>> China.>> For months, China and the U.S. have been locked in an increasingly bitter trade war, but on Thursday, leaders of both countries striking a positive note. President Trump tweeted that trade discussions with China were quote, moving along nicely. And that he planned to meet with Chinese President Xi Jinping, at the upcoming G-20 Summit after the two had a quote, very good talk.
China also easing up on the rhetoric, state media reporting Thursday that a phone call with Trump, Xi wished to expand trade cooperation with the U.S. and that he hoped the world's two largest economies, will be able to promote, quote, a steady and healthy relationship. But so far this year, U.S., China ties have been fraught with tension.
>> They're draining us, they're taking our money, they're rebuilding themselves.>> Both countries have placed hefty tariffs on each other's imports. The Trump administration has imposed tariffs on $250 billion worth of Chinese goods, and China has retaliated with duties on $110 billion worth of U.S. goods. Trump willing to go even further, threatening to impose tariffs on all $500 billion plus imports from China, if Beijing fails to meet his demands for sweeping change to its policies on intellectual property, technology transfers, and industrial subsidies.
Trump and Xi's latest comments boosting market sentiment on Thursday. Sending stocks higher for the third trade session, with investors hopeful, that an end to the punishing trade spat is in sight.