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Trump predicts 'fast' trade deal with China

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05/24/2019 | 08:47am EDT

WASHINGTON (Reuters) - U.S. President Donald Trump on Thursday predicted a swift end to the ongoing trade war with China, although no high-level talks have been scheduled between the two countries since the last round of negotiations ended in Washington two weeks ago.

"It's happening, it's happening fast and I think things probably are going to happen with China fast because I cannot imagine that they can be thrilled with thousands of companies leaving their shores for other places," Trump said during remarks at the White House, providing no evidence of such an exodus.

Trump also said he will meet with China's President Xi Jinping when they attend the G20 meeting next month in Japan.

Both countries have blamed each other for the breakdown in talks, which were intended to end trade tensions between the world's two largest economies marked by tit-for-tat tariffs.

Trump made the remarks during a free-wheeling news conference after touting a plan rolled out by his administration to provide the country's farmers with an aid package to combat the effects of the trade war, which have hit them particularly hard.

After Trump imposed tariffs on Chinese goods last year, China curbed purchases of U.S. soy, leaving farmers sitting on a stockpile of the commodity. China has also retaliated with tariffs on U.S. corn, pork and other products.

"The $16 billion in funds will help keep our cherished farms thriving and make clear that no country has veto on America's economic and national security," Trump said.

(Reporting by Humeyra Pamuk and Tim Ahmann; Writing by Makini Brice; Editing by David Alexander and Bill Berkrot)

Stocks mentioned in the article
ChangeLast1st jan.
CORN FUTURES (C) - CBR (FLOOR)/C1 -0.95% 391 End-of-day quote.5.27%
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