadership, who just lost the House, especially as Democrats were able to grab seats from agricultural states that feel the most pain from U.S". Pence pointed to the results of USA probes under Sections 232 and 301, which he says revealed a massive abuse of United States intellectual property and trade by China.
Trump, however, has set out to take action against what he considered "unfair" Chinese trade practices such as currency manipulation and intellectual property theft.