US-China trade talks: investors hopeful of breakthrough
Negotiators working to avoid escalation in tariffs that could result in full-scale trade war
Investors were hopeful of a breakthrough in talks between the US and China as negotiators worked to prevent an escalation in tit-for-tat tariffs that threaten a full-scale trade war between the world's two largest economies.
Amid rising concerns that President Donald Trump would unilaterally raise tariffs from 10% to 25% on $200bn (153bn) of Chinese goods on Friday, Beijing scrambled to assure Washington that it was sincere in wanting to reach a deal.
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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