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All is quiet on the American front as the week comes to a close, even as Korea JoongAng Daily reports that a high-ranking Chinese trade official from the Ministry of Finance was spotted at the U.S. Treasury Department headquarters in Washington, D.C. earlier today. The meeting between Chinese and U.S. officials comes on the eve of a trade war shock now ripping across the Pacific, with the Port of Los Angeles set to be the first hit. High-frequency data suggests the impact will begin at some point next week and intensify with each passing week.
On the eve of a trade war shock, data from Port Optimizer—a tracking system used by vessel operators—shows that scheduled import volumes into the Port of Los Angeles are set to begin plunging next week and could collapse by mid-month.
https://www.zerohedge.com/markets/all-quiet-american-front-trade-war-shock
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