Stock market markets stagnate as investors are waiting for Bessent’s commercial conversations with China

The stock market markets were flat on Friday as investors are waiting for the start of long -awaited commercial conversations between the United States and China this weekend. The S&P 500 fell 0.07%, the Nasdaq was flat and the Dowry Jones slid 0.3%. The markets closed the stagnant week, falling Monday before recovering losses later than the week.

“I look forward to productive talks, as we work to rebalance the international economic system to better serve the interests of the United States,” said Treasury Secretary, Scott Bessent on Tuesday announced That he would travel to Geneva, Switzerland, to meet with his Chinese counterparts.

In front of the Bessent meeting, President Donald Trump weighed on Friday what he thought would be a right tax on Chinese exports in the United States, “80% rate in China looks good! Until Scott B.”, he published on his social network platform.

This would be a reduction in the current rate of 145% in China that Trump imposed in April, but still a high tax on one of the largest trade parties in the United States. The People’s Republic has retaliated against the United States with a 125% tax on American exports and the trade war for Tate has already affected world trade.

China said on Friday that exports to the United States fell 21% year-on-year in April, and US ports are report Plomet activity. The port of Portland in Oregon, for example, saw a 50% drop in exports since the “liberation day” on April 2, when Trump first unveiled his historically high rate suite.

However, the President has said that his administration is moving forward in commercial agreements. Thursday, he deploy A commercial framework with the United Kingdom. The agreement allows the UK to send 100,000 cars a year to the United States with a 10%rate, with anything above the incorporation of a 25%tax. And steel and aluminum can enter the United States rate. Tim Meyer, Professor of Commercial Law at Duke University, I talked to Bloomberg’s commercial agreement was a “res hamburger”. Detroit automobile manufacturers, including General enginesFord and Estellantis, criticized the white house However, for the agreement, claiming it prioritized the United Kingdom over Mexico and Canada.

“Many commercial offers in the hopper, all good (fantastic!)!” Trump published on Friday in Truth Social.

Friday’s stagnant markets put an end to a resurgence of the market that made stocks in early May. While Trump’s initial rate plans caused the markets to be closed after a cardboard poster explaining the taxes imposed on dozens of countries, the markets have since rejected the levels before the “day of release”.

This story originally presented to Fortune.com

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