Trade and North Korea Top of the US-China Agenda

U.S. President Donald Trump holds his first meeting with Chinese President Xi Jinping on Thursday facing pressure to deliver trade concessions for some of his most fervent supporters and prevent a crisis with North Korea from spiraling out of control.

The leaders of the world’s two biggest economies are to greet each other at the president’s Mar-a-Lago retreat in Palm Beach, Florida, late in the afternoon and dine together with their wives, kicking off a summit that will conclude with a working lunch on Friday.



Trump promised during the 2016 campaign to stop what he called the theft of American jobs by China and rebuild the country’s manufacturing base. Many blue-collar workers helped propel him to his unexpected election victory on Nov. 8 and Trump wants to deliver for them.

The Republican president tweeted last week that the United States could no longer tolerate massive trade deficits and job losses and that his meeting with Xi “will be a very difficult one.”

Trump, a former real estate magnate is still finding his footing in the White House and has yet to spell out a strategy for what his advisers called a trade relationship based on “the principal of reciprocity.”

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza