Investors are a bit confused.
Late last night, President Trump said he would “consider” an interim trade deal with China, even though he would not prefer that. Instead, he wants a full agreement.
“If we’re going to do the deal, let’s get it done,” he told reporters. “A lot of people are talking about it, I see a lot of analysts are saying an interim deal — meaning we’ll do pieces of it, the easy ones first. But there’s no easy or hard. There’s a deal or there’s not a deal. But it’s something we would consider, I guess.”
But here’s where things get a bit nuts.
The President made similar comments on Thursday morning. Then, a White House officials said the U.S. is “absolutely not” considering such a deal. Then, last night, the President said he would be open to it. So, we’re all left wondering what’s going on.
In the end, there’s hope for some kind of deal.
Next week, trade negotiators will meet to continue efforts to salvage a deal, and put an end to this long trade war. Helping a bit, Trump said he would hold off on hiking tariffs on $250 billion worth of Chinese goods for an additional two weeks because China will be celebrating its 70thanniversary.
That decision came after China exempted 16 U.S. products from additional tariffs.
Better, China just sweetened things just moments ago.
They now plan to exclude U.S. farm goods, including soybeans from tariffs, in an effort to cool tensions between the two countries.
To be clear, the President has the door open for a potential interim agreement.