Here we go again, getting pumped on hopes that will hardly materialize. I mean, just because Treasury Secretary Steven Mnuchin said “we were about 90% of the way there (with a deal) and I think there’s a path to complete this”, sentiment in Wall Street turned bullish, even if that is the same kind of talk we have heard before since the trade war began, almost, almost, but never really there in the end.
Time will tell; however, Trump hasn’t changed is rhetoric either, “It’s possible that we’ll make a deal but I’m also very happy where we are now.”, at the same time as he keeps saying China wants a deal, more than he does. The truth is negotiations have stalled and there hasn’t been a single change from China since the last the “breakup”, so unless there is a radical move by either side, the G20 meeting won’t be the pivotal moment in this topic.
Photo by Christie Kim.
