enhanced_deficit
12-04-2018, 11:28 PM
Even if some troubling theories being put forward in Chinese and US media. Unlike NK's denuclearization claims that later turned out to be not so promising later on, many including MAGA had promised "easy" trade war win against China.
Cracks appear in Trump’s claims of China trade agreement
Wall Street tumbled more than 3 percent Dec. 4 as the U.S. bond market sent unsettling signs about economic growth and investors worried about global trade. (Reuters)
December 4 at 9:43 PM
President Trump’s claims of a new trade agreement (https://www.washingtonpost.com/business/economy/trump-and-xis-g-20-dinner-could-decide-fate-of-us-china-trade-war/2018/12/01/bc2f42b8-f593-11e8-80d0-f7e1948d55f4_story.html?utm_term=.d743f284e753) with Chinese President Xi Jinping showed signs of crumbling Tuesday, with senior officials seeking to play down expectations of a breakthrough and acknowledging that major provisions remained in flux.
U.S. stock markets took a closer look at Trump’s claims of progress with China and promptly sank more than 3 percent as investors puzzled over competing U.S. and Chinese accounts of the outcome of the Group of 20 summit this weekend in Buenos Aires. The reversals more than erased the tepid gains Monday in reaction to Trump’s initial account of what he said were promises made by the Chinese government.
Three days after Trump emerged from his dinner with Xi touting an “incredible” deal, U.S. and Chinese officials were offering different accounts of whether there was a 90-day deadline for progress in new trade talks, the schedule for China to increase its purchases of American farm and industrial products, and Beijing’s plans to reduce or eliminate specific tariffs.
[Stocks are plummeting, but a U.S. recession doesn’t look imminent (https://www.washingtonpost.com/business/2018/12/04/stocks-are-plummeting-us-recession-doesnt-look-imminent/?utm_term=.be80d8ae02a9)]
While Trump tweeted a day after the meeting that China would “reduce and remove” tariffs on U.S. automobiles, his aides acknowledged privately Tuesday that China had made no such commitment.
“Nobody knows what the deal is,” said one top White House adviser, who was among six administration officials interviewed for this story who spoke on the condition of anonymity to describe internal deliberations.
“It doesn’t seem like anything was actually agreed to at the dinner and White House officials are contorting themselves into pretzels to reconcile Trump’s tweets (which seem if not completely fabricated then grossly exaggerated) with reality,” JPMorgan wrote in a trading note.
https://www.washingtonpost.com/business/economy/i-am-a-tariff-man-trump-says-as-china-talks-show-signs-of-sputtering/2018/12/04/516425e4-f7e0-11e8-8c9a-860ce2a8148f_story.html
Tue Dec 4
The Treasury yield curve just inverted, sounding the alarm for recession (http://www.ronpaulforums.com/showthread.php?528943-The-Treasury-yield-curve-just-inverted-sounding-the-alarm-for-recession&)
DOW -800 (https://www.cnbc.com/2018/12/04/stock-market-dow-futures-fall-amid-us-china-trade-deal-skepticism.html)
FEARS OF SLOWING ECONOMY (https://www.cnbc.com/2018/12/04/stock-market-dow-futures-fall-amid-us-china-trade-deal-skepticism.html) https://www.drudgereport.com/i/logo9.gif
After Trump summit, no mention in China of 90-day deadline or trade ...
2 days ago - Analysts wondered if Trump and Xi left their meeting with very different ... where the North Korean delegation went home with a very different set of perspectives ... “The Chinese are always playing for time and any pause that ...
Cracks appear in Trump’s claims of China trade agreement
Wall Street tumbled more than 3 percent Dec. 4 as the U.S. bond market sent unsettling signs about economic growth and investors worried about global trade. (Reuters)
December 4 at 9:43 PM
President Trump’s claims of a new trade agreement (https://www.washingtonpost.com/business/economy/trump-and-xis-g-20-dinner-could-decide-fate-of-us-china-trade-war/2018/12/01/bc2f42b8-f593-11e8-80d0-f7e1948d55f4_story.html?utm_term=.d743f284e753) with Chinese President Xi Jinping showed signs of crumbling Tuesday, with senior officials seeking to play down expectations of a breakthrough and acknowledging that major provisions remained in flux.
U.S. stock markets took a closer look at Trump’s claims of progress with China and promptly sank more than 3 percent as investors puzzled over competing U.S. and Chinese accounts of the outcome of the Group of 20 summit this weekend in Buenos Aires. The reversals more than erased the tepid gains Monday in reaction to Trump’s initial account of what he said were promises made by the Chinese government.
Three days after Trump emerged from his dinner with Xi touting an “incredible” deal, U.S. and Chinese officials were offering different accounts of whether there was a 90-day deadline for progress in new trade talks, the schedule for China to increase its purchases of American farm and industrial products, and Beijing’s plans to reduce or eliminate specific tariffs.
[Stocks are plummeting, but a U.S. recession doesn’t look imminent (https://www.washingtonpost.com/business/2018/12/04/stocks-are-plummeting-us-recession-doesnt-look-imminent/?utm_term=.be80d8ae02a9)]
While Trump tweeted a day after the meeting that China would “reduce and remove” tariffs on U.S. automobiles, his aides acknowledged privately Tuesday that China had made no such commitment.
“Nobody knows what the deal is,” said one top White House adviser, who was among six administration officials interviewed for this story who spoke on the condition of anonymity to describe internal deliberations.
“It doesn’t seem like anything was actually agreed to at the dinner and White House officials are contorting themselves into pretzels to reconcile Trump’s tweets (which seem if not completely fabricated then grossly exaggerated) with reality,” JPMorgan wrote in a trading note.
https://www.washingtonpost.com/business/economy/i-am-a-tariff-man-trump-says-as-china-talks-show-signs-of-sputtering/2018/12/04/516425e4-f7e0-11e8-8c9a-860ce2a8148f_story.html
Tue Dec 4
The Treasury yield curve just inverted, sounding the alarm for recession (http://www.ronpaulforums.com/showthread.php?528943-The-Treasury-yield-curve-just-inverted-sounding-the-alarm-for-recession&)
DOW -800 (https://www.cnbc.com/2018/12/04/stock-market-dow-futures-fall-amid-us-china-trade-deal-skepticism.html)
FEARS OF SLOWING ECONOMY (https://www.cnbc.com/2018/12/04/stock-market-dow-futures-fall-amid-us-china-trade-deal-skepticism.html) https://www.drudgereport.com/i/logo9.gif
After Trump summit, no mention in China of 90-day deadline or trade ...
2 days ago - Analysts wondered if Trump and Xi left their meeting with very different ... where the North Korean delegation went home with a very different set of perspectives ... “The Chinese are always playing for time and any pause that ...