Published: Sat, March 16, 2019
Worldwide | By Isabel Fisher

Xi summit won't happen in March

Xi summit won't happen in March

A date is yet to be set for the summit that Trump and Xi Jingping were expected to hold this March at Trump's Mar-a-Lago property in Florida, and in-person talks between trade teams have not been held in more than two weeks.

None the less, followed by the news of a delayed Trump-Xi summit, the Aussie shares alongside currency, which were widely considered as a hallmark of investors' confidence on Chinese economy, had tottered on Thursday (March 14th), as ASX 200 had closed the day deep in the reds and the Australian dollar faltered over 0.50 percent to $0.7050 during mid-morning United States trading hours. However, Schumer said on the Senate floor, "It is abundantly clear that China is playing us".

President Donald Trump on yesterday [local time] dangled the prospect of walking away from a new trade deal with China if it's not to his liking, just as he cut short his summit with North Korea's Kim Jong Un when the two sides failed to reach an agreement. China retaliated by slapping duties on about $110 billion of USA goods.

"I do not think that any type of agreement with China on trade and investment is sustainable, because it is a zero sum game".

US stocks were little changed in late afternoon trading on Thursday amid uncertainty over when a trade deal between the United States and China would be reached.

On December 31, I noted Trump Hails "Big Progress" on Trade Deal With China.

As per Bloomberg, while the officials previously stated that there has been a lot of progress in the trade talks, the summit that will have Trump and Jinping signing an agreement will not happen this month anymore.

"We could do it either way", Trump told reporters Wednesday at the White House. It's got to be the right deal. "I would prefer that, but it doesn't matter that much", he said.

Boeing Co, the single largest U.S. exporter to China, slipped 1 per cent. "We have other deals that we have cooking", he said. Those topics are negotiated at the ministerial level. Lighthizer warned "major issues" remained outstanding in talks.

Shares of Yum China added 0.34 percent, the only advancer in the top 10 stocks. "I knew I wasn't convincing him I was right", Cohn said. He said he often tried during his time at the White House to convince Trump that tariffs made products that Americans buy more expensive and hurt the economy.

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