The United States and China have postponed a trade war for 90 days.
The main negotiations of the G-20. US-China top-level trade negotiations took place.
Trump and Xi Jing Ping traded for 2.5 hours.
The negotiations were difficult. This is evidenced by at least the fact that it was not announced that the parties had agreed on everything.
So far, an agreement has been reached that there will be no new duties against Chinese goods within 90 days. At this time, there should be US-China trade negotiations.
Let me remind you that earlier, Trump threatened to increase the duties he had previously imposed on $ 200 billion of goods from China, up to 25% from the current 10%.
At the same time, some US companies are already experiencing difficulties due to the rising cost of goods and components that they produce in China.
Trump responds to business complaints simply: transfer production to the US - or accept high duties.
China promises Trump to significantly increase the volume of purchases of goods from the United States. It is a huge imbalance in US-China trade that caused the United States' duties imposed by Trump.
The news is positive for the markets. The growth of the euro and the pound on Monday morning is possible.
The material has been provided by InstaForex Company - www.instaforex.com