Securities on Asian markets rallied today, encouraging later-opening European markets, buoyed by Saturday’s meeting between Chinese President Xi Jinping and President Trump at the G-20 summit in Japan, where they agreed to restart trade talks. Trump said he’d delay higher tariffs on $300 billion in Chinese goods, as well as lift some restrictions on Chinese phonemaker Huawei. Xi said China would buy more U.S. farm products.
What difficulties do negotiators face? Hard-liners on both sides are likely to present obstacles: Americans want China’s markets opened, while Chinese officials are reluctant to dismantle state economic controls.
OZY’s Donald Dossier looks at the impact of resuming trade talks.