Monday was a bloodbath for the markets. Wall Street is looking to recover today after the biggest one-day drop we’ve seen since January. AlisonKosik takes a look at how global markets are reacting to the ongoing US-China trade war:
Trump predicted that his meeting with Xi will likely be"very fruitful" and said he believes China wants to reach a deal, even as he vented about China reneging earlier this month on key portions of the deal being negotiated between the two economic powers."We had a deal with China, it was 95% there and then my representatives...they went to China and they were told that things that were fully agreed to, we're not going to get anymore.
Even the President's chief economic adviser, Larry Kudlow, has conceded that consumers will likely bear the costs of the fresh tariffs."Yes, I don't disagree with that," Kudlow said in an interview on Sunday with Fox News, though he insisted that China will"suffer GDP losses" as a result of a diminished export market and shifting US investments."Both sides will pay.
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