US-China trade pact may not rescue markets

US-China trade pact may not rescue markets
Donald Trump has won some praise from top Democrat Charles Schumer for his stance on tariffs – but investors may be a tougher sell Pic: Getty

Even if Donald Trump closes a deal, which is by no means certain, Fed rates could hamper his hoped-for equities bounce

Donald Trump wants the stock market to celebrate if he strikes a trade deal with China. But investors may struggle to deliver it for him.

The outcome is far less certain than investors have priced in during this year’s equities rally. Instead, the most likely scenario is an accord with few details, or a paucity of specifics on which tariffs will stay and which may go.

Or, as the US secretary of state Michael...

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