Source: Bloomberg

“Commerce Secretary Wilbur Ross downplayed expectations for an end to the U.S.-China trade war when both sides meet in Washington next week, saying the world’s two largest economies are a long way from resolving their differences. ‘We’re miles and miles from getting a resolution,’ he said in an interview on CNBC on Thursday. ‘Trade is very complicated. There are lots and lots of issues.’ The Dow Jones and S&P 500 Index were lower in early trading after the secretary’s remarks. ‘People shouldn’t think that the events of next week are going to be the solution to all of the issues between the United States and China. It’s too complicated a topic,’ Ross said….His comments come with just over five weeks to go before a deadline to conclude a deal. If that doesn’t happen, the Trump administration has threatened to raise the tariff rate on $200 billion in Chinese good to 25 percent from 10 percent.”

 

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