U.S. stock index futures rose more than a percent on Tuesday after Chinese President Xi Jinping promised to cut import tariffs, soothing investor concerns about rising U.S.-China trade tensions.
China has imposed tariffs of up to 25% on 128 US imports, including pork and wine, after US President Donald Trump raised duties on foreign steel and aluminium imports in March.
World stocks came off six-week lows and U.S. stock futures jumped on Monday on optimism that the United States and China are set to begin negotiations on trade, easing fears about a trade war between the world’s two largest economies.
China urged the United States on Friday to “pull back from the brink” as President Donald Trump’s plans for tariffs on up to $60 billion in Chinese goods moved the world’s two largest economies closer to a trade war.
World Bank: The world’s seventh-largest economy needs to accelerate growth to create jobs for a million young people joining the labor force every month.
Companies in Britain and the European Union face an extra 58 billion pounds in annual costs if there is a no-deal Brexit
The TPP will go into force 60 days after at least 6 member countries complete domestic procedures, such as gaining parliamentary approval.