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.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.