The stock markets were flat on Friday when investors await the start of the highly expected trade talks between the USA and China this weekend. The S&P 500 fell by 0.07% Nasdaq Was flat and that Dow Jones slipped by 0.3%. The markets closed the week and dived on Monday before regaining losses later a week.
“I am looking forward to productive discussions while we are working on exposing the international economic system to better serve the interests of the United States,” said finance Minister Scott Bessent on Tuesday when he said announced that he would travel to Geneva, Switzerland, to meet his Chinese colleagues.
President Donald Trump burdened a fair tax on Chinese exports to the United States on Friday before the meeting of better.
This would be a reduction in the current tariff rate of 145% for China, which Trump imposed in April, but still a high tax on one of the largest trading partners in the United States. The People’s Republic has returned to US exports against the United States with a tax of 125%, and the Tit-for trade war has already had an impact on world trade.
China said on Friday that exports to the USA in April fell by 21% compared to the previous year and the US ports were reporting Fall activity. For example, the port of Portland in Oregon has recorded export exports by 50%since April 2, when Trump unveiled his suite of historically high tariffs for the first time.
Nevertheless, the president has announced that his administration is making progress in trade agreements. On Thursday unveiled A trade frame with the United Kingdom. With the deal, Great Britain can send 100,000 cars to the United States with a tariff of 10% per year, with a tax of 25%. And steel and aluminum can freely enter the US tariff. Tim Meyer, professor of commercial law at Duke University, told Bloomberg The trade agreement was a “Wirelyburger”. Detroit’s car manufacturers, including General MotorsFord and SternantisPresent criticized the white house However, it priorified for the deal in Great Britain ahead of Mexico and Canada.
“Many trade transactions in The Hopper, all the best (great!)!” Trump posted the social of truth on Friday.
The stagnant markets on Friday ended a market life that defeated shares in early May. While Trump’s initial tariffs prompted the tank to achieve a cardboard poster in which taxations on dozens of countries have been imposed, the markets have recovered to the “day of liberation” since then.
This story was originally on Fortune.com