Gao Lingyun, as an expert close to the Chinese government, was quoted by Global Times on Friday, expressing his take on the likelihood of the US-China phase two trade deal.
Key Quotes:
“A phase two trade deal after November is too far away.
China's willingness to start phase two negotiations depends on the implementation of the phase one deal.
China will push forward a phase two deal at its own pace.
US President Donald Trump should not use the signature of a phase two deal with China as a bargaining chip for his presidential election in November.”
This comes in response to the latest comments from US President Trump on the phase two trade deal. The US will start negotiation the phase-two of the trade deal with China right away, but might opt out to wait until after 2020 presidential election to finish the phase-two of the deal, Trump said.
Trump’s comments failed to have any impact on the market sentiment. At the press time, the Asian equities trade mixed while USD/JPY trades modestly flat around 109.50 amid cautious optimism and ahead of the key US NFP event.
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