[ad_1]
Markets, which turned at every turn in the trade war, rose on the potential that both parties could finally reach an agreement. US stock indexes climbed before reducing some of their gains. The S & P 500 index was up 0.29% at the end of the day, while the Dow Jones industrial average gained 0.17%.
Relations between countries have deteriorated since May, when China gave up an almost complete agreement that would have forced it to codify the agreement in Chinese law, which, according to Beijing, would undermining its sovereignty. Since then, Trump has imposed additional tariffs on $ 112 billion worth of Chinese goods and has threatened further tariff increases in October and December.
China responded to the escalation by raising tariffs on the $ 75 billion worth of US goods. Chinese state enterprises have also suspended their purchases of soybeans, pork and other US products, a blow to US farmers who have already lost markets because of trade disputes.
Although Trump's advisers publicly insist that the trade war has no effect on the US economy, many are eager to ease tensions. They discussed ways to avoid planned tariff increases that would result in the United States taxing almost all Chinese toys, sneakers and computers by the end of the year.
The president on Thursday rejected reports that he was fighting for an interim agreement with China that would solve only certain problems. "I would prefer the deal to be concluded," he said, adding, "This is something we would consider, I suppose."
The administration looked at whether an agreement with China would be a boon or a responsibility for the re-election of the president. His advisers have been working for months to reach an agreement strong enough to escape Democrats and Republicans' criticism that Trump would bow to America's biggest economic competitor.
Some White House officials, including President Jared Kushner's son-in-law, said the president did not need to seal an agreement with China to win voters. Kushner and others argue that if the administration manages to achieve other commercial successes, such as the adoption of the revised trade agreement with North America and the announcement of a trade agreement with Japan, that will be enough to gather the base, according to people who know their thought well.
[ad_2]
Source link