6/3/2019, 11:05 AM (Source: TeleTrader)
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China-US trade deal at G20 unlikely - analysts

A trade deal between China and the United States is unlikely to be made at the G20 summit in Japan later this month, CNBC quoted analysts as saying on Monday.

The media outlet quoted experts from JPMorgan Chase & Co. and Morgan Stanley as saying that they did not expect a deal to be signed in the near future. JPMorgan's James Sullivan said it was "very difficult to see a deal on a short-term basis" due to the US administration's "very, very hawkish tone." His sentiment was echoed by Morgan Stanley's Jonathan Garner, who said that it was currently "looking more likely no deal than deal." He added that the cost of the trade war could be felt by both countries soon if tensions took a turn for the worse and projected that they would have to change their monetary policies in response.

The news comes after fellow banking giant Goldman Sachs predicted earlier in the day that the trade disputes between the US, China and Mexico would escalate. It also said that it did not expect any trade deals to be made until the end of this year or the beginning of next year.

Breaking the News / DZ