U.S.-China tariffs to be discussed during high-stakes White House meeting
President Trump will be meeting senior trade advisers during a meeting at the White House. Financial markets are expecting better outcome for the 17-month long trade war between China and the United States.
Markets were expecting Chinese leadership and President Trump to reach a deal ahead of December 15 deadline for tariffs. Negotiations between officials have failed to reach any deal and tariff rollbacks are probably not on the cards.
Traders in China and United States have suffered due to tariffs but the resolution to the issue isn’t still in the sight. Reports also suggest that tariffs haven’t had any major impact on the U.S. economy or stock markets.
As per a Reuters report, “Trump’s advisers are divided about whether to proceed with the Dec. 15 tariffs and what impact such a move would have on U.S. financial markets, one source familiar with White House trade deal negotiating procedures said.”