US-China ceasefire off to a rocky start - but we still look for a deal in 2019
The US-China trade deficit at a new high in October as China cuts imports
China PMI surprised to the upside but we see more downside in coming months
A rollercoaster week as ceasefire trade talks kick off
I use most of the space for trade this week as so many things have happened - and it is by far the most important thing for China right now . The first week of the ceasefire got off to a rocky start to say the least . On Tuesday, in a storm of trade tweets, Trump spooked markets with one tweet in particular about being a 'Tariff Man'. However, on a more positive note, he also highlighted how farmers would benefit and that Chinese car tariff rates would come down. Moreover, he tweeted he believed a deal would be reached.
The news that really shook markets was the arrest of Huawei's CFO Sabrina Meng , who is also the daughter of Huawei's founder, Ren Zhengfei, and vice-chairman of the company. She was arrested in Canada for extradition to the US on claims of violating sanctions on Iran, see the SCMP . She will appear at a bail hearing on Friday morning in Canada. For more on the importance of the company Huawei, see CNN and Reuters .
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