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Trump: China to ink deal after 2020 election victory

A comprehensive bilateral deal with China may or may not be reached, United States President Donald Trump said on Friday, but he also claimed the government in Beijing would sign "almost immediately" if he is reelected next year. Speaking to reporters in the White House, he also expressed the view the dollar is "very strong" and that it makes it "harder to compete." Conversely, the president also said it is a "currency of choice" while that China's yuan is "very low" and that the euro is "not doing so well. 

The greenback today ended at or near the strongest point since April 2017 against the pound and a two-month high compared to the euro, but it strengthened only 0.19% against the offshore yuan so far this year.

Trump expressed the intention to fight for the "developing nation" status of China and unspecified other countries within the World Trade Organization to be revoked through a change in its rules. His renewed offensive comes just days after high-level talks scheduled to take place in the second-largest economy's capital city following a collapse in May.

WTO's "outdated dichotomy" led to "unfair advantages" for some members, in his view. He threatened to disregard the system if there is no improvement in the process within three months.

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