Indeed, a definite conclusion of trade talks, even a phase one deal, could do a great deal to alleviate those gnawing emotional concerns about global demand as traders continue to wear demand sensitivities on their sleeve.
The new trade agreement with China may come in handy as Trump's new win amid the so-called "impeachment inquiry" kicked off by some House Democrats in late September.
According to him, one of the conditions of the transaction implies that the parties would not wait 3-4 weeks before signing the agreement and begin procurement immediately.
"From the very beginning of the trade war, farmers have been promised that their patience would be rewarded", Brian Kuehl, co-executive director of Farmers for Free Trade, said in a statement.
"The U.S. side likes an excuse to delay tariffs", Friedrichs said.
"The relationship with China is very good", he said. Suggesting, the US administrations attitude towards China does not appear to have improved significantly.
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We all remember when Mr. Trump went to China in 2017 - red carpets were rolled out, gilt signs embossed with his name were hung and President Xi Jinping became Mr. Trump's new best friend.
Steven Mnuchin said he still hoped a tentative US-China deal agreed last week to suspend fresh tariffs would be formally approved. If China ultimately buys the stated amount of goods, American farmers hit hard by the president's trade wars would benefit significantly.
China wishes Trump to also scrap a planned tariff hike in December as well to the hike scheduled for this week, the dispute added. "By striking this truce, Trump has effectively alleviated much of the pressure on Beijing, meaning that the Chinese leadership won't be in a rush to make any concessions on the real issues anytime soon".
Brent crude LCOc1 futures eased 26 cents at 60.25 dollars, while USA crude CLc1 lost 25 cents to 54.45 dollars a barrel. The Dow Jones has so far been disinterested with events in the Middle East, preferring to focus on U.S. The headlines on Monday seem to be focusing on doubts on Friday's China-US trade agreement.
There are few specifics, and the deal does not roll back the tariffs already imposed on hundreds of billions of dollars in trade between the two dominant economic powers.
Tim Garrett, 63, shares a 5,000-acre farm with his brother in eastern North Dakota, where they grow mostly soybeans and corn. "Instability and uncertainty are increasing", a customs agency spokesman, Li Kuiwen, said at a news conference. But he's "not sure it's coming about". Though US equities rose last week as trade tensions eased, they trimmed gains Friday afternoon when reality set in. "I believe something had to be done". I think the administration is overselling it. The emerging deal between China and the United States, covering agriculture, currency and some aspects of intellectual property protections, would represent the biggest step by the two countries in 15 months to end a tariff tit-for-tat that has whipsawed financial markets and slowed global growth.