Tariff Rollback?- A sign of progress of the trade front

 

• The U.S. and China both said that a phase-one agreement would feature pledges to roll back tariffs on each other’s goods in stages.
• Such a move would pave the way for a de-escalation in the trade war that’s hung over the world economy.
• Still, nothing’s certain, including where to sign any deal, with Iowa and Alaska having been ruled out.
• Separately, a “fully informed” European Commission President Jean-Claude Juncker said European Union carmakers can breathe a sigh of relief, pledging the U.S. won’t impose tariffs on the region’s cars next week as threatened.

 (Source: Bloomberg)