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Doubt Over Resolution of Trade Conflict with China


Steve Schwarzman, founder of Blackstone is pessimistic over a resolution of the ongoing trade conflict with China. In an interview on CNBC, Schwarzman noted “I think that it is extremely improbable for a deal because there has been almost nothing happening since May when the discussions ended”.

During the past year, Beijing has lowered duties on imported goods from nations other than the U.S. A CNBC commentator affiliated to the Peterson Institute for International Economics opined “Americans are likely suffering more than President Trump thinks as a result of the trade war”.

President Trump and Premier Xi are due to meet at the G20 Summit in Osaka, Japan this week.