US-China Trade Council Holds First Official Meeting

The Office of the US Trade Representative and the Department of the Treasury held the first official meeting of the US-China Trade Council with Chinese representatives. At the meeting, customs tariffs between the two countries, reciprocal reduction arrangements worth $30 billion, and agricultural trade issues were discussed. This first official meeting is regarded as an indication of the two sides' efforts to deepen trade relations and lays the groundwork for future agreements on tariffs. This is not investment advice.

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The first official meeting of the US-China Trade Council may be perceived as a signal that trade tensions between the two countries could ease. This could increase global risk appetite and have a positive short-term reflection on equity markets. Emerging markets such as Turkey may also find support from this optimism; however, if the meeting does not result in a concrete agreement, the impact may remain limited. Nonetheless, a slightly positive effect on overall market sentiment is expected.

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