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Trump Launched Tweet Barrage at China after they Changed Their Tune on Agreed-to Trade Deal

May 06, 2019

We Crunch the Numbers, You Make the Trade.We Crunch the Numbers, You Make the Trade.
We Crunch the Numbers, You Make the Trade.We Crunch the Numbers, You Make the Trade.

 

  • President Trump launched his Twitter barrage in response to last minute changes that China insisted on at the end of negotiations last week in Beijing, according to Bloomberg
  • Trade Rep Robery Lighthizer briefed President Trump upon his return to Washington
  • China insisted it could not change its laws as part of the trade deal as it had previously agreed to
  • The changes to Chinese law involved the protection of intellectual property and the requirement that US firms reveal proprietary technologies when they create JVs with Chinese firms
  • When China changed its tune on these issues Trade Rep Robery Lighthizer was caught off guard, believing these issues has already been resolved

 

 

 

  • Both countries have been presenting a positive tonem indicating progress was being made; the Bloomberg report says the progress was overstated
  • Additional talks are scheduled for this week in Washington but it is not clear if these will happen
  • China had planned to bring over 100 people, signalling to many it thought a final deal was in reach
  • There has been no official update from either country as of early Monday afternoon
  • Global stocks markets have priced in the resolution to the US-China trade dispute
  • Any outcome short of a resolution is likely to cause short-term pain for investors

 

 
 
 
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