Talk About Talks

• “Early October.” That’s when the next face-to-face talks between U.S. and Chinese officials will take place in Washington, according to the Chinese Ministry of Commerce.
• The loose plans were made in a phone call with Vice Premier Liu He, U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer.
• The latter’s office issued a cautious statement that ministerial-level talks would happen “in the coming weeks.”
• All told, it’s enough to boost market sentiment today given swirling fears over a recession.
• Don’t get giddy: President Donald Trump’s administration is still set to ratchet up levies on Oct. 1, and China’s demand to put tariff hikes on hold during negotiations was a big part of what delayed the meetings planned for this month.

(Source: Bloomberg)