atans1

Outline of Trump, China deal cheers mkts

In China on 28/03/2018 at 4:38 am

The US last week announced proposed tariffs against China, which sent US and Asian markets tumbling.

But China’s premier Li Keqiang said on Monday that China and the US should maintain negotiations.

Mr Li’s comments followed those made earlier by US Treasury secretary Steven Mnuchin, who told US media on Sunday he was “cautiously hopeful” that the US and China could come to an agreement on trade issues.

NYT Dealbook reported on Mon morning NY Time as mkts cheonged (Tuesday NY mkts recovering from Monday’s rise)

Behind Washington and Beijing’s back-channel tariffs talks
After a Friday that saw the markets sink amid fears of a trade war, the U.S. and China are holding high-level talks to defuse tensions, the WSJ reports. Leading them: Treasury Secretary Steven Mnuchin, U.S. Trade Representative Robert Lighthizer and Liu He, Beijing’s economic czar.
Among Washington’s requests, in a letter to Mr. Liu, were lower Chinese tariffs on American cars and more freedom for Wall Street firms to expand in China.
Mr. Mnuchin told “Fox News Sunday” that he believed the recent rate increase by the Federal Reserve was to blame for recent market declines, not tariffs. He added, “We’re not afraid of a trade war, but that’s not our objective.”
News of the talks have lifted markets in Asia and Europe, while S.&P. 500 futures jumped this morning. It will also undoubtedly ease the fears of C.E.O.s, economists and foreign leaders and allies who have openly fretted about the prospect of a trade war. A sample quote, from Larry Fink of BlackRock: “The world does not need a public fight in which we reduce future opportunities.”
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  1. kim jong en has already gone to visit china; he is happy with the situation too

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