The leaders of both countries plan to meet in South Korea, but their financial teams have a bilateral agenda in Malaysia.
While waiting for a meeting between Xi Jinping and Donald Trump in South KoreaAmerican suspicions about the Asian giant are growing and a trade investigation was launched that could lead to the application of new tariff rates to China. The consequences of the tension were already felt during the week in Wall Street.
Between October 24 and until the 27th, officials from both countries maintain trade rounds in Kuala Lumpur, capital of Malaysiaon the eve of meeting between the two presidents in South Korea, next October 30. Although the meetings between the financial and diplomatic teams of the two powers showed signs of understanding, a new North American advance provoked international attention.
This is an advertisement Jamieson Greer, United States Trade Representative, who launched an investigation to Decide whether China complied with a limited trade agreement reached in 2020 during Trump’s first term. The agreement consisted of Chinese promises to increase the purchase of American agricultural products and, if not fulfilled, could determine tariff sanctions, protected by the North American Trade Act.
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Consequences on Wall Street
The three indices of New York Stock Exchange Reference They fell this Wednesday, weighed down by the new concerns about the trade war between the US and China.
In this context, the Dow Jones Industrial Average fell 0.71% to 46,590.41 points; The S&P500 lost 0.52% to 6,700.48 points and the Nasdaq Composite depreciated 0.93% to 22,740.40 points.
Concerns about a new setback in US-China trade returned after a Reuters report, which suggested that the Trump administration considers banning Chinese exports made with US software. The news increased doubts about whether the long-awaited meeting between US President Donald Trump and his Chinese counterpart, Xi Jinping, in South Korea will take place later this month.
Source: Ambito
