The US stock market jumped Monday morning after a series of positive trade talks between President Trump and other world leaders at the G-7 summit over the weekend; with China adding they now seek a “calm end” to a potential trade war with the United States.
“Stocks gained after President Trump said Monday that talks with Beijing are continuing despite last week’s escalation of the trade war,” reports Fox Business.
“Great respect for the fact that President Xi & his Representatives want ‘calm resolution.’ So impressed that they are willing to come out & state the facts so accurately. This is why he is a great leader & representing a great country. Talks are continuing!” tweeted the President.
Great respect for the fact that President Xi & his Representatives want “calm resolution.” So impressed that they are willing to come out & state the facts so accurately. This is why he is a great leader & representing a great country. Talks are continuing!https://t.co/0sotrd1Mzh
— Donald J. Trump (@realDonaldTrump) August 26, 2019
“News of the possible opening in negotiations came shortly after President Trump threatened to declare a national emergency that would result in American businesses freezing their relationships with China. Trump’s tariff barrage on Friday was a response to China imposing its own retaliatory tariffs on $75 billion in U.S. goods,” reports Fox News.
“China is willing to resolve its trade dispute with the United States through calm negotiations and resolutely opposes the escalation of the conflict,” said Chinese Vice Premier Liu He, China’s top trade negotiator.
U.S. officials have indicated they are ready to come to the table as well. On Sunday, Treasury Secretary Steven Mnuchin told reporters that if “China would agree to a fair and balanced relationship, we would sign that deal in a second,” reports Fox News.
Read the full report here.