China’s Xi Jinping offers trade concessions to US

Xi Jinping offers trade concessions

Xi Jinping offers trade concessions

Let’s quickly look at the top article of the week before getting into the current story. First things first,  V-readings are in the stratosphere, and that seems to be fitting given the extreme moves we have seen in the sentiment arena and the markets.  Higher V readings are associated with more volatility but when the trend is positive (as is the current case), larger moves are experienced towards the upside once the markets stabilize. In other words, once these markets stabilise, the markets will move two to three steps forward and regress 1 step backwards. Insider Buying And The Coronavirus Pandemic

Chinese leader Xi Jinping has pledged to lower car tariffs, improve intellectual property protection and open up the Chinese economy, addressing United States complaints in an escalating trade dispute.

Xi made his remarks on Tuesday at the Boao economic forum on the southern island of Hainan. He did not mention US President Donald Trump directly.

“China’s door of opening-up will not be closed and will only open wider,” Xi said in his first public speech since the outbreak of trade tensions between China and the US.

Also on Tuesday, it emerged that China filed a complaint against the US at the World Trade Organization (WTO) over steel and aluminium products tariffs imposed by Washington.

A document published on the trade body’s website showed that China had requested 60 days of consultations with Washington over the duties, which China believes are in breach with international trade rules. Full Story

It appears that Xi Jinping offers trade concessions, but it remains to be seen whether he will deliver.

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