US-China Trade War Latest Developments: Next Round of Trade Talks on Oct 10-11?
After a few days of encouraging news reports coming out from the US and China on trade negotiations, markets are back to receiving mixed signals ahead of the next round of talks scheduled for October. At the end of the previous week, there were reports suggesting that Trump is looking into delisting Chinese companies from American stock exchanges, a move that will set back progress in the trade dispute significantly.
Although another Bloomberg report on Sunday clarified that the US Treasury has no such plans anytime soon, a report on Reuters reveals that Nasdaq is tightening restrictions and slowing down the process for Chinese companies’ IPOs. According to the report, Nasdaq has raised concerns about how most of such companies end up generating capital from Chinese sources instead of attracting US investors despite being traded on American exchanges.
Meanwhile, on Sunday, Chinese Vice Commerce Minister Wang Shouwen also called for a calm and rational approach towards resolving the trade dispute between the US and China during the upcoming round of talks. High-level officials and trade teams are expected to meet in Washington on October 10 and 11 as part of the next round of discussions towards finalizing a trade deal.
Wang also discussed China’s interesting in granting US more access to Chinese markets by increasing its imports as well as by welcoming more foreign investors. China’s economy has suffered as exports have weakened considerably ever since the trade war with the US began over a year ago, and a speedy resolution will help it recover its economic health.
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