Trump seeks comprehensive deal with China

US President Donald Trump 

US President Donald Trump is seeking to reach a deal with his Chinese counterpart Xi Jinping aimed at expanding US exports and boosting Chinese investment in the United States, the New York Times reported on Wednesday, citing people familiar with the matter.

Despite major challenges in reaching an agreement, Trump aims to secure a comprehensive deal with Xi that extends beyond merely redefining the trade relationship.

The sources added that Trump expressed his interest in a deal encompassing significant investments, along with Chinese commitments to purchase more American goods. The agreement will also cover other matters, including nuclear weapons.

China expert Michael Pillsbury stated that the president told him a few months ago about his intention to reach a mutually beneficial deal with Xi.

Pillsbury added that Trump's team is deliberating on key issues, including who should lead the negotiations, which aspects of the 2020 trade agreement China has yet to fulfill, and the most effective strategy to bring China back to the negotiating table.

During his first term, Trump engaged in trade negotiations with China, leading to tariffs on over $300 billion worth of Chinese goods. In response, Chinese officials committed to opening select markets to foreign businesses and increasing purchases of American agricultural products and energy.