- The Washington Times - Friday, October 11, 2019

Wall Street rallied Friday after reports of a breakthrough in U.S.-China trade talks.

The Dow Jones Industrial Average had surged more than 430 points or 1.65% in midday trading in anticipation of a truce in the trade war between the world’s two largest economies.

President Trump signaled progress in the trade talks ahead of his meeting scheduled for Friday with Chinese Vice Premier Liu He at the White House.

“Good things are happening at China Trade Talk Meeting. Warmer feelings than in recent past, more like the Old Days. I will be meeting with the Vice Premier today. All would like to see something significant happen!” Mr. Trump tweeted.

The partial deal struck by trade negotiators is expected to include agricultural concessions by China and tariff relief from the U.S., Bloomberg News reported.

Treasury Secretary Steven T. Mnuchin refused to divulge the status of trade talks when asked by reporters ahead of the president’s meeting with the vice premier. But Mr. Mnuchin, who made millions as an investment banker, joked that “the stock market is always right.”

Mr. Trump engaged China in fierce trade negotiations, slapping tariffs on billions of dollars of Chinese goods to force Beijing to end what unfair trade practices and the theft of U.S. intellectual property.

The trade talks broke down in July and resumed this month.

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