Below is an extract of a post published on Guardian titled "Markets rally after Trump and Xi agree trade truce - business live"
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Make america great again.- Donald Trump.
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The best executive is the one who has sense enough to pick good men to do what wants done, and self-restraint to keep from meddling with them while they do it.- Theodore Roosevelt.
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Via: Guardian
Rolling coverage of the latest economic and financial news, as shares surge in Asia and Europe 7.10am GMT Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. “This was an amazing and productive meeting with unlimited possibilities for both the United States and China. It is my great honor to be working with President Xi.” China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%. Related: Trade war truce: markets jump as Trump says China will halt new car tariffs With the immense weight of the global supply chain dynamic network on their shoulder, a tariff detente has emerged after a highly anticipated dinner. Both Presidents’ XI and Trump have agreed to put on hold the menacing tariff increases expected to get imposed January 1, marking a significant de-escalation in trade tensions between the world’s two biggest economies. Thankfully, for risk sentiment, the “dinner date of the decade” ended with a sense of harmony rather than trade war discord. Firm opening across all European Indices:#FTSE 7094 +1.63%#DAX 11519 +2.32%#CAC 5092 +1.75%#MIB 19486 +1.55%#IBEX 9221 +1.59% Continue reading…
