So far this week, the FT, Bloomberg, WSJ and now the NYT have all published anonymously sourced scoops about the trade negotiations that have helped keep the narrative of optimism alive while talks continued in Washington.
And with their latest leak to the NYT, it appears the White House utilized a familiar trick by telling the paper that President Trump is planning to announce a summit with President Xi (though no timeline was given). The report hit as he was meeting with Chinese Vice Premier Liu He.
Chain of “trade talk optimism”
FT -> Bloomberg -> WSJ -> NYT
— zerohedge (@zerohedge) April 4, 2019
The headline sent stocks sailing higher into the close of a session where the S&P and Nasdaq lagged the Dow.
Earlier in the day, the White House denied reports that Trump and Liu were planning to announce plans for the summit, which Xi has reportedly been “wary” of agreeing to until a deal has essentially been finalized.
- NYT: TRUMP PLANS TO ANNOUNCE A SUMMIT MEETING WITH PRESIDENT XI JINPING OF CHINA TO RESOLVE TARIFF ISSUES AND FINALIZE A TRADE AGREEMENT
During an afternoon press conference, Trump said that he’d only accept a “great” trade deal. As is typically with these leaks, whether the two sides have made any progress on the big stumbling blocks – like the timing of lifting tariffs – remains unclear.
via ZeroHedge News https://ift.tt/2uJV73U Tyler Durden