Current: China with new charm offensive towards Trump

Just now, the “Oracle from Beijing”, the chief editor of the “Global Times” Hu Xijin, has announced the purchase of U.S. agricultural products as China’s goodwill action. Beijing also wants to buy pork and – even more important for US farmers – soybeans from the USA and exempt both product categories from the tariff increase! Hu Xijin announces this again with the sentence “Based on what I know” – so far the official confirmation by China’s government came a little later!

The fact that Trump has now become more conciliatory towards China should not be a coincidence. The US economy is weakening. The US fears a recession. And that could cost Trump his re-election – and would be a massive blow to the ego of the egomaniac! Yesterday the US president said that he could consider making a partial deal, but he would prefer to make a full deal. That sounds very much like a setback in the trade war, because Trump’s biggest trump against China – the strength of the US economy – has obviously slipped out of hand…

After Hu Xijin’s tweet, the US futures jumped briefly to the top, but came back a little later – after 7325 hopeful rallies felt due to optimistic tones from China or the USA, even the Algos now seem to be slowly assuming that a deal or a ceasefire could already be priced in somehow.

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