Recent meetings between China and the US, shows optimistic progress as China is easing their recent tariffs on American goods.
The trade war between China and the US, have taken a lot of focus during 2018, but now it seems like things are moving in the right direction.
The Chinese vice prime minister, Liu He, unexpectedly attended the meeting – showing further cooperation and importance from the chinese.
The recent meetings are the foundation to an agreement between the two countries that are set to be finished by March 1st – the same day as the “ceasefire” runs out.
As so, even with the recent positive developments, nothing is for sure yet and a “ worst case scenario” is still possible. Though, there could be a scenario where the March 1. deadline passes without new tariffs.
The tariffs have been hard on American commerce, consumers and businesses in the export sector. As an example, Apple lost 10% of its market cap or $75 billion in one day.
Though, so far the trade war has had a much bigger impact on Chinese growth than US growth, however that could change.
According to an article on CNBC, economists say that China has more leverage to fight the impacts of the trade war on its economy, while the US risks seeing a drop in confidence.
China could stabilize as the U.S. growth weakens later in the year, shifting the advantage to China.
A global economist from Citigroup explains; “There is a window of opportunity for the U.S. and China to come to a deal. Growth is moderating in China, equity markets have been falling in the U.S. and China, and this basically opens a window of opportunity. This may close soon.”
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