Formal trade talks resume between the US and China.
But that’s about all anyone agrees on.
If you look to Bloomberg News, things look a bit promising. According to sources, it seems like the currency deal could happen faster. Tariff hikes scheduled for October 15th would be suspended.
This would be Phase 1. Phase 2 would happen later. That’s when critical issues like intellectual-property rights and forced tech transfers would take center stage.
Over at the NYT, there were talks of green-lighting issuing licenses to some US companies. This would allow them to conduct business with Huawei, a company blacklisted earlier this year.
China’s news outlets paint a different picture.
The South China Morning Post reports “groundwork” talks had made zero progress on critical issues.
The face to face meeting got cut from two days to one.
The Chinese delegation will pack up and head home this evening.
The markets aren’t loving the confusion, DJIA futures were down as much as 322 points.
Will trade talks boom or bust?
Read more here.