This according to 8 Dow Jones news story
According to sources, China does not want to put a specific dollar figure in the details of the agreement.
According to an article in the Wall Street Journal:
- Pres. Trump as said China agreed to buying up to 50 billion in US soybeans, pork and other agricultural products annually. China does not want to put a numerical commitment in the text of the potential agreement
- Beijing wants to avoid cutting a deal that looks one-sided
- They also want to have a way out should trade tensions escalated again
- Both sides are also at odds over when and by how much the US would agree to lift tariffs on Chinese imports
- China has also resisted US demands for strong enforcement mechanism for the deal and curbs on the forced transfer of technology for companies seeking to do business in China
Pres. Trump said yesterday that he would raise tariffs significantly if there was not a deal.
Easy come easy go.
The major indices were all trading at record high levels, but the headline from Wall Street Journal.
The S&P index is now down -1.12 points.
The NASDAQ is trading down -16 points
The Dow is still higher at up 38 points at 27731.
