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The rollercoaster ride of the US-China trade negotiations took another turn yesterday. US equities jumped on news that the US is planning to delay the next round of tariffs.
The US was planning to activate a fresh round of 15% tariffs on $156 billion worth of Chinese goods if no deal is signed by December 15th.
Despite reports saying that talks remained in good health over recent weeks, the market was growing fearful that a deal would not be completed in time. With the prospect of fresh US tariffs also came the fear that China would retaliate. This would likely result in a breakdown in the talks.
However, on Tuesday, the Wall Street Journal reported sources close to the talks as saying that the two sides are working to agree on postponing the tariffs.
When questioned last week on whether the US would be going ahead with the tariffs, Trump quickly changed the subject. He claimed that he would “have to see” and that he didn’t want to talk about it.
“Laying The Groundwork”
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