US-China trade talks to resume in Washington
Former Trump Campaign Trade and Jobs Advisor Curtis Ellis says this week’s meeting on trade will be China’s last chance to show the Trump administration that they are serious about making a deal.
Chinese exports dropped the most in three years, while imports fell for a third straight month.
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It is more evidence of a further slowdown in the economy that is hammering equity markets.
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Dow Jones futures were down by 0.5 percent. The S&P 500 dropped 0.5 percent and the Nasdaq Composite was off 0.6 percent.
February exports fell 20.7 percent from a year earlier, the largest decline since February 2016, customs data showed. Economists polled by Reuters had expected a 4.8 percent drop after January’s unexpected 9.1 percent jump.
It is another blow to global markets which fell Thursday after the European Central Bank slashed growth forecasts for the region.
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Chinese stocks sank over 4 percent on Friday, in their worst day in five months.
China’s Shanghai Composite fell 4.4 percent, Hong Kong’s hang Seng lost 2 percent and Japan’s Nikkei lost 1.5 percent.
Stocks have been volatile, reacting to any news concerning a possible trade deal between the U.S. and China.
Ngeotiators have been trying to complete a deal so that President trump and china’s leader Xi jinping can meet to sign it
Trump postponed a sharp U.S. tariff hike slated for early March as the talks progressed, but both Washington and Beijing have kept previous duties in place.
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White House economic adviser Larry Kudlow has told FOX News “there is hope that perhaps by the end of this month or early April the two leaders will get together and finalize an agreement.” But Kudlow has said nothing is written in cement.
There is no official date. However, FOX News was told that a date has been identified for when a meeting could happen.
FOX Business’ Blake Burman contributed to this article.
