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Andrew here. Will we get a trade deal this week between the U.S. and China? That’s the current thinking based on optimistic comments from U.S. officials before a possible meeting between President Trump and President Xi Jinping of China. We’ve got the details below.
We’re also going deep on the election in Argentina, and the larger implications for U.S. foreign policy. And make sure to take a look at our regular “Global View” feature, which takes the pulse of how international news outlets are reporting and analyzing the biggest headlines.
A deals spree
Global stocks, cryptocurrencies and oil are rallying on Monday as investors cheer a potential breakthrough in U.S.-China trade talks, as well as a slew of other potential deals that together signal a major easing of trade war tensions.
American and Chinese officials hailed the progress this weekend in reaching a framework agreement that appears to cover a number of contentious issues, including Beijing’s export curbs on rare earth metals, shipping taxes and fentanyl. There was also progress on TikTok.
Treasury Secretary Scott Bessent said that China had also committed to again step up purchases of U.S. soybeans, a pullback this year that had rattled American farmers.
Investors have heard upbeat comments on trade talks before, only for new trade war threats to emerge from both Washington and Beijing. But this time, President Trump and President Xi Jinping of China are expected to meet on Thursday on the sidelines of the Asia-Pacific Economic Cooperation summit in South Korea, and there are high hopes that the two could sign a more lasting accord.
