More tariffs — 15% on about $160 billion in Chinese exports to the U.S. — are set to kick in on Sunday, as both economies remain locked in negotiations for a phase one trade deal.
The Wall Street Journal reported Tuesday that both countries are taking steps to delay those tariffs set to take place on Sunday.
There will be an "eleventh hour" announcement about a deal on Saturday night, says Kenny Polcari, senior market strategist at Slatestone Wealth. Additional tariffs — 15% on about $160 billion in Chinese exports to the U.S. — are set to kick in on Sunday, as both economies remain locked in negotiations for a "phase one" trade deal. U.S. President Donald Trumpthat the initial deal would be completed before the end of the year. He also said it would address intellectual property and financial services concerns, along with purchases of about $40 billion to $50 billion worth of agricultural products by China.
"There's a lot of ways that they can demonstrate that it's on hold until the phase-one deal is signed," he added.
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