President Donald Trump will probably not need to hear at\nleast many Chinese officials to conclude a truce on the trade war between the\ntwo sides, a senior administration official said.<\/p>\n\n\n\n
Trump and Chinese President Xi Jinping are scheduled to meet\nSaturday at the G20 meeting in Osaka, Japan, with high expectations that the\ntwo leaders can reach some deals that at least would delay the exchange of\nreciprocal tariffs.<\/p>\n\n\n\n
Administration officials\u2019 opinions differ on whether a truce\ncan be reached. However, one official said that some relaxation of the tensions\nbetween the countries is a very important thing at the White House and that\ntalking about a truce was more than speculation.<\/p>\n\n\n\n
An official said Trump was closely watching the stock\nmarket, which stalled during the week amid speculation about what would happen\nat the summit. The market was supposed to open higher on Friday but is on its\nway to reaching a loss for the first week after three consecutive weeks of\ngains.<\/p>\n\n\n\n
The official also said the main thing that would stop the\ntruce would be if Xi declared that he would not be willing to impose any\nagreement or write it in Chinese law.<\/p>\n\n\n\n
Trump is meeting with other officials at the summit, but he\ncontinued to tweet about a variety of issues including Democratic presidential\ndebates and market views.<\/p>\n\n\n\n
Markets have often been optimistic about the prospects for a\ndeal, although investors were sensitive to negative news headlines from\ndevelopments over the past year.<\/p>\n\n\n\n
The negotiations continued in stages as tensions escalated,\nand the United States sought to reduce the trade deficit with China, which\nreached 419.5 billion dollars in 2018, an increase of about 12 percent despite\nTrump’s efforts to use tariffs to reduce the gap. The administration imposed a\n25 percent tariff on Chinese imports worth $250 billion and Trump threatened to\ncharge the rest of the $300 billion of goods flowing into the United States.<\/p>\n\n\n\n
Although the markets may see a truce as a positive factor,\nthere is little expectation of major developments at the G20 meeting.<\/p>\n\n\n\n
“Consensus expects can-kicking, but no rolling back of\ntariffs that are already in place. With above-trend economic growth and the\nS&P 500 at an all-time high, there is no sense of urgency on the part of\nthe US to reach an agreement,\u201d said Bank of America Merrill Lynch.<\/p>\n\n\n\n
The “real deal” between the two sides could push\nthe S & P 500 to 3100 or about 6% higher than Thursday’s close, while the\nadditional tariff has the ability to send the index by 5% lower.<\/p>\n","protected":false},"excerpt":{"rendered":"
President Donald Trump will probably not need to hear at least many Chinese officials to conclude a truce on the trade war between the two sides, a senior administration official said. Trump and Chinese President […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":1262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[36,34,114,120,24,131,102,119,23,109,115],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1261"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=1261"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1261\/revisions"}],"predecessor-version":[{"id":1263,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1261\/revisions\/1263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/1262"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=1261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=1261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=1261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}