Dim prospects for deal as China and US resume trade war talks - SCMP

Dhwani Mehta FXStreet

The South China Morning Post (SCMP) carried a story on Thursday, quoting some sources with the knowledge of the matter, as saying that the prospects for a US-China trade deal appear dim, with bigger point of differences persisting.

However, the sources said that both the trade team could reach an agreement on currency pact.

Renmin University international relations professor Shi Yinhong said and key trade observer said: “The US has not changed its extensive and rigorous requests for China, nor has it responded to China’s core concerns. Even if there is a deal, it could only be a mini-deal, even a minimal mini-deal. A currency pact, if true, does not bring any substance.”

Last hour, Bloomberg reported that China was considering asking the US to end sanctions on its biggest shipping company, the China Cosco Shipping Corp, as a part of a trade agreement in today's negotiations.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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