Finance

‘Wimpy’ trade deal will be enough as long as there are no new tariffs

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President Donald Trump is not expected to impose new tariffs on China this weekend, but he may not have much of a trade deal to show either.

That promise, however, should be enough to satisfy the stock market, which was soaring after the president tweeted that he expects a “very big” deal with China and both sides want it. The S&P 500, Dow and Nasdaq were trading at all-time highs Thursday but gave up some of their early morning gains.

Sources told CNBC that the Trump administration had reached an agreement in principle on a phase one trade deal. The sources said the U.S. negotiators offered to cancel the new tariffs that would take effect Sunday and were also willing to cut existing…



Source cnbc.com

US-China trade deal in focus

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