Another day, another stalled trade deal and head fake by the Chicoms. Now the communists of Beijing won't agree to a venue for signing the so-called 'phase one' trade deal negotiated by the Trump White House. We at CD Media have written repeatedly that we don't believe China can sign a deal that is good for the United States; it will simply destroy their carefully crafted plan for Chinese global dominance.
The meeting between Trump and Xi could be delayed as the two sides still need to decide on the terms and a venue, a senior administration official told CNBC.
Markets traded sideways on the news.
Meanwhile, Chinese media are reporting that Beijing is demanding the removal of all American trade-war tariffs before agreeing to even a partial deal, a position that Washington has repeatedly rejected as a dealbreaker, reported Zero Hedge.
"The deal is not balanced yet," the person said, declining to be named because of the sensitivity of the issue.
"The US needs to give a more solid commitment to China on the tariff issue. At least the US should drop the December 15 tariffs or stop labelling China as a currency manipulator, to show dignity to China."
In economic news, Nonfarm business employee output per hour decreased at a 0.3% annualized rate in the third quarter, well below the expected rise of 0.9% and the first decline since December 2015.
Subscribe to our evening newsletter to stay informed during these challenging times!!