New York (Reuters) -US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer said on Sunday that they had entered into an agreement with China to reduce the American trade deficit, describing “substantial progress” in high challenges with Chinese officials but offering no details as two days of negotiations concluded in Geneva.
Christopher Hodge, chief economist, United States, Natixis, New York
“A de -escalation has been inevitable and I think it is clear that there will not be much sustainable that leaves these talks. Perhaps a drop in prices and a purchase agreement for certain agricultural products, as is the phase an agreement. American growth. “”
Jack Ablin, founding partner and investment director, Cresset Capital, Chicago
“These are obviously the headlines, we will hear more tomorrow. I am not sure that I would press the” Buy “button what we heard today, but if we can make substantial progress with China, I think the market will love it.”
“For me, this news is slightly better than expectations. I think most of us at the end of last week have thought that there would be progress.”
“I did not expect a conclusion to the talks simply because the entire portfolio of goods and services is so wide. … But it seems that we will withdraw a trade war with China out of the table.”
Eric Kuby, Director of Investments, North Star Investment Management Corp., Chicago:
“This is a step in the right direction, showing that the two parties are interested in arriving at a constructive conclusion and developing a better commercial relationship. The details are quite summary, but I think that management seems to be more cooperative rather than combative, and I think that we must consider this as positive.
“There was a variety of possible results of this weekend meetings, going on both sides by leaving and pointing the finger on the other side to announce that the additional rates were removed from the table. What we got here was something more in the middle, but more towards the positive side. I therefore think that it is a step in the right direction. It is not likely to get a dramatic market, but it is create sales pressure. “
Gennadiy Goldberg, manager of American prices, TD Securities, New York:
