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Why slowing economies could prod US and China to reach deal

9 months 2 weeks 2 days ago Wednesday, January 02 2019 Jan 2, 2019 January 02, 2019 9:59 AM January 02, 2019 in News
Source: Associated Press

WASHINGTON (AP) - The Trump administration and China are facing growing pressure to blink in their six-month stare-down over trade because of jittery markets and portents of economic weakness.

The import taxes the two sides have imposed on hundreds of billions of each other's goods - and the threat of more to come - have heightened anxiety on each side of the Pacific. The longer their trade war lasts, the longer companies and consumers will feel the pain of higher-priced imports and exports.

Their conflict is occurring against the backdrop of a slowdown in China and an expected U.S. slump that a prolonged trade war could worsen - a fear that's weighing on financial markets.

Yet those very pressures, analysts say, give the two countries a stronger incentive to make peace.

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