Kyle Bass Says Substantial U.S.-China Deal Unlikely at This Time (Bloomberg) Hedge fund manager Kyle Bass, founder of Hayman Capital Management, said a “substantial” U.S.-China trade agreement is unlikely at this stage. The U.S. and China could reach an interim trade deal, “where the Chinese buy some more ag products from the U.S., and the U.S. decides to delay tariffs,” Bass said in a Bloomberg TV interview on Thursday. “The hard one is getting a more substantial agreement put together, which I don’t think will happen at this moment in time.”