US & China Trade Talks
G20 Update - The news we have all been waiting for in the scrap metal industry. An agreement in both nations reaching an agreement. Albeit a temporary one. Any story at the moment is good news. A 90-day cease-fire to the so-called 'Trade War' which is os going to boost scrap prices over the next three months and we have been seeing evidence of that over the last couple of days.
Trump was planning on further raises to tariffs but during the meeting between the two world giants agreed to hold off on plans to put additional tariffs on $200 million on Chinese goods.
The best part of the deal and the bit that is going to boost prices in the scrap metal market is the Chinese government agreeing to buy a very substantial amount of products from the United States. No idea on actual quantity was given, but I can't imagine Mr. Trump giving over too lightly on that side.
The video below was taken from Time.com and shows excerpts from the meeting and the White House correspondents.