Experts hope U.S.,China to reach trade deal soon

Added On July 8, 2019

According to a report on Friday by the U.S. Department of Labor, U.S. economy in June performed slightly better than expected, with 224,000 new jobs created in non-farming sectors.

Unemployment, however, rose mildly to 3.7 percent, as more workers sought to enter the job market, increasing expectations of Washington's solid economic stewardship when the presidential election year approaches.

Peter Johnston, a professor emeritus at Harvard Business School, said that With respect to trade issues specifically, when returning to the negotiation table, more of a problem-solving approach needs to be applied than blaming one another for the current status of talks.

He also noted that There is absolutely room for a major and significant trade agreement if this approach is taken.

Stanley Chao, managing director of U.S. consulting firm All In Consulting, told CNC that Trump probably desperately needs a truce by the end of the year. He'll be full-time on the campaign trail starting in 2020, so he has to wrap this trade dispute soon.

Chao said there is a strong probability that the United States "will at least temporary rescind the remaining tariffs."