Trump signals prospect of 'fair deal' on trade

US President Donald Trump on Wednesday played up the prospects of a “fair deal” on trade with China, but his top officials offered few details on how Washington might de-escalate its damaging tariff war with Beijing.

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Mr Trump told reporters his country would have a “fair deal with China’, adding that “everything’s active” when asked if Washington was talking to Beijing. But how soon the tariffs can be lowered “depends on them’, Mr Trump said, referring to Beijing, even as he maintained that he gets along “very well” with Chinese President Xi Jinping and hopes they can reach an agreement.

Trade tensions between the world’s two largest economies have soared as Mr Trump ramped up levies on imports from China this year, imposing an additional 145% tariff on many products over practices Washington has deemed unfair, as well as other issues. Beijing, in turn, has countered with new 125% tariffs on US goods.

Despite signals that Washington is seeking a fair agreement, the state of discussions remains unclear. Asked if there is direct US contact with China on trade, Mr Trump said: “Every day.”