Investors have paid dutiful attention to developments in trade negotiations between the United States and China.
Global stocks rallied last week on reports that both sides had agreed to reduce tariffs as part of a interim deal, and they later retreated when President Donald Trump said the reports were false.
Investors who hoped Trump would deliver some clarity during a speech to the Economic Club of New York on Tuesday were left disappointed.
The American president said he was "close" to agreeing a preliminary deal with Beijing, but he also revived his threat to impose additional tariffs on goods imported from China.
If Beijing doesn’t agree to America’s trade terms, Trump said, “we’re going to substantially raise those tariffs.” “We will only accept a deal if it’s good for the United States,” he added.
What comes next is anyone's guess. "Working out the next step in a seemingly random sequence of moves by President Trump as he demonstrates The Art of the Trade Deal really would come in handy at the moment," Societe Generale strategist Kit Juckes wrote in a research note Wednesday.
https://www.cnn.com/business/live-news/stock-market-news-today-111319/index.html
2019-11-13 14:39:00Z
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