US markets rally as Treasury secretary says China trade war is ‘unsustainable’

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Wall Street’s shares have been collected and oil prices after Tuesday’s jump when the Secretary of the US Treasury said that the trade war with China was “unstable.”

Scott Best told investors that JPMorgan, who expected the two countries to reach a deal at some point, according to his comments.

The Treasury Secretary said that the high tariffs The United States and China have been imposed on each other’s imports, which have been prioritized and added that the status quo is “unstable.” Beynents also said that President Donald Trump was not trying to break down from China.

Trump slapped 145% of goods from China, and Beijing responded to responding with current tariffs that Total 125 percentA number

In the previous session, the markets were higher after the sale, the more raised by the comments of Besent, which first reported by Bloomberg.

The Blue-Chip S & P 500 rose 2.6 percent in New York, while Tech-Heavy Nasdaq Composite increased by 3.1 percent. The two indicators fell sharply on Monday From fears that the US President can set fire to Federal Reserve Chair Jay Powell.

Brent Crude, the benchmark, rose by 2.6 percent to $ 67.98, hoping that it is possible to avoid the worst aspects of the World Trade War. Gold, safe haven assets, which hit 3500 dollars earlier Tuesday, has retreated 1 percent up to $ 3,388.

At the beginning of the day, John Paulson, a billionaire hedging fund manager and Trump supporter, gave $ 1 billion to $ 1 billion next to the Alaska’s Golden Program.

“The total level of uncertainty, both economically and politically, is the price of gold,” said Poleson to the Financial Times.

“I think this trend will continue that gold will become an alternative reserve currency,” he added. “And this is not only for central banks, but also for private individuals who do not want to confront confrontation, currency control or impairment.”

Although the pole expressed optimism that a transaction will be achieved at some point, he warned that there were no diplomatic talks between the two countries to end the trade war.

In his words, two familiar people said that there is no sign that Beijing and Washington had a place to find a solution, and that the markets were reading his remarks.

A man said that it is unclear if Trump agreed with his treasury secretary. The White House and the Treasury did not answer the interpretation inquiries.

Asked how the press secretary Caroline Levit said that Trump believes that the United States is “doing very well on a possible trade deal with China.”

But people familiar with the situation in Washington and Beijing stressed that there were no talks between the capital to solve the dispute. China has found out the White House that it views its approach to tariffs as a violence and does not communicate.

“These negotiations continue to keep markets together to keep all messages together. “Batetent declares an obvious fact.”