Yesterday, President Trump surprised the markets, yet again, by announcing that the new batch of tariffs on Chinese goods will be postponed to mid-December for a number of products because of the end-of-the-year shopping season. He also stated that China is about to do something ‘dramatic’ regarding trade. Whether that will be a big concession remains to be seen, but the Chinese declared they are still intent on holding September trade negotiations with the US. The markets got a shot in the arm and material sector stocks, which had taken a particular pounding, rebounded strongly.
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