US-China trade talks hopes growing – TD Securities
|Analysts at TD Securities point out that following China's increased purchases of US agricultural goods, US tariff delays and President Trump noting that a deal "could happen sooner than you think", hopes of progress during a fresh round of trade talks between senior US and Chinese officials in Washington have grown.
Key Quotes
“The incentive for both sides to get a deal done is intensifying given rising economic pressures on both countries. However, the two sides remain far apart on various structural issues (technology transfers, state subsidies, IP theft etc), which will likely not be resolved quickly.”
“While a complete deal may not happen quickly there is potential for agreement on less contentious issues such as Chinese purchases of US goods in exchange for a rolling back of some US tariffs. Also watch out for any discussion on the CNY in any interim deal as well as whether the next phase of tariffs implementation on October 15 will go ahead.”
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