According to the US as well as China, there has been plenty of progress made in the trade talks aimed at ending the trade war initiated by the US. Several reports suggested that both leaders may meet this month in order to officially end the trade war, but at least three officials with knowledge of talks have now come forward and stated that there won’t be any such meeting in March. President Trump and Xi may meet at Trump’s Mar-a-Lago golf resort, if they meet at all.

As this past weekend’s G-20 summit concluded in Argentina, market participants were largely focused on the dinner between US President Trump and Chinese President Xi. The sideline show stole the spotlight which meant that something would be announced in an attempt to please the markets and shows that positive progress has been made in the trade war the US started with China. As expected Trump hailed progress and his negotiating tactics while US Treasury Secretary Steven Mnuchin stated that 142 items have been discussed between both leaders.

While some analysts remain hopeful that a sideline meeting between US President Trump and Chinese President Xi at the G-20 meeting in Buenos Aires will yield a truce in the trade war, it appears rather unlikely. The Wall Street Journal published an interview with Trump on Monday where he stated that he is very likely to move ahead with an increase in China tariffs on $200 billion worth of goods from the current 10% to 25%. This would mean that $250 billion worth of Chinese goods will be taxed by 25%.