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Equities Higher on Trade Hopes
Late on Friday, markets were boosted by news that Trump had agreed to roll-back tariffs on Chinese goods as part of the effort to get a trade deal signed. However, over the weekend, Trump stated that the reports were untrue and clarified that he has not agreed to roll-back tariffs on Chinese goods.
The reports emanated from comments made by the Chinese Ministry of Commerce saying that the two countries had agreed to remove tariffs in stages. This was to allow for an end to the trade war which has gone on for 18 months and ravaged both economies.
Chia Demands Tariff Removal
China has consistently demanded that tariffs be rolled back as part of its criteria for doing a deal. With the US having recently postponed the latest scheduled set of tariffs, many were hopeful that negotiations were leading in the right direction. However, Trump has made it clear that wide-scale rolling back of tariffs is not on the cards, at least not yet.
Trump Says Roll-Back Report...
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