2 fulllllllll days of negotiations and this is what they come up with for a partial agreement ...everyone knew already that they were going to increase agricultural purchases. The market is hyped up over absolutely nothing. These trade wars weren't even partially settled. Markets will take notice of this in the next week or two as this is just a kick the can down the road situation.
The US reportedly reached a limited trade agreement with China on Friday that would pave the way for resolutions on broader issues later in the year, temporarily defusing a bitter dispute that has roiled the world's largest economies.
China agreed to increase agricultural purchases and roll back some tariffs as part of the agreement, according to Bloomberg. The two sides have since taken tit-for-tat punitive measures against each other, including through a near-steady stream of steep duties on thousands of products.
The report came after two days of meetings in Washington, where negotiators were expected to attempt to avert scheduled escalations that would increase tariff rates to as high as 30% next week. US stock indexes soared on hope for an agreement. The White House did not offer comment on the matter.
The US reportedly reached a limited trade agreement with China on Friday that would pave the way for resolutions on broader issues later in the year, temporarily defusing a bitter dispute that has roiled the world's largest economies.
China agreed to increase agricultural purchases and roll back some tariffs as part of the agreement, according to Bloomberg. The two sides have since taken tit-for-tat punitive measures against each other, including through a near-steady stream of steep duties on thousands of products.
The report came after two days of meetings in Washington, where negotiators were expected to attempt to avert scheduled escalations that would increase tariff rates to as high as 30% next week. US stock indexes soared on hope for an agreement. The White House did not offer comment on the matter.
