G-20: China Confident of Trade Truce

Published on November 30, 2018
SGH Insight
Senior Chinese officials are very pleased with the initial contacts with their US counterparts and remain confident the Buenos Aires talks will lead to a temporary truce on trade (see also this morning’s SGH Report 11/30/18, “China: Xi’s G-20 Proposals to Trump”).

Treasury Secretary Steve Mnuchin and President Trump’s son-in-law Jared Kushner have met, from what we understand, with China’s two lead negotiators, Vice Premier Liu He and China’s top diplomat, Yang Jiechi. Beijing understands these two are leading the US delegation as Trump’s most trusted confidantes and aides, supported in turn by US Trade Representative Robert Lighthizer.

While much remains still to be done, Beijing reads the initial signals from the US side so far as very positive towards reaching a mutual understanding and trade truce at the summit.
Market Validation
(Bloomberg 12/3/18)
Stocks Jump With Bond Yields on Trade

Senior Chinese officials are very pleased with the initial contacts with their US counterparts and remain confident the Buenos Aires talks will lead to a temporary truce on trade (see also this morning’s SGH Report 11/30/18, “China: Xi’s G-20 Proposals to Trump”).

Treasury Secretary Steve Mnuchin and President Trump’s son-in-law Jared Kushner have met, from what we understand, with China’s two lead negotiators, Vice Premier Liu He and China’s top diplomat, Yang Jiechi. Beijing understands these two are leading the US delegation as Trump’s most trusted confidantes and aides, supported in turn by US Trade Representative Robert Lighthizer.

While much remains still to be done, Beijing reads the initial signals from the US side so far as very positive towards reaching a mutual understanding and trade truce at the summit.

 

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