US and China Building Groundwork for Possible Trade Agreement

September 12, 2019 Share Print 0

The United States on Thursday welcomed China’s promise to buy agricultural goods while maintaining the threat of U.S. tariff hikes as the world’s two largest economies sought to prepare the ground for upcoming in-person talks.

Lower-level U.S. and Chinese officials are expected to meet within days in Washington ahead of talks between top trade negotiators in early October aimed at easing a trade war that has rattled financial markets and fueled fears of a looming global recession.

Global stocks rose on Thursday after both sides made concessions ahead of the talks, with U.S. President Donald Trump delaying an increase in tariffs on Chinese goods by two weeks after China exempted some U.S. drugs and other goods from tariffs on Wednesday.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.