“These adjustments signal that China is more willing to make progress in the October trade talks, likely toward striking a ‘narrow’ agreement that involves China buying more US goods in exchange for the US suspending further tariff hikes.” US China
However, the goods do not include big-ticket agricultural items that could be crucial to the ultimate success of any agreement between the two sides, whose stand-off is dragging on the global economy.
Both sides imposed fresh tit-for-tat tariffs on September 1 in the latest round of levies, which now cover goods worth hundreds of billions of dollars. In a sign of the pressure being felt by China, the central People’s Bank of China said on Friday it would cut the amount of cash lenders must keep in reserve, allowing for an estimated $126 billion in additional loans to businesses.
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