"Lighthizer offers a far more grounded prognosis of the likelihood of success than President Trump and others in the administration recently have,” said Henrietta Treyz, director of economic policy at the investment advisory firm Veda Partners. “Without fail, Lighthizer makes sure to acknowledge that failure and success are both options with China." — Henrietta Treyz

“The street very much wants to see the tariffs come off...but folks in DC trade circles and those familiar with the talks indicate that at best we probably see a small piece of the tariffs will come off, not nearly the overarching basket that the street is looking for.” — Henrietta Treyz

“Trade is likely to occupy “a substantial portion” of the speech, as legislative action from Congress during the next two years is unlikely, so Trump needs to prioritize “areas where he can enact change unilaterally,” Veda Partners director of economic policy research Henrietta Treyz says. She expects Trump to “leave the door open for further tariffs ... but message that progress is being made.” — Felice Maranz, Bloomberg

The possibility of a China/US trade agreement draws closer each day. Is this an overhang removed to be bought or a sell the news event? Henrietta Treyz of Veda Partners joins me to discuss the details around enforcement and how funds seem to be positioned.

“Henrietta Treyz, director of economic policy research at the investment advisory firm Veda Partners, spent her weekend studying the 1935 Banking Act to determine whether Mr. Trump could unseat Mr. Powell as chairman but keep him on the Fed board without violating the law. She has yet to determine whether that could pass legal muster.” — Alan Rappeport, New York Times

“We do not have evidence to suggest that China is preparing to capitulate in such a manner and do not see an end to the tariffs in the near term.” — Henrietta Treyz

“They are trying to thread the needle on all three of those [trading] issues so it’s definitely an uphill battle” — Henrietta Treyz

“My expectation for investors is that we’ll keep this to a top of about 22 and a half if it even rises above 20 percent.” — Henrietta Treyz

“This was purposely opaque,” said Henrietta Treyz, director of economic policy and a managing partner at Veda Partners. “They are under strong pressure from multinationals to make sure that they don’t get hit hard.” — Henrietta Treyz