Bloomberg is reporting that the tariffs between US and China are on track to be removed if ongoing talks can be confirmed.
Is The Trade War About To End?
Bloomberg is reporting that the US and China have agreed to proportionally roll back the tariffs on their goods in phases, according to a Chinese Ministry of Commerce spokesman.
In the next few weeks the two countries may be able to agree the amount of tariff relief, so it depends what the two countries are able to agree, but there have been “constructive talks” between the two sides.
The idea is that the first phase will create a plan for the two countries to unwind the trade war that has hurt global growth and caused economic fears over the past few years.
Even the location and date are two discussion points for the two countries, as both would like to be seen to be in charge of negotiations.
The S&P 500 (INX) futures went up 0.5% in reaction to this news and the ASX will have its chance to react on Friday.
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