Trump says US on verge of China trade deal

US President Donald Trump tweets that the United States is on the verge of easing the China trade war, days before new tariffs are due to kick in between the world’s two largest economies.

“Getting VERY close to a BIG DEAL with China. They want it, and so do we!” Trump tweets in a markedly more optimistic tone, after months of false dawns in a trade war roiling world markets.

The news triggers stock market gains and there is a new jump on Wall Street after a Bloomberg news report that a deal had been struck and was only waiting Trump’s approval. An announcement could come as early as Thursday, Bloomberg reports.

Trump’s flagging of an imminent breakthrough comes ahead of new tariffs planned to take effect Sunday and also just as he is almost sure to become only the third US president to be impeached.

— AFP