Chinese President Xi Jinping and his American counterpart Donald Trump are set to meet after the G20 Summit in Osaka. Analysts predicted that the two leaders may conclude their high-level talks on a positive note just as it did during their December meeting.
Among the reasons why the Xi-Trump meeting could end well even if no trade deal is reached is the fact that Trump has been heaping praise on Xi despite the leaders' differences in standards and state decisions, as noted by CNN.
The outlet pointed out that Trump previously said he gets along with Xi "great." The U.S. president also said earlier this month that he believes there is a chance for a deal since he has a "very good relationship" with Xi.
Many economists also noted that Xi won't really agree with a Trump meeting unless the Chinese government has something good to offer to their American counterparts. China has also said last week that while it doesn't want to be embroiled in a trade war it is "not afraid of fighting it."
During their December 2018 meeting, the two global leaders agreed to put a hold on tariffs. However, Washington accused Beijing of reneging on trade terms. China has denied the allegations.
Some analysts are expecting the two countries to hold off additional tariffs, especially on the White House side, as Trump has repeatedly threatened to add more tariffs if no compromise is met.
Earlier on Thursday, reports emerged suggesting that their pre-conditions were set before Xi and Trump's meeting. However, Trump's economic advisor, Larry Kudlow, clarified that no such things were mentioned before the meet-up.
According to CNBC, Kudlow said the reports are "fake news," adding that Washington may push through with plans to unleash another round of tax duties on billions of Chinese goods.
Kudlow went on to urge the media and spectators to "look, and see what happens, just for the heck of it," adding that there should be forecasts or predictions regarding possible outcomes of the highly anticipated meeting.
Despite some confusion from both sides of the disputing countries, many experts believe that the two leaders will agree on some sort of a truce that should somehow lighten the burden of the trade war, just as they did in Buenos Aires.
Others are almost sure a trade deal won't be reached at the end of the Xi-Trump meeting but a trade truce may be agreed on since both countries have been affected largely by the dispute. Companies are calling on the leaders to resolve the issue as soon as possible so they can recover from the losses brought about by the Beijing vs. Washington saga.
