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13th August 2019
Stocks gain as US delays tariffs on Chinese goods

New developments in the US-China trade negotiations have seen the Trump administration agreeing to delay the imposition of 10 per cent tariffs on Chinese imports until December this year. Retailers such as Apple, Microsoft and Amazon have led the way in terms of gains within the S&P 500 index, as the delay will likely prove extremely beneficial to retailers such as these during the holiday shopping season towards the end of the year. Equities in general rallied strongly on the news, having suffered earlier in the month when tensions between the US and China resurfaced, while government debt weakened as investors left the safety of bonds in favour of riskier assets. China’s currency also rallied sharply following the announcement, as investors became more hopeful of an easing in trade tensions.