US-China trade talks to remain in focus – ING

According to Prakash Sakpal, economist at ING, the forthcoming US-China trade talks on 7th January offer some hope for the two sides to come to terms with the adverse consequences of their ongoing trade dispute.  

Key Quotes

“President Trump hailed the ‘positive progress’ on trade after his latest phone call with President Xi. Having suffered heavily from intensified uncertainty since the Trump-Xi and G-20 summit, markets will cheer if there is a further push towards a trade deal by the end of March. However, any backtracking on the imposed tariffs isn’t really something one can hope for, which means the negative medium-term impact on both economies and thereby on the rest of the world will be inevitable.”