The U.S. treasury secretary and the trade representative met with China’s vice premier and other senior Chinese officials for about seven hours in Washington on Thursday.
President Trump told reporters the negotiations went well and reiterated his plans to meet with China’s vice premier today.
Business groups also expressed optimism that the two sides might be able to ease a 15-month trade war, and delay a U.S. tariff hike scheduled for next week.
Senior Analyst at FXStreet, Joseph Trevisani, said that he hopes and expects a limited deal with China after this week’s trade talks.
“I don’t think it really matters what the details are,” he told NTD, “I think it only matters that you get an agreement between the United States and China, which would be historic.”
“It will alleviate the fears of a permanent state of terror warfare between the world’s two largest economies,” he said.
And that would have big implications for the market.
“I think that will take care of some of the concerns in the business community here and the business community in China, which will permit investment.”
He said that if the two countries can make a deal, it will increase business investment, spur the U.S. economy, and raise the value of the dollar against the Euro.
“So the in the United States, the consumer has been spending,” he said “The U.S. is running about 2% on pretty much consumer spending alone. If you add business investment to that, you got a two and a half to 3% economy.
“That will, I think, bring the dollar higher, especially against the Euro, where you don’t have that capacity for any improvement from this kind of trade deal,” he said.
