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Trump’s ‘small concession’ doesn’t mean the trade war with China is ending, experts say

September 12, 2019 / Yen Nee Lee

The U.S. and China have appeared to dial down their trade fight by announcing some concessions on tariffs — but experts warned that it’s not yet time to pop the champagne. Markets in Asia rose on U.S. President Donald Trump’s tweet that he will delay increasing tariffs on $250 billion of Chinese goods from Oct. 1 to Oct. 15 as “a gesture of good will.” His announcement followed an earlier move by Beijing on Wednesday to exempt 16 types of American products from additional tariffs. But, while such de-escalation in tensions between the two countries is welcomed, it’s still difficult to see both sides reaching any “real resolution” anytime soon, said James McCormack, Fitch’s global head of sovereign ratings.