China’s Xi to present Trump with terms for settling trade deal: WSJ

Chinese President Xi Jinping chats with President Donald Trump during a welcome ceremony in Beijing on Nov. 9, 2017.

Chinese President Xi Jinping is expected to present U.S. President Donald Trump with the terms it expects the U.S. to meet before Beijing is willing to settle the contentious trade fight between the two nations, The Wall Street Journal reported Thursday, citing Chinese officials.

Among the conditions Beijing is expected to set, China will demand the U.S. remove its ban on the sale of U.S. technology to Huawei Technologies, Chinese officials with knowledge of the plan told the Journal. China also expects the U.S. to remove all tariffs and drop efforts to get China to buy more U.S. exports.

Trump is in Japan to meet with world leaders amid a flurry of international crises, tense trade negotiations, and a mounting global to-do list.

Trump is attending the annual Group of 20 summit and then is going to South Korea where he’ll address the standoff with North Korea over its nuclear weapons program. Air Force One touched down at Osaka International Airport in a rainstorm ahead of high-stakes meetings with Russia’s Vladimir Putin, China’s Xi, and a host of others at the gathering of the leaders world’s largest economies.

The Chinese Ministry of Commerce maintained a firm stance against the U.S. during a weekly press conference Thursday.

“We urge the U.S. to immediately cancel its pressure and sanction measures on Huawei and other Chinese companies, and push for the stable and healthy development of China-U.S. trade relations,” Gao Feng, spokesman for the Ministry of Commerce said in Mandarin, according to a CNBC translation.

Gao added the China is unchanged on its position on the trade dispute, as laid out by lead negotiator and Vice Premier Liu He in May.

Read the complete Journal report here.

This is breaking news. Please check back for updates.

CNBC’s Evelyn Cheng and The Associated Press contributed to this report.

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