Daily Trends Now
Daily Trends Now


Stocks set to jump on news of US-China trade truce

Stocks set to jump on news of US-China trade truce

Chinese officials have begun preparing to restart imports of U.S. soybeans and liquefied natural gas, the first sign confirming the claims of President Donald Trump and the White House that China had agreed to start buying some United States products "immediately".

The two sides didn't issue a joint statement after the dinner.

He reiterated that during the meeting the two leaders agreed their economic teams would step up talks to work toward getting rid of all the tariffs, and aim for a mutually beneficial deal so that trade and economic relations can get back on a "healthy" track as soon as possible.

Trump agreed in July not to impose higher duties on European Union cars while the two sides sought to improve ties in a number of fields, from regulatory cooperation to energy and a deal to remove tariffs on industrial goods. The Dow Jones industrial average closed up 288 points, a gain of 1.1%. Other market indexes also fell sharply: the S&P 500 lost 3.2% and the Nasdaq dropped 3.7%.

The Trump administration is celebrating the 90-day truce it reached in its trade war with China as a significant breakthrough despite scant details, a hazy timetable and widespread skepticism that Beijing will yield to USA demands anytime soon. The US spent 716 Billion Dollars this year.

They announced that China had agreed to buy many more American products and to negotiate over the administration's assertions that Beijing steals American technology. On Sunday, Trump tweeted that China had agreed to cut import levies on American-made cars.

"We are confident in implementation ..."

"The Chinese side will start with implementing specifics on which there is already consensus, the faster the better". -European trade tensions focused on auto exports and the threat of tariffs.




Stocks jumped higher around the world on Monday after the United States and China said they would hold fire on further tariffs for the time being and try to settle their differences through talks.

"Ultimately, I believe, we will be making a deal - either now or into the future", he wrote.

President Donald Trump and executives from Germany's biggest automakers discussed the companies' investments in the US on Tuesday as trade tensions with the Europeans and Trump's threat to impose tariffs on foreign cars sold here loomed overhead. China's government has yet to issue official comment on those details. Mnuchin said Monday morning on CNBC that China had offered to buy up to $1.2 trillion of additional USA goods, even while the "details of that still need to be negotiated".

Commerce Secretary Wilbur Ross, U.S. Trade Representative Robert Lighthizer, chief economic adviser Larry Kudlow and other administration officials met individually with executives from each of the automakers. "But if not remember, I am a Tariff Man", Mr Trump said on Twitter.

The Trump administration raised doubts Tuesday about the substance of a U.S. "President Xi and I want this deal to happen, and it probably will", he said. But he added, "if that's real" - raising some doubt - it would close the USA trade deficit with China, and 'we have to have a negotiated agreement and have this on paper'.

Speaking on Monday, Kudlow said the Trump administration would talk about "a lot of things, including our hope that they will continue to invest directly in the US and that they will use".

"They don't want to look like they've gone across the Pacific offering concessions to placate Trump, and then a few weeks later escalation resumes", he said.

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