The US-China trade deal seems to be getting delayed
In Order to strike a trade deal with China, it would be better to wait until the 2020 election ends, according to the president of the United States, Donald Trump. He said this on Tuesday and further stated that he has no deadline for the deal.
“In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we will see whether or not the deal is going to be right,” Trump responded to the reporters in London, where he is supposed to attend the NATO summit. The general election in the US is set to take place in November next year.
After Trump’s comments, the Dow Futures Index lost over 100 points on Tuesday morning as the investors started having a negative outlook due to a deal being delayed.
Washington and Beijing, of the two economical giants, have charged tariffs on various goods that are worth billions of dollars since the beginning of 2018, heavily affecting the financial markets, thriving businesses and also, consumer sentiment. The next tariff deadline is Dec. 15. If the two countries fail to reach a deal by then, the situation would be more negative.