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U.S. stocks rose more than 1% on Monday after Chinese Vice Premier Liu He said China was willing to solve the problem calmly through consultation and cooperation, and Trump was expected to reach a trade agreement with China.
The S& P 500 index fell 2.6% on Friday after Intel Trump announced an increase in tariffs on about $550 billion of Chinese imports to the United States in retaliation for China's earlier tax hikes on the United States. Trump also tweeted to American companies to find alternatives to Chinese business, but his threat seemed to soften on Sunday.
A year after the trade conflict, Trump's intentions are becoming increasingly elusive, exacerbating the pain on Wall Street, with investors worried that tariffs could drag the U.S. economy into recession.
"The plot of this trade war is more tortuous than Quentin Tarantino's film," Edward Moya, senior market analyst at OANDA, wrote in a research report. He added that higher and broader tariffs would punish U.S. consumers and could make the U.S. economy struggle.


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