Markets are rocked by US President Donald Trump’s tweet again. He complained that WSJ’s story regarding US-China trade deal was “completely wrong, especially their statement on Tariffs.” He added, “Fake News. They should find a better leaker!”
Trump said yesterday that he’s getting “VERY close to a BIG DEAL with China.” WSJ indicated US would cut the currently imposed tariffs by 50% as part of the deal. New tariffs would be put on hold. China generally believed to offer to step up US farm products purchases in 2020, possibly doubling from the value in 2017 to USD 50B.
Markets are expecting some form of formal announcement to be made today by US administration. It remains to be seen if that would happen.
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