Jan 26, 2019

Chinese vice premier heads to D.C. for next round of trade talks

Photo: Andrea Verdelli/Getty Images

The next important episode in U.S.-China talks will be Politburo member and Vice Premier Liu He's visit to D.C. next week.

The big picture: Liu may be bringing an offer of more significant structural concessions but do not expect major breakthroughs next week. The deadline for this round of talks is March 1 and it would be surprising if the Chinese side put its best offer on the table so far from that date.

Yes, but: China runs the risks of offering too little again, so the pressure is on Liu and his team to at least show the U.S. side they are sincere, because if Liu leaves D.C. and the word out of the talks is the two sides are still far apart, the markets may get nervous.

My thought bubble: Chill out ... this will continue to be a grind, but I still believe Xi is very motivated to make a deal. The trade war is one more risk he does not want right now.

  • More importantly I hear he is very concerned about the push from some U.S. officials toward "decoupling" and so views a deal as a way to blunt those forces even as the U.S.-China competition heats up across multiple dimensions.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 786,291 — Total deaths: 37,820 — Total recoveries: 166,088.
  2. U.S.: Leads the world in confirmed cases. Total confirmed cases as of 3 a.m. ET: 164,620 — Total deaths: 3,170— Total recoveries: 5,943.
  3. Federal government latest: The White House will extend its social distancing guidelines until April 30.
  4. State updates: Rural-state governors say testing is still inadequate, contradicting Trump — Virginia, Maryland and D.C. issue stay-at-home orders to residents, joining 28 other states.
  5. Business latest: Ford and General Electric aim to make 50,000 ventilators in 100 days.
  6. In photos: Navy hospital ship arrives in Manhattan.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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World coronavirus updates: World Bank warns economic pain unavoidable

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

The novel coronavirus has caused a "global shock" and significant economic pain "seems unavoidable in all countries," the World Bank said in an economic update for
East Asia and the Pacific on Monday.

The big picture: COVID-19 cases surged past 786,000 and the death toll exceeded 37,800 early Tuesday, per Johns Hopkins data. Italy reported more than 11,500 deaths.

Go deeperArrowUpdated 1 hour ago - Health

U.S. coronavirus updates: Death toll tops 3,000

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

The U.S. death toll from the novel coronavirus surpassed 3,000 late Monday.

The state of play: There were more than 164,000 confirmed cases in the U.S. early Tuesday — more than any other country in the world, per Johns Hopkins data. The COVID-19 death toll stood at 3,170. The number of recoveries had risen to more than 5,900.

Go deeperArrowUpdated 6 hours ago - Health