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Shawn Donnan: China and US halt additional tariffs to engage in negotiations
While Donald Trump hails a political win in the trade war, China has a different take.
China and the US have agreed to halt additional tariffs and engage in new negotiations, with the goal of reaching an agreement within 90 days.
Senior Writer at Bloomberg Economics Shawn Donnan told Mike Hosking both countries think the other side is hurting more, and both think the other blinked first.
"When you have got the Chinese officials, they quietly point to the Midterm elections here in the US where Donald Trump suffered some losses, lost control of one of the Houses of Congress and the financial markets here haven't been doing well in the last couple of weeks."
He said the move shows that in the short term, Trump is a potentially sensible and rational negotiator.
"In the longer term there is a lot of uncertainty around exactly what they have agreed and whether or not the Chinese and the Americans can close these vast differences they have."
LISTEN ABOVE AS SHAWN DONNAN SPEAKS WITH MIKE HOSKING
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By Newstalk ZBWhile Donald Trump hails a political win in the trade war, China has a different take.
China and the US have agreed to halt additional tariffs and engage in new negotiations, with the goal of reaching an agreement within 90 days.
Senior Writer at Bloomberg Economics Shawn Donnan told Mike Hosking both countries think the other side is hurting more, and both think the other blinked first.
"When you have got the Chinese officials, they quietly point to the Midterm elections here in the US where Donald Trump suffered some losses, lost control of one of the Houses of Congress and the financial markets here haven't been doing well in the last couple of weeks."
He said the move shows that in the short term, Trump is a potentially sensible and rational negotiator.
"In the longer term there is a lot of uncertainty around exactly what they have agreed and whether or not the Chinese and the Americans can close these vast differences they have."
LISTEN ABOVE AS SHAWN DONNAN SPEAKS WITH MIKE HOSKING