During a meeting between Donald Trump and the president of China, Xi Jinping, the American president was able to sign contracts worth more than 250 billion dollars. In addition, the Chinese company has signed an agreement with Boeing to purchase 300 aircrafts worth 37 billion USD. However, Trump failed to reach an agreement with China on joint locking and sanctions against North Korea. US banks have the right to unilaterally block and to impose sanctions on Chinese financial institutions trading with Kim Jong-un's regime.
Furthermore, yesterday the new tax reform proposal was released, with the only change that the Senate should approve the new tax not in 2018, but a year later, in 2019. That does not really agree with the American president, who seeks to cause a sharp change in the economy. These news weakened the position of the reserve currency, and at the moment the main pair has retreated from the recent highs. Stock indices also stopped growing and Dow Jones lost more than 100 points.
Today Donald Trump comes to Vietnam for a summit on economic cooperation, where he will deliver a speech on the American vision of the region. It is possible to strengthen US trade relations with the region.
