Kevin Rudd: It's Possible to Strike a China Trade Deal in 2019
Interview on Squawk Box
ASPI President Kevin Rudd joined Squawk Box on CNBC to discuss the recent bilateral meeting between President Donald Trump and China’s President Xi Jinping on the sidelines of the G-20 Summit.
Rudd believes it is possible for the U.S. and China to reach a trade compromise this year, stating that "between now and probably Thanksgiving, we’ll have some sort of deal.” As Trumps looks to be reelected and Xi Jinping faces China’s softening economy, “this thing has to be put to bed, otherwise, it wrecks markets completely,” says Rudd.
Rudd states that China received two unexpected “gifts” in Osaka: the announcements by Trump that there would be no new tariffs for the duration of the negotiations and his reconsideration of the listing of Huawei. Therefore, Rudd belives that “from the Chinese perspective, they’re pretty happy with the outcome.” Beijing perceives Washington as having “blinked a bit” at Osaka, and can take comfort in knowing that a deal can be made that “won’t fundamentally undermine their interests.”
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