** As to the timing and target for a summit between the two leaders, Xi expressed a willingness in the discussions last week to meet with Trump, if all goes as planned, as soon as this spring. And even though initial leaks are that the “Buenos Aires truce” deadline expiring on March 1 will be extended for 60 days, Chinese sources indicate that if the trade “framework” (MOU) is agreed to soon by the two leaders, they could move on a summit as soon as the second half of March.
** Indeed, from what we understand, Treasury Secretary Steve Mnuchin conveyed an invitation from Trump to visit as soon as next month (presumably at Mar–a–Lago), but that will remain pending completion of the MOU.
** As to the state of the current negotiations, our sourcing has been and remains strongly at odds with the more widely reported news reports dismissive of the rounds of negotiations over these last weeks as “same old, same old” from Beijing, with little to no progress on any real issues of importance to Washington.
Stocks, U.S. Futures Climb on Trade-Deal Optimism
Markets await word on talks with China; Treasuries edge higher
U.S. equity futures advanced alongside global stocks after the U.S. and China were said to close in on a trade deal that may end American tariffs in return for Chinese concessions. The dollar edged higher with Treasuries, while commodities were mixed.
Gains in media and construction shares led the Stoxx Europe 600 Index to the highest level in five months. Contracts on the S&P 500, Dow and Nasdaq climbed after Chinese and Japanese stocks jumped in Asia. The mooted trade deal was said to require Beijing to follow through on pledges ranging from better protecting intellectual-property rights to buying a significant amount of American products. The yuan strengthened. The dollar firmed against most major peers even after U.S. President Donald Trump warned against it becoming too strong.
Bloomberg reported Friday that the U.S. and China were
close to finalizing a trade deal and that the White House was
eyeing a summit between Presidents Donald Trump and Xi Jinping
as soon as mid-March. Plans for a signing ceremony has been
complicated by Xi’s need to lead China’s annual National
People’s Congress in early March, as well as make other foreign
trips, people familiar with the plans said.
The Journal reported the summit could happen later, around