China agreed in Argentina to buy a "substantial" but not yet determined amount of agricultural, energy and other US products…
China agreed in Argentina to buy a “substantial” but not yet determined amount of agricultural, energy and other US products to reduce trade balance between the two, according to the White House. China has set prices of $ 110 billion in US goods.
“Of course, there is a long way to go here, but the pattern of previous [Trump] offers plays out,” said Qiao.
Dowen rallied more than 5 percent last week in anticipation of a trade weapon this weekend between Xi and Trump. Shares of Caterpillar and Boeing, two companies with a lot of riding on free trade with China, led the profits to the weekend. The S & P 500 jumped 4.9 percent last week and is now 3 percent for 201
8. Fear of a full-blown trade war between the two countries helped send the benchmark to the correction area and into red for the previous month.
“This is all constructive news for markets, but the overall concerns of US-China relations remain and should therefore take caution for the markets in the short term,” said Sacha Tihanyi, Deputy Chief of TD Securities Emerging Markets, in a note. Some of the larger, structural “issues are not those we think can easily be handled in 90 days.”
– With reporting by Michael Bloom, Kevin Breuninger and Javier David