Trump, Xi have 100 days to avert US-China trade war

Economic growth

SHARE THIS STORY

War of Words Apr17Last week’s summit meeting between US President Donald Trump and China’s President Xi Jinping was initially overshadowed by Friday’s news of US missile strikes on Syria.  But from the details since released, it is clear the summit will likely have far-reaching impact on the global economy.  As US Commerce Secretary Wilbur Ross revealed afterwards, the 2 leaders agreed to implement:

“A 100-day plan with way-stations of accomplishment.  We made very clear that our primary objectives are twofold:

   One is to reduce the trade deficit quite noticeably between the United States and China
   The second is to increase total trade between the two countries

Ominously, he added, “Words are easy, discussions are easy, endless meetings are easy. What’s hard is tangible results, and if we don’t get some tangible results within the first 100 days, I think we’ll have to re-examine whether it’s worthwhile continuing them.”

Ross has set a tough target to be met with 100 days (18 July), especially given the range of major issues involved, including N Korea.

This is why ICIS and International eChem have combined their expertise to produce a new Report, The War of Words, focused on the implications of any deal – or lack of any deal – on the global petrochemicals industry.  The Report highlights how a “business-as-usual scenario” is the least likely outcome for the years ahead.  As my co-author, John Richardson of ICIS highlights:

“Our aim is to provide a clear understanding of the tectonic shifts now under way in the world’s two largest economies, and to offer a detailed road map outlining the potential impact of these developments on business and investments.”

The Report provides companies and investors with the insight and analysis needed to prepare for almost inevitable change to today’s business models.  It highlights how today’s globalised world – whereby raw materials are routinely shipped half-way around the world, and then returned as finished product – is most unlikely to survive for much longer.

The “War of Words” Report is the first in a quarterly series of “Uncertainty Studies“.  It provides a clear understanding of the tectonic shifts now under way in the world’s two largest economies, and a detailed road map highlighting the likely impact of these developments on business and investments. It is essential support for decision-makers.

Please click here for subscription details, or contact me directly at phodges@iec.eu.com

PREVIOUS POST

US GDP growth stalls with participation rates near all-time low

10/04/2017

Last week’s summit meeting between US President Donald Trump and ChinaR...

Learn more
NEXT POST

China's lending bubble sees Beijing home prices jump 63%

17/04/2017

Last week’s summit meeting between US President Donald Trump and ChinaR...

Learn more
More posts
US-China trade war confirms political risk is now a key factor for companies and the economy
12/05/2019

There are few real surprises in life, and President Trump’s decision to launch a full-scale tr...

Read
Uber’s $91bn IPO marks the top for today’s debt-fuelled stock markets
28/04/2019

Uber’s IPO next month is set to effectively “ring the bell” at the top of the post...

Read
The End of “Business as Usual”
21/04/2019

In my interview for Real Vision earlier this month, (where the world’s most successful invest...

Read
Most businesses were nowhere near Ready for Brexit last Friday – we mustn’t make the same mistake again
14/04/2019

Thank goodness for backbench MPs and the European Union. Without their efforts, the UK would by now ...

Read
Don’t get carried away by Beijing’s stimulus
07/04/2019

Residential construction work in Qingdao, China. Government stimulus is unlikely to deliver the econ...

Read
Businesses thrilled by Brexit uncertainty: “It’s exhilarating” says small business owner
01/04/2019

With the European Commission saying that a No Deal is now “likely“, small businesses acr...

Read
Ageing Perennials set to negate central bank stimulus as recession approaches
10/03/2019

The world’s best leading indicator for the global economy is still firmly signalling recession...

Read
BASF prepares its UK supply chain for Brexit
24/02/2019

BASF has been working with Ready for Brexit (the online platform I co-founded last year) as part of ...

Read

Market Intelligence

ICIS provides market intelligence that help businesses in the energy, petrochemical and fertilizer industries.

Learn more

Analytics

Across the globe, ICIS consultants provide detailed analysis and forecasting for the petrochemical, energy and fertilizer markets.

Learn more

Specialist Services

Find out more about how our specialist consulting services, events, conferences and training courses can help your teams.

Learn more

ICIS Insight

From our news service to our thought-leadership content, ICIS experts bring you the latest news and insight, when you need it.

Learn more