U.S. stock futures are solidly higher, after U.S. President Donald Trump made positive remarks on the U.S.-China trade talks.
Trump told reporters on Thursday that talks between the two countries were going “really well.” His comments came after he tweeted that he would meet with Chinese Vice Premier Liu He at the White House on Friday.
Trump’s tweet came hours after a deluge of trade-related headlines Wednesday night gave investors whiplash. Some reports indicated the talks were stalling or were yielding little fruit. Others, however, pointed toward some sort of deal being made that would involve holding off on higher U.S. tariffs against China.
Even a partial deal could be a huge boost for stocks, especially following this week’s scary headlines
If no progress is made in bilateral trade negotiations this week, Trump has said tariffs on Chinese imports will increase on October 15.
The U.S.-China trade war has dragged on for more than a year. In that time, the U.S. has targeted billions of dollars worth of Chinese goods with tariffs. China has retaliated with levies of its own, sparking fears of slower global economic growth and weaker corporate earnings.
Source: CNBC
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