Are they not killing any leverage they have?

Ross is doing the regular song and dance about progress on a Phase One deal but I have to start wondering if there's some risk here.

If I'm China, I'm not offering anything extra to get this over the line. By repeating this over and over, the US boxes itself into making a deal this month. Sure, Trump is always a wildcard and could spin a breakdown but markets wouldn't like it.

The reality is that everything major is probably agreed so this is a non-factor but you never know what's hidden in the details. With the deal 99% priced into markets, it's a one-way downside risk at this point.

Other comments from Ross:

  • Trump administration is extremely engaged and fully committed to south Asian region
  • US will continue to negotiate free trade agreements in region
  • ASEAN is number one US investment destination in Indo-Pacific