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Trump said that trade talks would continue and that tariffs imposed by the United States might or might not be cancelled, depending on the outcome of future negotiations.
After U.S. Treasury Secretary Nouchin said the U.S. -China trade negotiations were "constructive", the U.S. stock market shrank its early declines and the S&P 500 index closed higher.
The US raised tariffs on 200 billion US dollars of Chinese imports from 10% to 25%, making financial markets uneasy. Financial markets had feared that a 10-month trade war between the world's two largest economies could get out of hand. China is expected to take counter-measures.
The following are the reactions of Wall Street and the relevant parties in the United States:
MARK GRANT, Managing Director and Chief Global Strategist, B. RILEY FBR, Florida:
In my view, potential trade agreements with China will be positive if the two governments can solve problems that are meaningful to both countries. If they do not, it will be a slight shock to the United States and a real concern to China. Frankly speaking, we can bear the consequences of not reaching an agreement. They can also, but they are not as strong as us. The barricades on their roads will be tightened and the straps around their necks will be tightened. Well, whichever side should be blamed, it's not the core issue for me. I think the media pay more attention to this agreement with China than investors, especially institutional investors. I also pointed out that although the stock market has been in a difficult position, bonds have performed exceptionally well. Whether it is bonds or investment-grade bonds or high-yield bonds, they are rising continuously.
Over the past two days, the United States and China have had a frank and constructive dialogue on the current state of trade relations between the two countries, "President Trump said in a tweet. Then the stock market began to change and sentiment became positive, and some market participants had been worried about the breakdown of negotiations. It's just a "power game" and players are negotiating to get the upper hand. Fortunately, the game did not use weapons.


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