The third round of trade talks between China and the U.S. has concluded (around 23:40 Beijing time on Tuesday), and investors need to note a few points.
First, the essence of this meeting is a 'renewal-type' negotiation, not a 'contract-type' negotiation — that is to say, whether the 'trade truce' will continue to be extended, but there is no clear answer on this point.
Second, there is no joint statement; each side held its own press conference.
The Chinese side's press conference seems to summarize the talks, while the U.S. side's press conference addresses specific issues. There is very little 'repeated' content in the statements from both sides, and one word both sides agree on is 'constructive.'
First, let's look at the Chinese side's statement (summarizing phased results, maintaining a calm attitude, advocating for continued communication):
Three words characterize this meeting: 'in-depth, candid, and constructive';
The Chinese and U.S. sides conducted comprehensive and in-depth exchanges on each other's macroeconomic policies, reviewed the consensus from the Geneva trade talks and the implementation of the London framework, and gave full affirmation. The economic teams of both sides will continue to maintain close communication, exchange updates on economic and trade issues in a timely manner, and continue to promote the stable and healthy development of bilateral economic and trade relations.
Now let's look at the U.S. side's statement:
U.S. Treasury Secretary Mnuchin stated that the overall tone of talks with China is 'very constructive', but we have not signed yet. We do not want to decouple from China, but rather want to reduce risks. He expressed concern over China's purchase of Iranian and Russian oil. Negotiations on trade issues with China may happen again within 90 days.
U.S. Trade Representative Lighthizer stated that no agreement has been reached with China on export controls. He hopes to ensure a continuous supply of key materials such as magnets so that both sides can focus on other priorities. 'We don't want to talk about magnets anymore,' he said.
White House National Economic Council Director Kudlow stated that Trump will see the final details of the talks with China tomorrow, and it is expected that Trump will be very satisfied with the talks with China.
The U.S. delegation will report to Trump on Wednesday. They stated that one option Trump could approve is to extend the tariff suspension period by another three months.
Third, from Trump's statements, he may 'add drama' by announcing the extension decision at a very dramatic moment.
Trump stated that his trade team had good talks with the Chinese side, but he has not yet decided whether to extend the deadline. 'They will report to me tomorrow.' When asked about the truce on tariffs with China, Trump said, 'We will either approve it or not approve it.'
Fourth, the market's performance expressed a cautious side, with all three major U.S. stock indexes declining. Although the main reason is that Trump shortened the ultimatum to Russia, U.S. stocks fell further after news of the China-U.S. talks emerged.#币安Alpha上新 $BTC $ETH 
