We're in very good shape. China, not so good. I'm not here to critique or second-guess the Chinese economy. But most observers believe China to be in a slump, whereas the United States is in a very strong, solid position going into this summit.
However, again to repeat, the president said there is a good possibility that we can make a deal. And he is open to it. But on the other hand, if these conditions I mentioned a few moments ago are not met and not dealt with, the president has said, look. He's perfectly happy to stand on his tariff policies, which 10% - last $200bn. Scheduled to go to 25 per cent. That's not a certainty, but that's the schedule.
And he has said as recently as yesterday or the day before, if need be, if things don't work out in this US-China summit meeting, he will invoke another $267 some odd billion in tariffs. That may not be the first choice. I'm just saying that is his view. If we can't get something done, and things have been moving very slowly between the two countries.
If China will come to the table, or in this case, the dinner table, with some new ideas and some new attitudes and some new co-operation, as the president said, there is a good possibility they can make a deal. He's open to it. So nothing is written in cement or stone. But again, for a free trader, where's the free trade?