Trump predicts “fantastic” trade deal with China

US President Donald Trump thinks a “fantastic” deal with China is in the offing.

Speaking alongside visiting Australian Prime Minister Anthony Albanese on Monday, Trump told reporters (AP):

• “I think we’re going to end up having a fantastic deal with China."
• It’s going to be fantastic for both countries, and it’s going to be fantastic for the entire world.”

Some context: With just over a week until Trump’s planned meeting with Xi Jinping on the sidelines of the APEC summit, speculation is swirling as to whether the two countries can keep the fragile trade truce alive.

Trump’s comments on the recent escalation were characteristically light on details:

• “[China] threatened us with rare earths, and I threatened them with tariffs.”
• “If we don’t make a deal, I’m putting on an additional 100% on November 1. I think we’ll make a deal.”

Get smart: Trump’s “fantastic deal” rhetoric glosses over the scope and complexity of US-China economic tensions.

• His upbeat tone may help grease the wheels for a successful meeting with Xi, but the working-level grind that follows will be long, grueling, and littered with dead ends.