Stocks bounce as China blinks on trade

Stocks bounce as China blinks on trade

Investors were unnerved by President Donald Trump's threats of tariffs on an additional $100 billion in Chinese imports as the U.S. president hit out at China's "unfair retaliation" to a prior Trump announcement of $50 billion in tariffs on Chinese goods. Now that China and the US are both "even" in terms of self-inflicted misery, maybe they'll come to their senses and back off, or maybe they'll dig down and continue the trade war.

Republican Senator from Nebraska Ben Sasse said, "Let's absolutely take on Chinese bad behavior, but with a plan that punishes them instead of us".

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 5, 2018.

How has the Chinese government had an edge over the United States?

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China's proposed tariffs on fossil fuel imports from the United States could also see the Middle East gaining a greater share of Chinese trade. "China makes up 66 percent of our total soybean imports across the whole United States".

"Our expectation is that we don't think there will be a trade war; our objective is to continue to have discussions with China".

The stock market has been jittery during the past couple weeks due to concerns about a potential trade war brewing between the United States and China. Trump responded in a tweet saying he was "thankful" for Xi's remarks on tariffs and access for USA automakers, and said both countries would "make great progress together". The United States exported almost $130 billion in goods to China in 2017. The United States now accounts for less than 5% of China's imports of the commonly used plastic, the bank's analysts said, but that number is expected to triple over the next two years if the tariffs aren't imposed. Last week, President Trump announced tariffs on $50bn worth of Chinese goods; Beijing then responded in kind, triggering a second round of tariff barriers.

The next salvo came Tuesday when the Trump administration announced 25% tariffs on $50 billion in Chinese technology products, especially targeting the country's aerospace, information and communications, and robotics sectors. The Dow Jones industrial average fell 572 points Friday, and lost 0.7% of its value last week. If China were to suddenly sell or stop buying these treasuries in retribution, it would likely result in higher interest rates for US government debt and could shock the broader bond market. The continuous recent downward movements in world stock markets, including the ones in the United States and China, show what a nervous atmosphere prevails. "I don't expect there will be a trade war - it could be, but I don't expect it at all", he told CBS' "Face The Nation". Trump said in a tweet on Sunday. The Beijing government can pare back on its purchase of US debt. Furthermore, economic adviser Larry Kudlow, has said that "China is the problem".

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