China and the United States have temporarily reached a trade pause.
Speaking at the White House today, President Trump stated, “We’ve come to a very substantial phase one deal”...adding it will take three to five weeks to get written. Included in this deal is intellectual property, $40-50b agriculture related products, as well as financial services.
As of right now the United States is not giving anything in return, rightfully so.
To smooth things over with this agreement, the United States agreed to not raise tariffs 30% next week on the Chinese.
The stock market seems to love this move, seeing as U.S. stocks spiked, with the Dow Jones Industrial Average rising almost 500 points. This is the third major deal President Trump has sealed.
Everything seems to be looking good according to this recent tweet:
Good things are happening at China Trade Talk Meeting. Warmer feelings than in recent past, more like the Old Days. I will be meeting with the Vice Premier today. All would like to see something significant happen!— Donald J. Trump (@realDonaldTrump) October 11, 2019
What do you think about the President's moves with this trade war?
Let me know in the comments!
Together we can Keep America Great,