Home Politics America President Trump, “Trade Deal Possible With China’s Xi, Tariffs Could Be Lowered”

President Trump, “Trade Deal Possible With China’s Xi, Tariffs Could Be Lowered”

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$DIA, $SPY, $QQQ, $RUTX, $VXX

FLASH: Investors and Traders in a Wait & See mode for the G-20 Summit this weekend

Wednesday, President Trump said that a trade deal with Chinese President Xi is possible this weekend, but he is prepared to impose US tariffs on virtually all remaining Chinese imports if the 2 countries continue to disagree.

President Trump departed for the G-20 Summit in Osaka Japan on Wednesday.

He raised the possibility that he may impose a lower, 10% duty on a $300-B list of Chinese imports, instead of the proposed 25% rate.

President Trump is expected to meet with President Xi Saturday in Osaka to discuss and perhaps resolve the trade dispute or move closer to a joint resolution.

“It’s absolutely possible … We have to get a good deal,” Trump said in an interview with Fox Business Network. “It’s possible that we’ll make a deal but I’m also very happy where we are now.”

Trump said Chinese leaders “want to make a deal. They want to make a deal more than I do.”

Wednesday, the major US stock market indexes finished at: DJIA-11.40 at 26536.82, NAS Comp +25.25 at 7909.96, S&P 500 -3.60 at 2913.78

Volume: Trade on the NYSE came in at 822-M/shares exchanged

  • NAS Comp +19.2% YTD
  • S&P 500 +16.2% YTD
  • Russell 2000 +12.6% YTD
  • DJIA +13.8% YTD

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Neutral with a Bullish bias in here.

Stay tuned…

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S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.