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Need to Know: Watch out for December ‘risk liquidation’ if Trump/Xi meeting disappoints

A volatile year of trading could be coming to a head this weekend.

Much seems to be riding on the meeting of the year, between President Trump and his Chinese counterpart Xi Jinping in Buenos Aires on Saturday. On the way to his plane Thursday, POTUS said a deal was close, but “I don’t know that I want to do it.”

Ahead of that, Goldman Sach sees three possible outcomes from the weekend: 1) most likely—path of “escalation” continues with tariffs on China rising to 25%, extended to remaining imports; 2) a pause, with existing tariffs in place, but two sides keep talking, escalation on hold; and 3) complete rollback of current tariffs, which Andrew Tilton and the team at Goldman see as “unlikely.

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