China open to talks if US shows respect, names point person

Source: Bloomberg via Yahoo Fin

(Bloomberg) — China wants to see a number of steps from President Donald Trump’s administration before it will agree to trade talks, including showing more respect by reining in disparaging remarks by members of his cabinet, according to a person familiar with the Chinese government’s thinking.

Other conditions include a more consistent US position and a willingness to address China’s concerns around American sanctions and Taiwan, said the person, who asked not to be identified to discuss internal thinking.

Beijing also wants the US to appoint a point person for talks who has the president’s support and can help prepare a deal that Trump and Chinese leader Xi Jinping can sign when they meet, the person said.
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The offshore yuan gained 0.2% against the dollar in the wake of the report. The Australian dollar, a China-proxy currency, also advanced 0.5%. S&P 500 Index futures pared losses to 0.4% from as much as 1.6% earlier in the session.

Read more: https://finance.yahoo.com/news/china-open-talks-us-shows-085205469.html