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

Key Points
  • Chinese President Xi Jinping will present President Trump with the terms it expects the U.S. to meet for Beijing to settle the trade war, The Wall Street Journal reports, citing Chinese officials.
  • China will demand that the U.S. lift 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.
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Trump arrives at the G-20 as a report details Xi's terms for a trade deal

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

Among the conditions is a demand that the U.S. lift 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 at the two-day G-20 summit.

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 that 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.

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

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China Economy

China is not budging ahead of Xi-Trump G-20 meeting

Key Points
  • "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,“ says Gao Feng, spokesman for the Ministry of Commerce.
  • The comments, and those of Ministry of Foreign Affairs Spokesman Geng Shuang at a separate press conference, generally reiterate China's talking points.
  • Gao declined to provide details on an "unreliable entities list" that China has touted since late May.