Varney: The Market, Economy and Americans Wanted a Cease Fire with China on Tariffs and That’s What We’ve Got

RUSH EXCERPT:

VARNEY: “So in the initial reaction it seems to me the markets are going to say wait a second, they have a pause here and that’s good but there’s a lot of work to be done. I’m not going to forecast what the stack market does on Monday morning. I think it will be positive. The market and the economy and Americans wanted a cease fire and a truce and that’s what we’ve got. After the dinner on Saturday night there’s an agreement whereby we do not impose these much higher tariffs on January 1st. They agree to buy a lot of new stuff from us, manufacturing and farm products in particular. Here’s the problem. You’ve got 90 days and this was the deadline set by president Trump. You’ve got 90 days to negotiate and get a deal on much more difficult topics, namely China’s continuing theft of our intellectual property plus their forced acquisition, forced takeover of America’s superior technology. Now if they don’t have a deal in 90 days, the president says, those 25% major tariffs, they’re back on again. So he’s maintaining a very hard line in a very difficult situation to come to a final agreement.”