Xi-Trump meeting a success, depending on your perspective
Saturday's meeting between Trump and Xi was a moderate success and markets are likely to view it that way. The US agreed not to impose planned 25% tariffs on Jan 1 or any other trade measures for 90 days.
That was about the best that markets could have reasonably hoped for.
China's strategy is to run out the clock on the Trump presidency and this buys them another three months at the expense of pledging to buy US agricultural and industrial products in an effort to narrow the trade deficit.
Beyond that, the messages from the US and Chinese statements varied wildly at times.
Bloomberg has a great graphic illustrating how the messages differ.
