The event the world is waiting for happens at 10:30pm EST. President Trump will be holding a bilateral meeting with Chinese Chairman Xi Jinping.
All eyes are turned towards Trump and Xi as they go into what could be one of the most significant meetings of the entire G20. The U.S. and China have seen increasing economic tensions as the two superpowers square off over tariffs and China’s questionable connections to their tech companies.
UPDATE: Video Added: In two visible signals: (1) Chairman Xi brings back Vice-Premier Liu He to the table, signaling potential concession. However, (2) President Trump brings U.S. Manufacturing Policy Advisor, Peter Navarro, the arch nemesis Beijing, signaling no compromise.
[Transcript] PRESIDENT XI: (As interpreted.) Mr. President, let me make a few opening remarks.
It’s my great pleasure, Mr. President, to meet you in Osaka. Forty-eight years ago, in 1971, in a place called Nagoya, just over 100 kilometers from here, Chinese and American ping-pong players participating in the 31st World Table Tennis Championships had friendly interactions with each other. And that marked the beginning of what we now call “Ping Pong Diplomacy.” The small ball played a big role in moving world events. And then, eight years later, in 1979, our two countries established diplomatic relations, 40 years ago.
Forty years on, enormous change has taken place in the international situation and U.S.-China relations. But one basic fact remains unchanged: China and the United States both benefit from cooperation, and lose in a confrontation. Cooperation and dialogue are better than friction and confrontation.
Recently, Mr. President, you and I have stayed in close communication through phone calls and exchange of letters. Today, I’m prepared to exchange views with you on the fundamental issues concerning the growth of China-U.S. relations so as to set the direction for our relationship in the period to come and to advance the China-U.S. relationship based on coordination, cooperation, and stability.
PRESIDENT TRUMP: Thank you very much, Mr. President. We have had a lot of time together, and we’ve become friends. My trip to Beijing with my family was one of the most incredible of my life. I’ve seen a culture that rarely would you see. Chinese culture is an incredible culture.
I look forward to working with you. As you know, we’ve had a excellent relationship, but we want to do something that will even it up with respect to trade. I think it’s something that’s actually very easy to do.
I actually think that we were very close, and then we — something happened where it slipped a little bit, and now we’re getting a little bit closer. But it would be historic if we could do a fair trade deal. We’re totally open to it, and I know you’re totally open to it. I know all of your representatives have been working very hard with my representatives and the representatives of the United States.
And I will say that I think this can be a very productive meeting, and I think we can go on to do something that truly will be monumental and great for both countries, and that’s what I look forward to doing.
And thank you very much hosting us. We appreciate it. Thank you.
PRESIDENT XI: (As interpreted.) Thank you.
Q Mr. President, are you prepared to (inaudible) from Huawei — to end (inaudible)?
PRESIDENT TRUMP: Thank you very much everybody. Thank you.
Q Mr. President, how close are you to getting a deal?
PRESIDENT TRUMP: Thank you.