US China Trade Concerns Back On After Navarro Attending Meeting

November 29, 2018 Share Print 0

White House trade policy advisor and China hawk Peter Navarro will be attending a crucial meeting between President Donald Trump and Chinese president Xi Jinping this week, a White House official confirmed to CNBC.

Navarro’s presence at the meeting pours cold water on investors’ hopes of a trade deal.

The news was first reported by the South China Morning Post, sending the Dow Jones Industrial Average briefly to its low of the day. The newspaper had reported last week that Navarro would not attend the Xi-Trump meeting.

The closely watched dinner during the G-20 summit in Buenos Aires this week should provide a some answers in the escalating trade war between Beijing and Washington.

The two countries are still in the process of finalizing the list of advisors who will take part in the meeting, the South China Morning Post said. The world’s two largest economies have struggled to reach a trade deal and de-escalate tensions that have led to increasing tariffs.

Via CNBC

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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.