By Denny Gulino
THE WHITE HOUSE (MaceNews) – The officials from China arrived in their black SUVs with sirens and flashing red and blue lights. Seven hours later they went back to the Willard Hotel where the delegation is enjoying a formal dinner Thursday night.
Twelve TV cameras, a flock of reporters and one anti-China protestor shouting into her megaphone watched as senior China officials smiled and without comment departed.
Long before the day’s talks ended President Trump, leaving for a campaign rally in Minneapolis, declared, “We had a very, very good negotiation with China.” He added, “They’re basically wrapping it up.”
He had already tweeted that China Vice Premier Liu He had accepted his invitation to an Oval Office meeting Friday. Liu is the lowest ranking of four vice premiers.
And so commentators were using terms like “mini-deal” and “truce” and “interim” trade deal. Stocks ended a second consecutive session with positive results. The so-called fear index, the VIX, improved about 6% to 17.57.
The Friday focus, then, will be where President Trump prefers it to be. The question he rhetorically posed earlier in the week, “but do I want a deal?” will finally be answered.
China has already purchased a record amount of pork in the past week, The Financial Times reported, more than 100,000 tons.
In five days the U.S. is set to add five percentage points to 25% tariffs on $250 billion in China products and all reports are that China wants suspended that tariff upgrade and the Dec. 15 tariffs on most of the rest of China exports to the U.S..
If Trump announces such a suspension, accepts the China offers of more agricultural purchases, a currency stabilization pledge and some other accessorizing, the year will end with a considerably better prospects for growth than if he turns the Chinese down.
Anticipating the positive outcome, Asia equity market futures were signaling gains in the U.S. overnight, reflecting what Trump said at midday, “It’s going very well.”