To anyone expecting a major breakthrough at the June 28-29 Osaka G-20 meeting, Wilbur Ross has a simple message: "Don't."
Speaking to the WSJ, US Commerce Secretary Wilbur Ross sharply played down prospects of a "major" trade deal if President Trump and China’s President Xi Jinping meet at the Group of 20 summit in Japan later this month (which they very well may not as Xi has yet to commit to a meeting which would show him at a power disadvantage to Trump), but nonetheless he said he believes the two sides will ultimately get back to negotiations.
"I think the most that will come out of the G-20 might be an agreement to actively resume talks,” Ross said in a phone interview Sunday. “At the presidential level they’re not going to talk about the details of how do you enforce a trade agreement."
So what is the best case scenario? Well: a return to square one, such diplomatic relations are now well in negative territory: “The most that might come is new ground rules for discussion and some sort of schedule for when detailed technical talks might resume,” said Mr. Ross.
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