From Fred Imbert:
- Liu has been named a “special envoy” to Chinese President Xi Jinping, meaning he has the authority to negotiate directly on trade matters with the U.S.
- The meeting between Liu and Trump comes as the two countries try to strike a trade deal before the start of next month.
President Donald Trump is scheduled to meet with Chinese Vice Premier Liu He on Friday as China and the U.S. end another week of trade talks.
Liu has been named special envoy to Chinese President Xi Jinping, meaning he has the authority to negotiate directly on trade matters with the U.S.
The Wall Street Journal reported that the White House is counting on getting China to accept key structural changes on issues such as improper subsidies to state-owned companies and unlawful technology transfers. Reuters reported that U.S. and Chinese officials are struggling to come up with language that will address some of these issues.
The meeting between Liu and Trump comes as the countries try to strike a trade deal before March 2. If they don’t, additional U.S. tariffs on Chinese goods could come into effect. However, Trump said earlier this week that the deadline was not a “magical date,” hinting it could be moved.
The IShares China Large-Cap ETF (FXI) was trading at $44.02 per share on Friday afternoon, up $0.62 (+1.43%). Year-to-date, FXI has declined -4.66%, versus a 4.70% rise in the benchmark S&P 500 index during the same period.
This article is brought to you courtesy of CNBC.