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Investing.com-- U.S. President Donald Trump is increasingly focused on clinching an economic deal with China to further open up its markets to U.S. businesses, the Wall Street Journal reported on Friday.
The report comes just days before Washington will engage in fresh trade talks with Beijing. Trump is seeking more economic concessions from China, the WSJ report said, citing people familiar with White House thinking.
The Trump administration was seen actively encouraging China to buy more American technology, having recently lifted on a ban on exports of chipmaking and artificial intelligence to the country. Key among the easing restrictions was Nvidia (NASDAQ:NVDA) being allowed to resume sales of its H20 AI chip in China.
China was also seen resuming exports of key rare earth minerals since late-June.
The U.S. and China agreed in May and June to substantially lower their respective trade tariffs on each other, and signed a framework trade agreement. But both sides are now attempting to clinch a bigger deal, with the U.S. still maintaining tariffs of between 30% to 50% on Chinese goods.
Trump said earlier this week that he could meet with Chinese President Xi Jinping soon, and that the U.S. was “getting along with China very well.”