After Trump-Xi Summit Trade War on Ice But Questions Remain

Chinese President Xi Jinping and U.S. President Donald Trump concluded their first in-person meeting, striking a friendly tone, avoiding political gaffes and even agreeing to tackle trade imbalances. But soon after the meeting ended, Chinese state media scolded Trump for his military action in Syria.

China will make concessions to give the U.S. better market access in two areas — financial sector investments and beef exports — in efforts to avoid a trade war, the Financial Times reported. This is part of a wider 100-day plan to be hashed out between the two sides.

The Trump-Xi meeting spotlighted trade tensions between the two countries, and other items high on the agenda included discussing a response to an increased nuclear threat out of North Korea. Although the talks were overshadowed by a U.S. strike in Syria, experts have said the meeting was a success given that both sides remained cordial, and took a step toward tackling the trade issue by increasing China’s imports from the U.S.

via CNBC

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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