Trump Celebrates Halt to China Trade War as Markets Surge Trump Celebrates Halt to China Trade War as Markets Surge – NTK Network

Trump Celebrates Halt to China Trade War as Markets Surge

President Trump and Chinese President Xi Jinping marked the temporary halt of a cold trade war over the weekend, and the global business community seems happy about it.

By NTK Staff | 12.03.2018 @10:00am
Trump Celebrates Halt to China Trade War as Markets Surge

President Trump and Chinese President Xi Jinping achieved a partial offramp to the escalating trade war between the U.S. and China at the G20 summit in Argentina, the leaders announced over the weekend.

BBC reported:

President Trump and Xi Jinping have now agreed to a temporary truce in the bitter dispute.

Over dinner at the G20 summit, they agreed to not increase tariffs for 90 days to allow for talks.

Failure to strike a deal would have seen tariffs on $200bn worth of Chinese goods rise from 10% to 25% at the start of next year, and would have opened the way for tariffs on additional Chinese goods.

China is already beginning to remove retaliatory tariffs it had placed on imports of U.S. cars into their country, the BBC also reported.

President Trump tweeted the news late Sunday night:

The president also celebrated the gains made with Xi over several tweets on Monday morning:

The stock market responded positively to the news of a halt to the U.S.-China trade war, with Dow futures up several hundred points, according to Reuters.

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