Trump on China discussions
- We have a deal with China on currency manipulation
- "We [him and Xi] both know there's a very good chance of a deal"
- May or may not include Huawei and ZTE in deal with China
- We have made a lot of progress on tech transfers
- Asked about dropping charges against Huawei as part of a deal said he'll be discussing the issue with US Attorneys and Attorney General in the coming weeks
- Extension of tariff deadline doesn't need to be long
There's been talk about a Trump-Xi meeting at the end of March in Mar-a-Lago.
This all sounds very positive but it looks like the market was expecting him to announce a deal. The S&P 500 was up 20 points but has halved the gain to 10 points.
More:
- Says he disagrees with Lighthizer about MOUs
- Lighthizer says from now on they will use the term 'trade agreement' not Memorandum of Understanding
- MOUs are a contract, they are talking about a binding contract
Sounds like semantics. In any case, they're arguing about it on live TV.
