As Trump’s planned trade war with China is ‘on hold’
Breaking the 7,800-barrier, the FTSE 100 index hit an all time high this morning after gaining 35 points to 7814 points for the first time ever.
The FTSE 250 is also up 53.85 points at 21,043.62.
The development comes just a day after the US Treasury secretary Steven Mnuchin announced that Washington had halted plans to impose tariffs on up to $150bn of imports. “We’re putting the trade war on hold,” Mnuchin said in an interview yesterday.
Talking about the markets, Tai Hui, chief market strategist for Asia Pacific, JPMorgan Asset Management said: “This is unlikely to be the end of tension between the two countries . . . It’s like a back pain that never goes away. It was a shock in the first instance it happened, but then life goes on as the most acute symptoms are addressed. The good news is that markets should learn to live with it and consider its impact more rationally.”