Wall Street hits high as Trump raises hopes of US-China trade deal
by Larry Elliott Economics editor from Economics | The Guardian on (#4WFNM)
Expectation is Washington may scrap plans to increase tariffs on fresh range of Chinese goods
Share prices on Wall Street have surged to record levels after Donald Trump boosted hopes of an imminent trade deal with China.
The US president raised expectations that Washington was poised to abandon plans to increase tariffs on a fresh range of Chinese goods this weekend when he tweeted: "Getting VERY close to a BIG DEAL with China. They want it, and so do we."
The roots of the dispute come from US president Donald Trump's "America first" project to protect the US' position as the world's leading economy, while encouraging businesses to hire more workers in the US and to manufacture their products there.
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