FAST FIVE: Stocks, Yuan Erase Tariff-Delay Spike After Mulvaney Comments
Stocks, Yuan Erase Tariff-Delay Spike After Mulvaney Comments Update (0940ET): Surprise.
Additionally, Commerce Secretary Wilbur Ross told Fox Business that American and Chinese negotiators are working “around the clock” on a deal, but added that it's more important to win a good deal for the US than to put off the tariffs set to take effect on Sunday.
“I don't expect a final deal by the 15th.
Chinese analyst Lu Xiang said that the implementation of the 15 per cent tariff on around US$160 billion of Chinese goods would be “treated as a natural disaster.” “If we see US tariffs on Sunday, it would mean the talks collapse,” said Lu, a research fellow on US-China relations with the Chinese Academy of Social Sciences.
“The final decision is in the hands of [US President Donald] Trump.