Wall Street is showing modest signs of optimism ahead of President Donald Trump’s much-anticipated speech on trade policy.
Just before 9:00 a.m. ET on Tuesday, major benchmark indexes were in the green: Dow futures rose 21 points, or 0.08%, while S&P futures grew a point and a half or 0.05% and Nasdaq futures climbed 10 points, or 0.12%.
Trump is scheduled to take the podium today at the Economic Club of New York, where he is expected to address U.S.-China trade relations amid a tariffs dispute that has weighed on both countries for more than a year and a half.
“You can expect the president to highlight how his policies of lower taxes, deregulation, and fair and reciprocal trade have supported the longest economic recovery in U.S. history with record low unemployment, rising wages and soaring consumer confidence,” said White House spokesperson Judd Deere.
Investor sentiment faded over the weekend following Trump’s statement that he would only sign an agreement if it was the “right deal” for the American people.
“The trade talks with China are moving along, I think, very nicely, and if we make the deal that we want, it will be a great deal,” he told reporters on Saturday at the Joint Base Andrews air base in Maryland, “and if it’s not a great deal, I won’t make it.”
The president also made headlines on Friday when he said that he had not agreed to curtail duties — a day after China said the two countries had reached an agreement to roll back tariffs scheduled to take effect next month. According to the Chinese Commerce Ministry, the “phase one” trade deal is expected to include a resolution to dismiss the 15% duty to be implemented on Dec. 15, affecting hundreds of millions of dollars worth of Chinese consumer goods, including footwear, apparel and accessories.
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