That should mean good news for global trade. And good news for the Aussie economy.
An agreement just around the corner?
According to RAW, US President Donald Trump has said trade talks with China this weekend had been ‘very productive’ — in working ahead of a 1 March deadline for the imposition of further US tariffs on Chinese imports.
And while on Sunday, Trump said that discussions would continue throughout the day, he said there was a ‘good chance’ a deal would emerge.
He said he might extend the 1 March deadline and move forward with a meeting with Chinese President Xi Jinping.
Officials on both sides are currently trying to come to terms on a variety of complex issues governing the relationship between the world’s two largest economies.
Both sides have reported narrowing their differences on the issues.
Economic stability on the horizon?
The US is currently set to increase tariffs on US$200 billion of Chinese imports, from the original 10% to 25% — unless Trump decides to delay.
While the tariff tiffs have been a major disruption to the global economic environment in the last few months, and the potential of more serious action being taken, this update comes as very good news.
It may mean that the economic environment starts to balance itself out, as soon as 1 March.
We’re watching with a close eye from now on.
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