Why slowing economies could prod US and China to reach deal
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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