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US-China commerce, currencies and oil in focus

US-China trade, currencies and oil in focus


US-China commerce, currencies and oil in focus

U.S. President Donald Trump stated Tuesday that he was open to suspending the March 2 deadline for tariffs if Washington and Beijing can attain a commerce deal quickly.

Trump softened his stance on the commerce battle with China, saying he is open to letting the deadline slide, however “would favor to not.” He additionally stated Beijing “very a lot needs to make a deal,” and he has “an enormous workforce” in China making an attempt to achieve a decision.

When requested if he’ll meet Chinese language President Xi Jinping on the finish of March, Trump stated, “Not at this level.”

Trump’s feedback got here because the U.S. and China try and strike a deal amid an ongoing commerce battle between the 2 financial powerhouses.

The March 2 deadline is essential within the negotiations as U.S. tariffs on Chinese language items will improve if a deal shouldn’t be struck earlier than then. Treasury Secretary Steven Mnuchin, together with U.S. Commerce Consultant Robert Lighthizer, are in Beijing this week for one more spherical of negotiations with Chinese language Vice Premier Liu He.

A morning word from strategists at DBS Group Analysis sounded a warning “to not rely the chickens earlier than they hatch.”

“The pendulum on whether or not a US-China commerce deal could possibly be struck has been swinging with US President Donald Trump’s feedback on his on/off assembly with China President Xi Jinping to extending talks past the 1st of March. The extension will solely be attainable if China accedes to US’s push for enforcement mechanisms on areas equivalent to compelled expertise switch and mental property safety,” they stated.

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