Fitch: Trump’s ‘small concession’ doesn’t mean the trade war with China is ending

On CNBC’s “Squawk Box”, James McCormack, Fitch’s Global Head of Sovereign Ratings, responded to the US-China goodwill trade gesture, by saying that de-escalation in tensions between the two countries is welcomed, it’s still difficult to see both sides reaching any “real resolution” anytime soon.

Key Quotes:

Things change very quickly, it’s hard to know what motivation there is — to be honest — on the U.S. side.

So, I wouldn’t want to read too much into a small concession suggesting that we’re on the road to this being resolved.

I think there’s a couple more chapters yet to be written in the trade war.

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