** Not anticipated by markets, Beijing is also asking that in return for its lifting of the extra tariffs on US agricultural imports that it imposed in tit-for-tat escalations with the US, the US should consider removing equal amounts of tariffs that it imposed on Chinese products. That would be above and beyond a simple ceasefire on the December 15 tariff threats.
Stocks Open Higher on Signs of Progress in U.S.-China Talks
Stocks rose Thursday in early U.S. trading after China said Beijing and Washington agreed to lift some existing tariffs if a deal is struck, signaling that trade talks are progressing.
The Dow Jones Industrial Average index climbed 0.5%, while the broader S&P 500 rose 0.2% and the Nasdaq Composite Index added 0.5%. Earlier, the pan-continental Stoxx Europe 600 gauge had risen 0.2%.
Following negotiations over the last two weeks, China and the U.S. agreed to remove tariffs at the same time and by the same amount when they sign the initial accord, a Chinese Commerce Ministry spokesman said Thursday. The yield on 10-year Treasurys rose to 1.879% from 1.814% on Wednesday.