AFP, Hong Kong :
Signs of easing tensions between China and the US in their trade row fuelled hopes of a breakthrough in high-level talks next month but Asian markets were mixed as dealers struggled to extend this week’s healthy rally.
Donald Trump on Wednesday said he would delay hiking tariffs on Chinese goods, just hours after Beijing announced it would remove a range of US products from its own planned levies. The moves provided an extra shot in the arm for investors as they await key announcements from the US and European central banks that are expected to see a further easing of monetary policy.
In a tweet Wednesday night, Trump said: “We have agreed, as a gesture of good will, to move the increased Tariffs on 250 Billion Dollars worth of goods (25% to 30%), from October 1st to October 15th.”
He added that the delay was requested by “Vice Premier of China, Liu He, and due to the fact that the People’s Republic of China will be celebrating their 70th Anniversary”, on October 1. Earlier in the day, China said it would temporarily exempt 16 categories of US exports from tariff increases in an olive branch to Washington before the talks take place and which Trump described as “a big move”.
The more conciliatory tone from both sides – after months of rancour -fuelled hopes they can edge towards a solution to their long-running trade war, which has jolted the global economy and stock markets.
Signs of easing tensions between China and the US in their trade row fuelled hopes of a breakthrough in high-level talks next month but Asian markets were mixed as dealers struggled to extend this week’s healthy rally.
Donald Trump on Wednesday said he would delay hiking tariffs on Chinese goods, just hours after Beijing announced it would remove a range of US products from its own planned levies. The moves provided an extra shot in the arm for investors as they await key announcements from the US and European central banks that are expected to see a further easing of monetary policy.
In a tweet Wednesday night, Trump said: “We have agreed, as a gesture of good will, to move the increased Tariffs on 250 Billion Dollars worth of goods (25% to 30%), from October 1st to October 15th.”
He added that the delay was requested by “Vice Premier of China, Liu He, and due to the fact that the People’s Republic of China will be celebrating their 70th Anniversary”, on October 1. Earlier in the day, China said it would temporarily exempt 16 categories of US exports from tariff increases in an olive branch to Washington before the talks take place and which Trump described as “a big move”.
The more conciliatory tone from both sides – after months of rancour -fuelled hopes they can edge towards a solution to their long-running trade war, which has jolted the global economy and stock markets.
