TRUMP & XI TO MEET? Is a deal to end the months-long trade war between the US and China in line of sight? The possibility is stirring hopes after unconfirmed reports that US President Donald Trump and his Chinese counterpart Xi Jinping are planning a meeting. Two venues are apparently in the reckoning: the island of Hainan which hosts the annual Boao Forum for Asia and the Mar-a-Lago Resort in Florida, which is reportedly Mr Trump’s preference. A pertinent point is that even if the meeting does take place, it will only be after the March 2 deadline when higher tariffs on US$200 billion of Chinese exports to the US are set to kick in. This raises the question of whether the current trade truce between the world’s two largest partners will be extended. One US official, David Malpass, the Under Secretary of the Treasury for International Affairs, uttered a curt no when asked that question. But speculation is on as preparatory meetings continue in Beijing ahead of talks involving US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He. Those who think a deal is within reach point out that China has been ticking off some items high on the US wishlist – letting down barriers for the entry of foreign firms and pushing a law to ban the theft of intellectual property and coerced technology transfers. Others are skeptical, citing Beijing’s propensity to veer away from promises. The markets, meanwhile, are inching into… [Read full story]
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