Slide 1

Citi
By October 4, 2019 09:40

Slide 1

China has re-started purchase of US agricultural products including soybean and pork with tariff exemption, and the US delayed tariffs scheduled on Oct 1st by two weeks as a gesture of goodwill. These developments indicate that both sides are taking a step back and trying to create favorable environment for high-level trade talks in early Oct. We see higher chance of further tariff truce with delay of future scheduled tariffs. • Market stability is likely seen as top priority heading into major political events including celebration of 70th anniversary of the PRC on October 1st, CCP’s 4th Plenum in October, and highlevel US-China trade talks early October. 

Citi
By October 4, 2019 09:40

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