US and China gain mutual understanding as they edge closer to trade deal

The US and China are getting closer to reaching an agreement and ending the trade war. After 3 different meeting with delegations from both side, the two biggest economies in the world look to making some headway.

Both countries have achieved a mutual understanding and are hopeful the agreement they come up with will benefit the whole world, not just the US and China. Balancing in the trade deficit is the main goal of the US and protection on intellectual property is the secondary and the reason for trade tariffs, to begin with.

If the two countries can come to a deal it will bring much relief to the US and Chinese business hurt by the trade war and could bring about a realignment of global trade.

The Chinese economy which is the driving force in the global economy has slowed due to trade tension with the US, this has, in turn, has had an indirect effect on other countries who deal with both markets. Many observers are looking for this trade war to end and for stocks to return to normal.

 

Source: cnbc.com

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