Global stocks rise after Trump tariff extension

Global stocks rise after Trump tariff extension

Trump's constant exhortations for American businesses to move their operations back home, coupled with Chinese President Xi Jinping's calls for "self reliance", have only exacerbated business concerns about a protracted trade war leading to what is sometimes called economic "decoupling" - the world's two biggest economies trying to separate from each other.

Trump tweeted that the two sides had made "substantial progress" on structural issues, including protection of intellectual property and an end to the forced transfer of US technology.

USA and Chinese negotiators met through the weekend as they seek to resolve a trade war that's rattled financial markets. Problem is, we don't have any more details than that.

The tariffs have hurt both countries, increasing the price of Chinese-made televisions and baseball gloves for American consumers, and making American-grown soybeans and pork more expensive in China.

Trump tweeted on Sunday night that progress had been made on "structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues" in the talks in Washington.

The source familiar with the talks played down the apparent tension between the top trade negotiator and the president, saying Trump, a former NY businessman, had viewed MoUs from a real estate perspective, while Lighthizer had done so from a trade perspective. The two also met at the end of talks during Liu's last visit to Washington in late January.

Trump had announced a day earlier, that he would delay a tariff hike on $200 billion of Chinese goods and extend his March 1 deadline for a deal. President Trump now says that the discussion with the Chinese has gone so well, he's delaying this rise in tariffs until they sort out an agreement.

A man and a woman walk past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Tuesday Feb. 26 2019. Most Asian share benchmarks are lower as a rally spurred by the Trump administration's decision to hold

The trade war was started by Trump over claims of unfair trading practices and intellectual property theft by the Chinese. Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement.

"Our members are hopeful that the uncertainty, the loss and the delays in business that have resulted from the trade negotiations and trade frictions will turn out to have been worthwhile in the end", said Mr Tim Stratford, chairman of the chamber. Trump posted in two tweets.

The Trump administration wants China to roll back plans for government-led creation of global leaders in robotics and other technology that its trading partners say violate Beijing's free-trade obligations and some American officials worry might erode US industrial leadership.

FILE PHOTO: Jay Timmons, President and CEO, National Association of Manufacturers, speaks at 2017 SelectUSA Investment Summit in Oxon Hill, Maryland, U.S., June 19, 2017.

USA standards for power generation, manufacturing, fuel economy and emissions are above and beyond anything China puts upon itself. China has retaliated with duties on Dollars 110 billion of U.S. goods.

"We have to get it approved, let's see what happens".

More news: Pakistan returns Indian pilot as violence rages in Kashmir

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