It’s 'extremely improbable' that a trade deal will be reached at the Trump-Xi meeting at the G-20 summit, Blackstone CEO Stephen Schwarzman says.
The face-to-face meeting was welcome news for financial markets, withas skittish investors took comfort in a development aimed at resolving the ongoing trade war between the two economic superpowers.
The chairman and CEO of private equity giant Blackstone, which has over $500 billion in assets under management, told CNBC's "Squawk Box Europe" that Trump and Xi must first decide "how far they are willing to go conceptually" before letting senior trade officials work out some of the finer details.
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