Stocks Surge After Trump Delays Tariff Increase

Stocks Surge After Trump Delays Tariff Increase

Stocks Surge After Trump Delays Tariff Increase

With the March 1 deadline approaching, the US and China have reportedly started to sketch out the broad outlines of a deal, although the tough work lies ahead.

Tariffs on a wide range of Chinese imports into the United States were set to rise from 10 per cent to 25 per cent this Friday. "And if we don't resolve some of these perennial problems now, then the question is what could happen in the future that would allow us to resolve them, when we couldn't resolve them today?"

The source familiar with the talks played down the apparent tension between the top trade negotiator and the president, saying Trump, a former NY businessman, had viewed MOUs from a real estate perspective, while Lighthizer had done so from a trade perspective.

But the cracks in the global economy, the stock market turmoil in the fourth quarter, Trump's flagging approval rating, and the pressure from the onset of the 2020 presidential campaign seem to have all combined to change Trump's thinking. David Lampton, director of China studies at Johns Hopkins University, talks to CBC's Wendy Mesley about China's growing economic influence.

Democrats in Congress were more pointed, saying Mr Trump should be prepared to walk away from a bad deal.

US markets also pointed to a lower open.

Trump said on Friday there was a "good chance" a deal would emerge.

Rosen is our QB "right now" — Cards GM
Keim appeared noncommital when asked about his 2018 first-round selection Josh Rosen's job security as the team's starting quarterback.

President Donald Trump relitigated his year-old beef with sports media personality LaVar Ball, whose son, along with two other players, was apprehended in China for theft while he was playing basketball for UCLA in 2017.

Lighthizer is known as one the fiercest critics of China's predatory mercantilism in the administration, second only to White House trade adviser Peter Navarro in his skepticism of China's intentions and ability to arrive at a satisfactory agreement with the U.S. In the past, he has said that tariffs might need to rise to 25 percent from the current ten percent before China would make serious concessions, according to people familiar with the matter.

Trump's decision to delay the tariff increase has been greeted with a mixture of relief and dread among USA industry groups and lawmakers, many of which are increasingly fed up with what they say is China's failure to live up to its World Trade Organization commitments. The Shanghai Composite surged 5.6 percent on Monday. Another source briefed on the talks said that enforcement remained a major sticking point as of Saturday.

"We're going to have a signing summit, which is better still".

Some have expressed concerns that after almost eight months of tit-for-tat tariffs roiling global financial markets, disrupting manufacturing supply chains, and shrinking US farm exports, Trump could end up settling for a deal that increases commodity sales to Beijing while doing little to change China's underlying trade practices and industrial policies.

The trade war has contributed to investors' wariness about the markets and concerns about a slowing global economy.

The flip side, from Trump's perspective, is that a trade truce could push up oil prices.

Recommended News

  • The US Open Final: Who Will Make it?

    The 34-year-old Swiss won the first two sets 6-4 and 7-5, forcing an injured and struggling Djokovic to retire in the third. If she’s at her best, then she’ll make it to the final and if she performs on the day the title will be hers.
    Vettel crash delays Ferrari on day six of Formula One testing

    Vettel crash delays Ferrari on day six of Formula One testing

    There are two remaining days of testing this week, before the season-opening Australian Grand Prix in Melbourne on 14-16 March.
    Liverpool ace Salah: Premier League title most important thing

    Liverpool ace Salah: Premier League title most important thing

    Alexander-Arnold then got his third assist of the game as a brilliant free kick into the box was met by Van Dijk, who headed in emphatically at the Kop end.
  • CFL bans Manziel after release by Alouettes

    CFL bans Manziel after release by Alouettes

    A posting to Manziel's Twitter feed indicated he was already looking for other opportunities south of the border. At that point, the CFL released a statement detailing the process of determining Manziel's eligibility.
    Federation Internationale de Football Association  confirms Nantes claim against Cardiff City over Sala payment

    Federation Internationale de Football Association confirms Nantes claim against Cardiff City over Sala payment

    AIIB also revealed Ibbotson did not have approval to fly commercially, and had not sought approval from authorities to do this. But it said the journey would have been allowed as a "private" flight in which costs are shared between pilot and passenger.
    DISCOVERY Renewed for Season 3

    DISCOVERY Renewed for Season 3

    The first six episodes of Discovery's second season are now available on CBS All Access with new episodes uploaded at 8:30 p.m. Star Trek: Discovery season 3 is officially happening, and the CBS All Access series is getting a new showrunner, to boot.
  • Flaunt Your Style at Your Office with Graceful Jewellery

    This is why it is best to avoid jewellery that will draw unwanted attention and take away the focus from what you are presenting. A delicate diamond ring, a simple platinum or gold band looks great and works well with both Indian as well as western outfits.
    New 'Beverly Hills, 90210' coming to Fox with original cast

    New 'Beverly Hills, 90210' coming to Fox with original cast

    Carteris, Garth, Green, Priestley, Spelling and Ziering will also executive produce. Beverly Hills' most-famous residents are coming back to the zip code.
    Kate Middleton Is Giving Us Mermaid Vibes in This Glittering Gown

    Kate Middleton Is Giving Us Mermaid Vibes in This Glittering Gown

    They learned about the Stay Onside initiative, which works with criminal justice agencies in a bid to reduce offending rates. The royal couple capped off a busy day that saw them perform soccer drills, canoe races and other outdoor activities.
  • Senators Chastise Top Pharmaceutical Executives Over High Prescription Drug Costs

    Senators Chastise Top Pharmaceutical Executives Over High Prescription Drug Costs

    The Senate Finance Committee hearing was the second in series titled "Drug Pricing in America: A Prescription for Change". Bristol-Myers Squibb is not on the list , but Celgene, which BMS announced it would buy last month for $74 billion, is.
    Lil Pump Heading To Harvard For 2019 Commencement Speech

    Lil Pump Heading To Harvard For 2019 Commencement Speech

    Harvard officials told the outlet, " As previously announced , Angela Merkel will be Harvard's Commencement 2019 speaker". Alas, students will have to settle for hearing Pump speak with the campus radio station WHRB this upcoming Friday.
    Honda shows Geneva-bound E Prototype

    Honda shows Geneva-bound E Prototype

    Speaking of black panels, the concave ones between the front and rear lights are clear hints to the Urban EV concept . The production auto will only be sold in Europe initially, with production beginning later in the year.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.