Chinese tech stocks traded in the USA are surging Thursday after President Donald Trump said he had a good trade talk with Chinese President Xi Jinping.
The two countries already have imposed tariffs on hundreds of billions of dollars of each other's goods and Trump has threatened to slap tariffs on the remainder of China's $US500 billion-plus ($A690b) exports to the United States if the disputes can not be resolved.
"Just had a long and very good conversation with President Xi Jinping of China".
US-China talks have made little progress since May, when Trump put a stop to a deal that would see China buy more energy and agricultural goods to narrow the trade deficit.
Though final decisions have not been made, USA officials are preparing for such a scenario in case a planned Trump-Xi meeting yields no progress on the sidelines of a Group of 20 summit in Buenos Aires in November, according to the report.
Xi was quoted by CCTV as saying after the call with Trump that the two leaders had hoped to expand bilateral trade cooperation. He has also emphasized the need to reduce the US trade deficit with China.
"The economic teams of the two countries should strengthen contact, conduct consultations on issues of mutual concern, and push for a mutually acceptable solution to China-US economic and trade issues", Xi said.
Trump and Xi, in several reciprocal actions, have in recent months imposed higher tariffs on tens of billions of dollars of exports moving between the two countries, increasing tensions between Washington and Beijing.
Meeting a group of Republican lawmakers in Beijing, China's Li noted the China-US relationship's "ups and downs" over the past four decades of diplomatic ties. But Kudlow cautioned that Trump would "aggressively" pursue his agenda against China, if no deals were reached on intellectual property theft, cybersecurity and tariffs on commodities, among other issues.
Separately, the South China Morning Post - also citing unnamed sources - reported that Mr Trump had offered to host a dinner for the Chinese president after the G20 summit.
Tennessee Senator Lamar Alexander told Li that the delegation was there 'to show our respect to a great country and a great people, ' and that the two countries 'are competitors but not adversaries'.
A Justice Department indictment targeted 2 companies based in China and Taiwan and 3 individuals, saying they conspired to steal trade secrets from U.S. semiconductor company Micron Technology Inc. And they're having a hard time, and they'll be fine.
Trump asked key cabinet secretaries to have their staff draw up a potential deal to signal a ceasefire in an escalating trade conflict, the people said, adding that multiple agencies are involved in the drafting of the plan. "I don't think they're ready yet".