Jul 26, 2018

China welcomes U.S.-EU trade truce

EU commission president Juncker and Chinese premier Li Keqiang at a summit earlier this month. Photo: Ng Han Guan/AFP/Getty Images

Chinese leaders are pleased President Trump and European Commission President Jean-Claude Juncker reached a deal to avoid a deeper trade war, at least for now, but say no progress has been made for a similar U.S.-China deal, Caixin Global reports.

What they're saying: “It is certainly a good thing to not fight a trade war, not only for the U.S. and Europe, but also for the whole world,” Ministry of Commerce Spokesman Gao Feng said today. “We will keep an eye on whether the two sides’ joint statement can get implemented.” Gao added that in order to begin talks with the U.S. to resolve the trade standoff, China would need "an assurance that the other side will keep its promises — a reference to Washington’s levying of protective tariffs last month after previously promising not to do so," per Caixin's report.

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Democrats demand new Russia sanctions over 2020 election interference

Putin and Trump. Photo: Kremlin Press Office / Handout/Anadolu Agency/Getty Images

Senate Democratic leaders sent a letter to Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin on Monday afternoon demanding they sanction Russia — and potentially Russian President Vladimir Putin himself — for attempting to influence the 2020 presidential election.

Why it matters: The letter follows reports that a senior intelligence official briefed Congress that Russia is again interfering in the November election to help Trump. White House national security adviser Robert O'Brien repeatedly rejected that assessment on Sunday, and CNN later reported that the briefer may have overstated the intelligence community's evidence about Russia's goals.

Private equity returns fell behind stocks over the past decade

Illustration: Aïda Amer/Axios

U.S. private equity returns fell just below S&P 500 returns for the 10-year period ending last June, according to a report released Monday morning by Bain & Company.

Why it matters: Private equity markets itself as beating public markets over long-term time horizons, and usually providing an illiquidity premium to boot. These new performance figures not only dent such claims, but provide fresh ammunition to critics of public pension investment in private equity funds.