What the US-China truce means for business

Quite a lot has been going on:

Trump’s description of the China trade deal doesn’t match the official White House version

President Donald Trump’s assertions about the U.S.-China agreement to pause tariff escalations that emerged over the weekend do not appear to match the White House’s official description of the agreement.

Following the conclusion of the G-20 summit in Argentina, the U.S. leader described the agreement brokered with Beijing as “one of the largest deals ever made.” He said Chinese President Xi Jinping’s government “will be opening up” and “getting rid of tariffs.”

  • Publisher: CNBC
  • Date: 2018-12-03T02:05:10-0500
  • Author: Author link
  • Twitter: @CNBC
  • Citation: Web link

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Dow surges, global markets rally on investor optimism following U.S.-China trade truce

Global markets were lifted Monday on investor confidence over the announced 90-day trade truce between the United States and China.

The Dow Jones industrial average opened with a big boost, surging 425 points, or 1.6 percent, on the news that President Trump and his Chinese counterpart, Xi Jinping, will let the trade war cool for a few months as they try to negotiate an agreement. By lunchtime, it had given up some gains, and was up 0.6 percent.

The tech-heavy Nasdaq composite rose 0.9 percent, and the Standard & Poor’s 500-stock index was up 0.5 percent. The Nasdaq is out of correction, and U.S. stocks are up in four of the past five days.

US should send China flowers, not tariffs | TheHill

Better still, we could do some reciprocal opening: Repeal the 25-percent tariff on pickup trucks and our own restrictions on foreign investments.’

Large additional tariffs would be terrible for the U.S. economy. Tariffs are taxes. Traditionally anti-tax Republicans, fresh off a hard-won victory to lower corporate taxes, should get that. And these taxes are starting to bite.

For just one example, General Motors’ decision to close car plants was not completely unaffected by the price of steel and aluminum needed to make cars. And the constant threat of tariffs is in some ways worse than tariffs themselves.

Trump Deserves Some Credit for a Truce With China

What the US-China truce means for business

(CNN) – The truce between the United States and China means that Corporate America has dodged a massive bullet — for now at least.

Executives are breathing a sigh of relief after the trade war between the world’s two largest economies cooled significantly over the weekend. A tariff hike on $200 billion of Chinese goods was supposed to go into effect on January 1 but has been punted for three months.

The US-China ceasefire is not a breakthrough that ends the trade war entirely. The tariffs already imposed remain and new ones could still be imposed. Washington and Beijing have simply agreed to take a timeout to talk.

  • Publisher: WFMZ
  • Date: 2018-12-03T20:07:49+00:00
  • Author: MATT EGAN
  • Twitter: @WFMZ
  • Citation: Web link

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