The U.S. agreed to postpone an increase in tariffs from 25% to 30% on at least $250 billion of Chinese goods, which had been scheduled for Tuesday. President Donald Trump said that the first phase of a trade deal will be drawn up within the next three weeks, and will see China purchasing between $40 billion and $50 billion of U.S. agricultural products.
However, customs data showed that China's import and export figures were worse than expected in September, with exports falling 3.2% on the year in U.S. dollar terms, while imports declined 8.5%, according to Reuters.
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Next recession: Why it's still likely despite US-China trade agreement - Business InsiderInvestors are underestimating the severity of the US-China conflict and how it might lead to a recession, according to Lazard Asset Management. Life is full of cycles, day and night, love and hate, birth and death, sunny and cloudy, ups and downs, summer and winter, wet and dry, win and loose, now if we can only teach that to all the educated idiots, what a wonderful world it would be! ENJOY!
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