Investors will face many key events this week. For the Federal Reserve, FOMC minutes and a number of Federal Reserve officials will make speeches. In addition, investors will focus this week on the latest developments in Sino-US trade negotiations. In addition, investors need to be concerned about the further reaction of financial markets after Trump declared a state of emergency.
Trump said that the Sino-US trade negotiations have made great progress.
"Trade negotiators have just returned from China and the negotiations have been very fruitful," Trump wrote on Twitter on Saturday. At present, I am meeting at Haihu Manor to give a detailed introduction.
Last Friday, as market hopes for an agreement between China and the United States grew, the U.S. stock market rose sharply and rose strongly on the weekly line.
Bloomberg reported that before Trump's meeting with the negotiating team last Saturday, both China and the United States signalled that they might reach an agreement or extend the talks to end the trade war.
White House spokesman Saunders listed 10 officials thought to have participated in last Saturday's meeting. Participants included U.S. Trade Representative Letter Heyzer, Treasury Secretary Mnuchin, Commerce Secretary Ross, White House Trade Adviser Navarro, White House National Economic Commission Director Kudrow and other officials.
Trump also posted a tweet on Sino-US trade on Sunday: "Today I will hold important meetings and telephone discussions with my staff on China's trade agreement, and more. Great progress has been made in many different areas!"
At present, China and the United States are trying to reach a trade agreement by the deadline of early March. If no agreement can be reached at that time, the United States may impose additional
tariffs on Chinese goods.
According to foreign media reports, US President Trump is considering putting off the deadline for 60 days in order to give negotiators more time to reach an agreement.
From February 14 to 15, Liu He, a member of the Political Bureau of the CPC Central Committee, Vice Premier of the State Council and Chinese leader of the Sino-US Comprehensive Economic Dialogue, held the sixth round of high-level Sino-US economic and trade consultation in Beijing with U.S. Trade Representative Lethizer and Finance Minister Mnuchin.
Reported that the two sides earnestly implemented the consensus reached at the Argentine meeting of the two heads of state, and exchanged in-depth on issues of common concern such as technology transfer, intellectual property protection, non-tariff barriers, services, agriculture, trade balance, implementation mechanism and other issues of concern to China.
The two sides reached consensus in principle on major issues and held specific consultations on the bilateral memorandum of understanding on economic and trade issues. The two sides indicated that they would step up their work and try to reach an agreement according to the consultation deadline set by the two heads of state.
The two sides agreed to continue their consultations in Washington this week.
On February 15, CCTV News Client reported that on February 15, President Xi Jinping met with U.S. Trade Representative Letterheiser and Finance Minister Mnuchin, who had come to China for a new round of high-level economic and trade consultations between China and the United States, in the Great Hall of the People.
Xi Jinping pointed out: "Since December last year, the economic and trade teams of the two countries have conducted intensive and useful consultations. As for the economic and trade differences and frictions between the two sides, we are willing to adopt a cooperative approach to resolve them and promote an agreement acceptable to both sides. Of course, there are principles for cooperation. Over the past two days, the world's focus has been on Beijing. The consultation between the two teams has made important progress. Next week, the two sides will also meet in Washington. I hope you will continue to work hard to reach a mutually beneficial and win-win agreement.
On Friday evening, Beijing time, the White House issued a written statement after the Sino-US negotiations, saying: "The two sides will continue to deal with all outstanding issues on March 1, 2019, before the deadline for the 10% tariff increase on certain imported Chinese goods."
"Detailed and in-depth discussions have led to progress between the two sides. During the talks, the U.S. delegation focused on structural issues, including compulsory technology transfer, intellectual property rights, cyber theft, agriculture, services, non-tariff barriers and currencies. Much remains to be done," the White House said in a statement.
The White House also confirmed in its statement that China and the United States will hold ministerial and vice-ministerial consultations in Washington this week.
According to Bloomberg, Trump said at the White House last Friday: "If we can reach an agreement, I will be honored to withdraw these tariffs."
Trump reiterated on Friday that he was open to extending the deadline for tariff increases on March 1 if the two sides were close to reaching an agreement.
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