" that will address intellectual property and financial services concerns, and include purchases of about $40 billion to $50 billion worth of agricultural products by China.Citi analysts pointed out that during normal times, China's purchase of U.S. agricultural products was about $20 billion, which makes the numbers Trump announced appear "overly large."
"Despite what appears to have been achieved in the October talks, we remain cautious on an eventual trade deal," the analysts wrote in a note. "The US offers are far from what China has been demanding, as showcased in its June State Council White Paper: reasonable purchases of US imports, removal of existing tariffs, and giving the trade document a balanced treatment."
They added that Washington's decision to not raise an additional 5% tariffs on $250 billion of Chinese exports to the U.S. this week will "have little impact on the Chinese economy at the margin given the tariff impact has mostly played out." The trade fight, which began last year, has roiled global markets, created uncertainty for companies and dented economic outlook.
LOL
Partial trade deal causes markets to rise? Utter nonsense. When we were lied to the first time, the so called ‘Fantastic China Trade Deal’ was 90% complete. Now we are at phase 1 of 3 (or 30% complete) with a verbal? Give me a freaking break.
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Source: BusinessInsider - 🏆 729. / 51 Read more »