Wall Street hits record highs after reports U.S. signs trade deal with China by skleb1234
this morning that the U.S. was “getting VERY close to a BIG DEAL with China” and that both sides want to work out an agreement. followed soon after, detailing how U.S. negotiators offered to slash existing tariffs, which cover roughly $360 billion of Chinese goods, by 50%.
The U.S. will also cancel the tariffs planned to take effect on another $156 billion of Chinese goods on December 15, theIn return, the U.S. pushed for China to commit to additional purchases of agricultural and other products, better protection of U.S.
“In any type of negotiation, close doesn’t mean done. ... The market is optimistic in that regard, but we’re still waiting for final confirmation,” says Mark Freeman, chief investment officer at Socorro Asset Management. “How things go from a market standpoint is dependent on what gets done—or what doesn’t get done—by Sunday.”“Trade teams from both sides are maintaining close communications,” a spokesman at China’s Commerce Ministry said at a news briefing Thursday.
The recent trade news comes after the Federal Reserve’s Wednesday decision to hold interest rates steady through at least 2020, as Fed officials take a wait-and-see approach going into next year. Wall Street has continued to
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