The world is waiting for the outcome of key talks at the G20 Summit in Buenos Aires in Argentina. Primarily investors around the world are waiting for the outcome of the Trump – Xi Jinping talk in the hope that there will be some positive outcome to the trade wars that have placed markets around the world in a state of perpetual fear since they began.
There is a chance that tariffs will be reduced (small), a chance they will be increased (small) or a big chance there will be no change, there is even a small chance of a new Cold War breaking out but I don’t think that is at all likely anymore. Usually at these summits it’s more important what goes on behind the scenes with the advisors and delegates, but Trump is very independent and doesn’t always follow advice and Trump makes deals on his own terms, so this meeting could be crucial. It could also be just a rosey photo opportunity with no substance. We are all waiting.