After countless occasions when the administration of President Trump wrongly announced the imminence of an agreement between the US and China to resolve the trade conflict between the two largest economies in the world, China made the same match last Thursday, which was responsible for Bulls strength to pull Wall Street to the new highs. However, as it has been a constant, the promise of ‘’both parties agreed to cancel the customs tariffs that entered into force in September, as part of the much-talked-about partial agreement’’ was false.
It was Trump himself who dismissed that possibility on Friday and already reinforced the rhetoric of removal by saying that China has more interest in a deal than the US over the weekend. But despite this lack of optimism, which should not come as a surprise to any keen investor, the bad news is still being ignored by investors, who have been drifting the US index rather than opening the pressure valve.
Photo by Philip Strong.
This Tuesday we will see the next development of this soap opera, as the US president will speak at the Economic Club of New York, certainly taking the opportunity for another promise of agreement or a show of strength. No matter what the strong probability would be, nothing concrete happens this year, current theme remains.
