Home Economy Trump might claim China tariff victory – but this is Capitulation Day | Heather Stewart
Trump might claim China tariff victory – but this is Capitulation Day | Heather Stewart
The president’s retreat suggests he might negotiate elsewhere, but leaves corrosive uncertainty in its wake
Donald Trump will inevitably claim Monday’s temporary truce in the US-China trade war as a victory, but financial markets seem to have read it for what it is – a capitulation.
Stocks were up and bond yields were higher after the US treasury secretary Scott Bessent’s early morning press conference in Geneva, where he has been holding talks with China.
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