FAST FIVE: Stocks Slide After Trump, Xi Fail To Deliver Trade Deal Progress
Following a closed door meeting with reporters with Vice Premier Liu He at his side, Trump confirmed that he and Xi would likely meet in the near future to hammer out the final details of the deal, and that maybe they would strike a deal…and maybe not.
In a letter sent from Xi to Trump that was cited at the press conference, Xi praised the “significant progress” made during talks so far and said he hoped that both sides could meet one another “half way.” Stocks dropped on the headlines as both sides sounded non-commital about a deal.
Traders also appeared frustrated by the lack of details.
TRUMP SAYS HE AND XI WILL PERHAPS WORK OUT THE FINAL POINTS AND PERHAPS NOT TRUMP SAYS HE EXPECTS MEETING WITH XI IN NOT TOO DISTANT FUTURE TRUMP SAYS HE AND CHINA'S XI WILL ULTIMATELY MAKE THE BIGGEST DECISIONS ON TRADE XI SAYS, IN LETTER TO TRUMP READ ALOUD IN OVAL OFFICE, THAT NEGOTIATORS HAVE MADE SIGNIFICANT PROGRESS XI SAYS HE HOPES THE TWO SIDES WILL REDOUBLE EFFORTS TO MEET EACH OTHER HALF WAY TRUMP SAYS US AND CHINA ARE HAVING VERY GOOD TALKS ON TRADE Trump is expected to speak publicly at a Black History Month event after his meeting with reporters.
This after the administration insisted after the trade truce had been struck that March 1 would be a “hard” deadline.