A U.S.-China trade deal is highly unlikely and there is “no way” Huawei will be allowed to sell into the U.S. market, a Republican Senator told CNBC Tuesday.
Markets rallied Monday after U.S. President Donald Trump and Chinese President Xi Jinping agreed to hold off on the imposition of any fresh tariffs on each other’s products, following a meeting at the Group of Twenty (G-20) summit in Osaka over the weekend.
Trump also softened his stance on Chinese telecommunications giant Huawei, indicating that U.S. tech companies can go back to selling components and software to Huawei. Shares of chipmakers on both sides of the Atlantic rose sharply Monday morning on the news.
Trump then told reporters in the Oval Office on Monday that trade negotiations, which had stalled in May, have “already begun,” but claimed any potential deal would need to be somewhat tilted in Washington’s favour.
However Rick Scott, the Republican senator for Florida, told CNBC’s “Squawk Box Europe” that he did not…
