NYT report citing 'more than half a dozen current and former advisers and others familiar with Mr. Trump’s thinking':
- the president would like to strike a wide-ranging deal with Xi, beyond just trade
- Would go beyond commitment to buy US goods
- Would also include nuclear weapons security
- the Trump administration has not yet settled on what it wants from China
- Lutnick, Bessent and Musk (who has a huge auto plant in China) are telling Trump to make a deal
The Australian dollar has rose on this but it's a good sign for risk assets in general and underscores the idea that Trump doesn't really want to use tariffs.
Separately (but perhaps not coincidentally) this came from China today:
- China unveils action plan to stabilize foreign investment
- China to fully eliminate foreign investment restrictions in manufacturing sector
- China to expand pilot programs for opening telecom, healthcare, and education sectors
- China to promote orderly opening up in the biopharmaceutical field
- China to lift restrictions on domestic loans for foreign investment firms, easing M&A investments
Does that not sound like a offer to the US?
