October 11, 2019
Equity markets are rallying on Friday over optimism regarding the U.S.-China trade discussions. President Trump is set to meet this afternoon with Chinese Vice Premier Liu He, and that has many thinking some type of truce or at least a pause in the trade dispute could be in the works.
Don’t forget, China bought $1.5 billion worth of U.S. soybeans in August, the most since January 2018 when the trade dispute started. It is likely China could buy more in exchange for a delay in current tariffs set to hit October 15.
“If we’ve learned anything from trade discussions over the past 21 months, it is things can change in a hurry,” explained LPL Financial Senior Market Strategist Ryan Detrick. “But it does appear that both sides are slowly starting to come to the table to find some type of path to resolution.”
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