Trump to meet with Xi
Dow Jones reports that Trump will meet Xi in November at the G20 in Buenos Aires. The report says Trump has dedicated a team to prepare for the meeting.
This news has given a lift to AUD and NZD on hopes for a warming in relations and a slowdown in the trade war.
Could this be what turns markets around? It is so far with the S&P 500 into positive territory. The problem is that a couple hours ago Trump was on TV saying he’s going to be even harder on China.
The report says Treasury Secretary Stephen Mnuchin and National Economic Council Director Larry Kudlow have been worried about the market reaction to the trade fight and have been trying to get talks on track for months, but with little success.
Others in the White House appear to be trying to undermine the talks.
From the WSJ:
“The plan is to get Trump in a room with Xi, get a small win and declare
an end to the whole thing,” said a U.S. source familiar with the
negotiations, who views the talks skeptically.