Today the Dow is up 123 points and Wall Street appears to be happy just to know there is potential for talks to end trade war. Today Trump announced that Chinese officials called Washington and expressed an interest to “get back to the table.”
The President told reporters “I think we’re going to have a deal” discussing trade relations with China. According to Fox News, “China signaled Monday it is now seeing a ‘calm’ end to its ongoing trade war with the U.S. and President Trump voiced optimism about a deal.”
Explanation as to China’s sudden willingness to have discussions are that “Asian markets crumbled, and China’s currency plummeted to an 11-year low following the latest tariffs on $550 billion in Chinese goods announced last Friday by the Trump administration.”
Speculation is that the “possible opening in negotiations came shortly after Trump threatened to declare a national emergency that would result in American businesses freezing their relationships with China. Trump’s tariff barrage on Friday was a response to China imposing its own retaliatory tariffs on $75 billion in U.S. goods.”
China’s response seems to be in agreement with Trump. Chinese Vice Premier Liu He told “a state-controlled newspaper on Monday that ‘China is willing to resolve its trade dispute with the United States through calm negotiations and resolutely opposes the escalation of the conflict,’ Reuters first reported, citing a transcript of his remarks provided by the Chinese government Liu is China’s top trade negotiator.”
