Current: US-China deal 90% completed – according to US Treasury Secretary Mnuchin

US Treasury Secretary Steve Mnuchin has just said in an interview with US financial channel CNBC that the deal between the US and China is 90% complete. He hopes that there will be a deal – but he will not speculate about when it will happen!

All this sounds like a kind of optimism – what about the supposedly remaining 10%? Is the USA prepared, as China is demanding, to abolish all tariffs and thus give up its power of pressure? Rather unlikely. It is also unlikely that the USA will withdraw its ban on Huawei, since the opposition Democrats support this ban and measures against China (unlike in the case of Mexico) in the USA are extremely consensual!

Nevertheless, the markets are pleased – how many rallies of hope have we already experienced? And still no deal. By the way: already in April there was the headline that the deal was 90% finished…

Mnuchin inauguration
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