China, White House and Trade Deal
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The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.
It’s important to understand how quickly we were able to come to an agreement, which reflects that perhaps the differences were not as large as maybe thought.”
Britain's FTSE was 100 flat on Tuesday after a rally fuelled by a U.S.-China trade truce, while fresh data revealed a cooling UK labour market that could influence the Bank of England's future rate decisions.
The US has confirmed it has struck a trade deal with China following crunch talks that took place in Switzerland over the weekend. In a White House press release, Treasury Secretary said the two sides had made "substantial progress" in the "very important trade talks. Full details or the US-China trade deal are expected to be revealed on Monday.
President Donald Trump told reporters Monday at the White House that the arrangement arguably was the most significant development stemming from the trade negotiations.