Market Updates: Trump Shifts Focus to Japan After Trade Negotiations with China…
Arslan Butt • 1 min read
At the G20 Summit, the US President Donald Trump reached a ceasefire with Chinese leader Xi Jinping over a trade war between their countries. However, POTUS Trump appears determined to shift his focus toward making a trade deal with Japan next.
- On Friday, the US signed a revised trade agreement with Mexico and Canada on better terms for the United States.
- On Saturday, Trump agreed with Xi to work to resolve issues such as forced technology transfer and intellectual property protection in exchange for delaying new US duties on Chinese imports for the next 90 days.
- During the G-20 meeting, Trump showed concern for a massive trade deficit of the US with Japan. In fact, Trump said, “We hope that we’re going to be balancing it very quickly.”
Is this the beginning of a new trade war? Well, we can’t say much until we have more updates from the US economy on it. But one thing is clear, the Japanese Yen is steady despite the strong bullish trend in gold, which clearly shows the market is taking this news seriously.