Trade war, a last long unsettled dispute between the U.S., especially the President Donald Trump, and China, is widely expected to come to an end soon since two countries have shown quite positive signs as of late.
The two leaders, Donald Trump and Chinese President Xi Jinping, are expected to meet at the end of March to “seal the deal” which could help boosting world economy that has entered the slowdown phase.
No body gain from a year-long dispute. China reported a decrease of 20.7% from an export in February, posted a worst decline in three years while imports fell 5.2% from a year earlier. The U.S. is no better than China.
An evident proof is the decline of Apple’s sales. The company reported a plummet of 34% of sales in December and 20% in November 2018. Earlier this year, Tim Cook, CEO of Apple Inc., told CNBC that Apple products have not been targeted by the Chinese government, though some consumers may have elected not to buy an iPhone or other Apple devices due to the firm being an American brand.
Meanwhile, the rise of Apple’s rival, Huawei, has already conquered the majority of users in China and the report on second quarter of 2018 shown that the number of Huawei’s sales were ahead of Apple. Furthermore, Huawei also announces that it plans to overtake Apple’s yearly sales in 2019.
The aforementioned is just an example showing that the longer this trade war lasts, the worse global economy gets, which is why people, especially investors, are anticipated that the chaos would come to an end soon.
However, Bloomberg has sited its source which stated that the two leaders would not meet in March, but possibly in late April at the earliest. S&P 500 and Nasdaq edged lower while Dow Jones closed the day with a slight gain. On the other hand, the dollar gained as investors turn to find a safe haven instead and VIX Index rose by 0.67%.
The long awaited outcome would have to defer for at least a month. This is just too much to bear.
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