Trade war is coming to an end!
Wait…
Trade war is back on!
Wait…
Trade war is nearly over.
Wait…
Trade war has escalated.
Wait…
Well, you get the point.
The latest phase looks like the United States and China are trying to deescalate the situation. That is until President Donald Trump tweets something outrageous and declares a 50 percent tariff on $20 billion in Christmas decorations.
According to Bloomberg News, China announced its trade representatives will visit Washington next month to meet with its American counterparts, signaling that it might be ready for a resolution to the trade dispute, which has impacted both economies.
From the business news network:
Vice Premier Liu He agreed to the visit in a phone call on Thursday morning Beijing time with Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer, according to a statement from China’s commerce ministry. Lower-level officials will have “serious” discussions this month to prepare for the talks, which had originally been expected to take place in September.
The prospect of talks may raise hope of some progress in the more than year-long trade war, though clear differences between the two sides on the substantive issues remain. Both sides raised tariffs on Sept. 1 in the latest round of retaliation, the U.S. plans to add more tariffs on Oct. 1., and then both nations will increase them again on Dec. 15 unless there is some breakthrough.
Just when a trade deal might be on the horizon, something will happen. Let’s not get our hopes up.
But investors are might be falling for it again as the Dow Jones soared more than 400 points in the early trading session.
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