GREER SAYS WE'LL DISCUSS IT WITH CHINA NEXT WEEK

Trade Representative Jamieson Greer said the United States will discuss an unspecified issue with China next week, with the headline offering no detail on the subject, scope, or counterparties beyond that. The transmission channel for a scheduled bilateral meeting of this kind typically runs through trade-policy risk premia: Chinese equities, the yuan, and China-sensitive sectors such as semiconductors, industrial metals, and export-oriented manufacturers tend to reprice on expectations of tariff or export-control outcomes. Chinese onshore and offshore equities and the USD/CNH pair are the most directly exposed, with copper and iron ore secondary, given their sensitivity to demand expectations tied to trade relations. Traders should watch the official readouts from both delegations and any Chinese Ministry of Commerce statement following the talks, since the specificity of those communiqués will determine whether the meeting moves positioning or proves to be procedural.

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