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Analysts at Danske Bank note that the White House Adviser Kellyanne Conway told Fox News yesterday that it ‘absolutely’ looked like a deal to end the trade war was close and that  Trump ‘wants to meet with Xi Jinping very soon’.  

Key Quotes

“In another sign that Trump is eager to close a deal, she said that ‘this president wants a deal’. Chinese stocks rose further overnight and are now trading at the highest level since October.”

More US-China trade talks were initiated yesterday in Beijing  at a lower level before high level talks resume on Thursday and Friday. With regard to the question on whether the 1 March ceasefire deadline would be extended, US trade negotiator David Malpass answered ‘no’. However, our view is still that if more time is needed to finalise a detailed trade document, the deadline will be extended.”