Navarro says “it’s over”. Trade talks fall, again.
The never-ending drama that is the US-Sino Trade Talks continues, with the latest failure being outlined and then carefully walked by chief negotiator Peter Navarro. The long-time China critic stated, referring to the current round of trade talks, stated on a recent interview with Fox News that the talks were “over”. He later suggested to the Wall Street Journal his comments were misunderstood. Treasuries climbed, the dollar rose and crude oil dropped. Asian benchmarks gave up earlier gains. Navarro’s remarks had revived concerns about deteriorating U.S.-China ties.
Navarro, a White House adviser and died-inthe-wool opponent of China and the CCP, made the comment to Fox after an exchange with the interviewer that reviewed Trump administration complaints with China’s handling of the coronavirus. He also said that China “lied” about the virus and that China policy would be a key plank in the November presidential election. Continued uncertainty around trade talks are compounded by aggressive fiscal and monetary policy by the US, and this has seen the Chinese currency continue to fall beyond the ‘line in the sand’ value of 7.00, and approach the all-time lows set in September 2019. Read more…..
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CNBC’s Eamon Javers reports on Peter Navarro’s Fox News comments that sent stocks tumbling overnight.
White House trade advisor Peter Navarro said on Monday the trade deal with China is “over,” and he linked the breakdown in part to Washington’s anger over Beijing’s not sounding the alarm earlier about the coronavirus outbreak.