When meeting with Chinese President Xi Jinping, he and Trump discussed the huge trade imbalance between the two nations.
Trump ended up coming out on top as it is now being reported that Beijing is offering the Trump Administration larger market access to prevent an all-out trade war between the two nations.
The Financial Times claims that these concessions are not all that difficult for Beijing.
“At present, foreign investors cannot hold a majority stake in securities and insurance companies in China. The country’s largest companies in these sectors, such as Citic Securities and China Life Insurance, have achieved enormous scale in the 15 years since the world’s second-biggest economy joined the World Trade Organization, making them formidable competitors for new entrants to the market.”
China also seems to be planning to end the 14-year ban on United States imports, as well as purchase more grain from America in order to ease trade tensions.
If negotiations like these continue, no one will be able to argue that Donald Trump knows how to make a great deal.