President Donald Trump on Tuesday hinted at "important announcements" regarding his administration's high-stakes trade talks with China.
"Very productive conversations going on with China! Watch for some important announcements!" the president tweeted.
TRUMP TWEET
Trump's optimistic tweet came soon after Bloomberg News reported that China's government would consider slashing tariffs on U.S. car imports to 15 percent from 40 percent. Auto stocks jumped on the news in premarket trading. Overall, stocks pointed to a higher open as markets looked to bounce back from last week's rout.
Trump tweeted last week that China had agreed to slash the tariffs, although the Chinese government did not confirm or deny it at the time.
The U.S. and China have re-started trade negotiations after Trump and his Chinese counterpart, Xi Jinping, reached a truce in their nations' escalating trade war. The two leaders spoke during a working dinner at the G-20 summit in Argentina nearly two weeks ago.
As part of the truce, the U.S. and China agreed to a 90-day window to negotiate some significant sticking points between the world's two largest economies.
This is breaking news. Check back for updates.
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