Daily Forex Outlook May 3, 2018

stocks and shares

A US delegation led by Treasury Secretary Steven Mnuchin arrived in Beijing on Thursday for talks with senior Chinese leaders in an effort to calm the worst friction over the trade imbalance between the world's two largest economies. Prospects for a breakthrough initially appear uncertain given the escalating rivalry over intellectual property and technology issues underlying the dispute. Indeed, China has indicated its unwillingness to back down on key issues or submit to US threats. The Chinese government will not accept any US preconditions for negotiations, such as abandoning its long-term advanced manufacturing ambitions or narrowing the trade gap by $100 billion, a senior Asian government official said Wednesday night. The talks will take place today and tomorrow; analysts are not optimistic about the possible outcomes.

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