Moving ahead on the trade deal could signal that Democrats and Republicans can work on substantive issues even as the House pursues a divisive impeachment case against President Trump.
The prospects for a preliminary breakthrough in the U.S.-China trade war improved Thursday after the two sides agreed to reduce some punitive tariffs on each other’s goods, though the full extent of the rollback wasn’t clear.
The two sides have agreed to reduce some punitive tariffs on each other’s goods as talks on ending their trade war progress, a Chinese spokesman said Thursday, removing a possible stumbling block to a settlement.
China on Tuesday promised more improvements in conditions for foreign companies including an end to officials pressing them to hand over technology—a key irritant in its tariff war with Washington, D.C.
Vice President Mike Pence’s speech was delivered as President Donald Trump seeks to close a new trade deal with China, with Pence cast in a hard-line role. He criticized past administrations for tolerating unfair economic and trade practices and repressing Chinese citizens.
Negotiators working through the night in Brussels came to an agreement Thursday morning after Prime Minister Boris Johnson signed on despite lingering questions about warring Brexit factions in London. The agreement would still need approval by European leaders and the British Parliament.
Companies see a U.S.-Chinese trade truce as a possible step toward breaking a deadlock in a 15-month-old tariff war, while economists caution there was little progress toward settling core disputes including technology that threaten global growth.
Financial markets, highly sensitive to the ups and downs of the U.S.-China economic relationship, surged Friday morning. The Dow Jones industrial average was up more than 420 points, or 1.6%, in late-morning trading.
President Donald Trump offered an upbeat assessment of U.S.-China trade talks and said he would meet at the White House on Friday with the leader of the Chinese negotiating team.
China demanded Washington, D.C., lift newly imposed sanctions on Chinese tech companies but said Tuesday that envoys will go ahead with a U.S. trip for trade talks despite the latest spike in tensions.
A deal should win back benefits American farmers lost when President Donald Trump pulled out of a broader Asia-Pacific pact his first week in office.
The trade wars threatening to push the global economy into recession are entering a new phase, with the United States and European Union escalating a dispute that endangers the world’s biggest trade relationship.
Vice President Mike Pence stumped for President Trump’s proposed deal with Mexico and Canada during a rally Thursday at McAllister Machinery on the city’s southeast side.
The U.K. Supreme Court court found that Prime Minister Boris Johnson acted to limit debate on Britain’s impending departure from the European Union in violation of Parliament’s constitutional role.
Several factors will influence the Fed’s decisions in the coming months on whether it needs to keep reducing borrowing rates to try to help sustain the U.S. economic expansion now in its 11th year.
Equity markets have rebounded in recent days as both President Trump and Chinese leader Xi Jinping sought to lower tensions that are clouding the outlook for the world’s biggest economies.
U.S. Treasury Secretary Steven Mnuchin said mid-level U.S. and Chinese negotiators will meet next week or the week after. Then a high-level Chinese delegation is likely to travel to Washington, D.C., to meet with Mnuchin and U.S. Trade Representative Robert Lighthizer.
President Donald Trump said the two-week delay in a planned increase in tariffs on some Chinese imports is “a gesture of good will.”
Officials will “conduct conscientious consultations” in mid-September to prepare, the Chinese Commerce Ministry said. It gave no details, but said the two sides want to create “favorable conditions.”
President Donald Trump’s comments followed signs from China that it wouldn’t immediately retaliate against the latest U.S. tariff increase and wanted to focus on removing new tariffs, to prevent a further escalation of the trade war.