U.S. President Donald Trump's limited trade deal with China removes a major...
SAN FRANCISCO - U.S. President Donald Trump’s limited trade deal with China removes a major hurdle for Apple and other technology stocks that have already surged this year to record highs.
The deal would also see the United States reduce existing tariffs on other goods. China has agreed to boost imports of U.S. energy, pharmaceutical and agricultural products, although Chinese officials offered no details on the amount of U.S. goods Beijing had agreed to buy. “The Street has been laser focused on this additional 15% next round of tariffs and we believe this ultimately signals a green light for tech stocks heading into year end with the impending $160 billion tariff no longer a near-term concern,” Wedbush analyst Dan Ives wrote in a note on Friday.
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