While he said in a highly-anticipated speech that a trade deal with China was "close," Trump also threatened to ramp up tariffs even further if no agreement is reached with Beijing.Wall Street produced modest gains for the broad S&P 500 but the Dow Jones Industrial average was flat -- a rare occurrence last seen four years ago.
"Markets often perform better in the expectation phase than after confirmation when the details can get picked apart."European markets ended higher amid reports Trump will avoid imposing tariffs on EU cars, which would spark another round of retaliation. The outgoing president of the European Commission Jean-Claude Juncker last week said he believed the United States would not impose new tariffs on imported European cars in the coming days.