The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing, Reuters reported.Technologyread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
The two countries want to smash the civil aerospace duopoly enjoyed by Airbus and Boeing.Aerospace & Defenseread more
Federal Reserve Chairman Jerome Powell is set to deliver his annual speech on Friday at the Jackson Hole, Wyoming symposium, where he's expected to provide more clarity on the...Asia Marketsread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
U.S. and Asian investors poured $3.7 billion into U.K. tech start-ups in the first seven months of 2019, research shows.Technologyread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately told business executives and free traders that the trade war could end by the 2020 election and that hurdles to an immediate agreement...2020 Electionsread more
With a U.S.-China trade deal at least weeks away, Chinese negotiators have suggested combining a long-discussed state visit by President Xi Jinping to the United States with the announcement of any forthcoming agreement, according to three sources briefed on discussions.
The two countries had been planning a meeting between the two leaders at President Donald Trump's private Mar-a-Lago resort in Florida to follow Xi's late-March visit to Europe, to avoid the optics of a standalone trip to announce a trade deal on U.S. soil.
But U.S. officials have suggested there are too many outstanding details to conclude negotiations by then, making a meeting in March unlikely.
"Our hope is we are in the final weeks of having an agreement," Robert Lighthizer, the Trump administration's top trade official, testified to the Senate Finance Committee on Tuesday. But Lighthizer would not commit to a positive outcome, or a resulting meeting, and said many issues remain. "If those issues are not resolved in favor of the United States, we won't have a deal."
Since the two countries brokered a temporary truce at the G-20, U.S. negotiators have been seeking commitments and concessions up front, while Chinese negotiators had sought to shelve complicated issues for the two presidents to settle in person.
But that dynamic changed, the three people briefed on the talks said, when Trump walked out on talks with Kim Jong Un in Hanoi, Vietnam, after North Korea sought an end to sanctions. Beijing now wants a deal fully locked in before its leader sits down with Trump, although Trump would still prefer to close the deal himself.
"We could have the deal completed and come and sign — or we can get the deal almost completed and negotiate some of the final points," Trump said Wednesday. "I would prefer that."
Unlike a casual retreat — such as the one the two presidents shared at Mar-a-Lago in April 2017 — the trappings of a state visit would require much more coordination: an arrival at Andrews Air Force Base, a 21-gun ceremony on the White House lawn, an overnight stay at Blair House and a formal state dinner reception with entertainment.
"A state visit requires more complicated protocol arrangements, but it can be done," said James Green, a senior fellow at Georgetown University who was a U.S. Trade Representative official at the U.S. Embassy in Beijing until 2018. "The Chinese government has consistently pushed for state visits to the United States for its top leader, so this effort for Xi Jinping is not surprising."
A state visit has been under discussion since last year, two sources said, with Chinese officials expecting Washington to reciprocate Xi's reception of Trump in Beijing in November 2017 — replete with a private dinner in the Forbidden City and a signing ceremony for a slate of bilateral deals in the Great Hall of the People.
Visits to the White House and Mar-a-Lago by Xi may not be mutually exclusive, since prior state visits have normally included multiple stops. Chinese officials have also suggested Xi visit Houston to commemorate the 40th anniversary of Deng Xiaoping's 1979 visit to Texas following the two countries' joint communique. Xi's last state visit, in September 2015, included stops in Washington, in Seattle to meet business executives, and in New York for the annual United Nations General Assembly.
It's unclear how receptive the White House has been to China's proposal — described as informal — to combine the state visit with a trade announcement. The White House and the Treasury Department did not respond to requests for comment. A spokesperson for the USTR declined to comment.
Barring a separate visit, the two leaders are also expected to meet at the G-20 summit at the end of June in Osaka, Japan.