In the post truth world, stating the obvious today makes you a veritable genius, via Micheal Every at Rabobank:
Coincidence and subsidence
Only three trade war updates today worth mentioning, all of which should leave markets brimming with optimism. First, it has been reported that China has hacked 27 US universities to try to steal maritime defence technologies. Second, Zhang Shan, China’s Commerce Minister, has described the negotiations in Washington as “very difficult and very hard…There are significant differences between the two countries systems, culture, and development stages.” Third, US Secretary of State Pompeo stated Trump will walk away, just as he did from North Korea, if the proposed US-China trade deal is not “perfect”.
