Stocks Surge on US Decision to Postpone China Tariff Hike

02 March, 2019, 07:57 | Author: Erin Carter
  • US to delay further tariffs on Chinese goods

President Trump is delaying the scheduled March 1 imposition of 25-percent tariffs on some $200 billion worth of Chinese goods, pending the results of trade talks with China.

The president tweeted on Sunday that progress had been made on a host of divisive areas including intellectual property protection, technology transfer, agriculture, services and currency.

The United States had been due to increase tariffs on more than $200 billion in Chinese goods on March 1, but Trump said he would now delay the punitive duties following the "very productive talks".

If the sides make further headway in negotiations, Trump said he and Xi planned to meet at his Mar-a-Lago resort in Florida to conclude an agreement, though he didn't offer any details on the timing of the meeting or how long he expects the tariff extension to last.

Negotiators cautioned, however, that a final deal was still uncertain.

Trump has made cutting a trade deal with China a priority.

Trump said Sunday there could be "very big news" in the next two weeks, and he planned to meet with Xi at the USA leader's Mar-a-Lago resort in Florida if more progress is made.

Doctor Reveals Dangerous Content In YouTube Kids Videos
Hess did say that YouTube is faster about pulling questionable videos from YouTube Kids than from regular YouTube . You can speak with someone who will provide free and confidential support 24 hours a day, seven days a week.


ENERGY: U.S. crude oil gained 2 cents to $55.50 per barrel in electronic trading on the New York Mercantile Exchange.

The goods, which have been under a 10-percent tariff order since September, include tires, rubber chemicals, manufactured rubber goods and synthetic and natural rubber. Asked if he would consider dropping criminal charges against Huawei as part of a deal, Trump said Friday that he would discuss the issue with the attorney general and USA attorneys. "Once you move from putting together outlines to filling out the details, that is where things would naturally become more challenging".

"As a result of these. very productive talks, I will be delaying the US increase in tariffs now scheduled for March 1. A very good weekend for U.S. & China!" he added. S & P 500 e-mini futures ticked higher after Trump's tweets on trade, suggesting Wall Street would open on positive footing on Monday morning.

"It's not surprising that this week has been more challenging", said an industry source familiar with the talks.

Another Chinese state-owned newspaper, the Global Times, said the talks "solved most of the problems of both sides" and negotiators were "already preparing the text of an agreement". We know they want to reduce the trade deficit, the president wants to stop intellectual property theft and forced tech transfers. That sparked a back-and-forth with Lighthizer, who argued that MoUs were binding contracts, before saying they would abandon the term altogether going forward. Now there have been trade talks to avoid this.

"I have strong hopes that the two largest economies will be able to bridge their differences and reach a constructive agreement", said Carla A. Hills, chairman and CEO of Hills & Company, International Consultants, a Washington-based advisory firm on trade and investment.

Recommended:



Popular

Guaidó to visit Brazil for talks on Venezuela
Maduro said that the meeting in Bogota was "part of that politics to attempt to establish a parallel government in Venezuela". Several Latin American, European and other diplomats also joined Wood's walkout.

Kate and the baby in the crowd who made her feel broody
She and Prince William are also the proud parents of three year old Princess Charlotte and five year old Prince George . Speaking at the event, the Duke of Cambridge hailed Mary and her work to get young people involved in athletics.

Bryce Harper agrees to 13-year, $330 million deal with Philadelphia Phillies
Phillies managing partner John Middleton traveled to Las Vegas last weekend to express his long-term vision to Harper. Jon Heyman reports it is a deal worth $330 million, and Passan adds it's a 13-year deal with no opt-outs.

Lena Dunham defends Jordyn Woods amid Tristan Thompson, Khloe Kardashian cheating scandal
Fans have speculated that Woods's connection to the Smiths is what will save her from total Kardashian-stirred ruin. Lena Dunham defended Jordyn Woods amid the Khloe Kardashian and Tristan Thompson's most recent cheating scandal .

Building a Connected Public Health Care System for the Patient
Health care providers will be accountable for the patients they serve and will partner to effectively coordinate their care. The government intends to introduce legislation on the health system overhaul by Tuesday afternoon.

Flight operations in Pakistan restored partially
Worldwide flights exiting Indian airspace north of Mumbai are being re-routed through the Middle East, The Hindu reported . The IAF also said a Pakistani F-16 aircraft had crashed in the Lam Valley area along the Line of Control, reported NDTV .

India asks Pakistan to immediately return Wing Commander Abhinandan, ensure his safety
The Indian air force ordered Kashmir's main airport in Srinagar and three other airports to close down because of the incidents. An Indian military statement said that "out of anger and frustration", Pakistan initiated an "unprovoked cease-fire violation".

LG’s new phone reads your palm to unlock
Though the company hasn't released any official pricing or availability information for the V50 5G has been released quite yet. The company has also counted in a 32-bit Hi-Fi Quad DAC, totaling that the G8 ThinQ supports DTS 3D Surround Sound.

Brexit news UK Parliament gets to decide between no deal and delay
Though Labour's move is potentially a game-changer, the path to another referendum is far from clear. Attorney General Geoffrey Cox about potential tweaks or additions around the margins.

Saudi Arabia Appoints Princess as New U.S. Ambassador
We must not, and I will not, frustrate what was the largest democratic exercise in this country's history", she said. She will be the first Saudi woman to head a diplomatic mission in any form, the Saudi Press Agency reported .