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A boost for risk assets on this headline, from Dow Jones
Dow Jones reports that the US is proposing a new round of trade talks with China in the near future.
This is potentially great news for a postponement, at the very least, of China-US hostility.
The outreach to Beijing is reportedly being led by Mnuchin, who recently sent an invitation to propose another meeting with a ministerial level delegation.
The U.S. is reaching out to China for a new round of trade talks, in
an effort to give Beijing another opportunity to address Washington’s
concerns over trade issues before the Trump administration implements
additional tariffs on Chinese imports, according to people briefed on
the matter.Senior U.S. officials, led by Treasury Secretary Steven
Mnuchin, recently sent an invitation to Chinese counterparts headed by
Vice Premier Liu He, proposing another meeting to talk about bilateral
trade, the people said.The U.S. side has proposed to have the discussions in the coming weeks,
and has asked the Chinese to dispatch a ministerial-level delegation for
the talks. The proposed meeting might take place either in Washington
or Beijing, the people said.
CNBC’s Eamon Javers is reporting that US plans to announce China tariffs could be on hold, in part due to hurricane.
Risk trades are rallying on this.
The negative part of this is Mnuchin who is often a lone wolf trying to keep the global trading system intact as Trump, Lighthizer and a bunch of other White House officials push for a more aggressive approach to deal-making.