>> The US and China may already be hashing out their trade issues, and on Monday global markets breathed a sigh of relief. That's after a Wall Street Journal report that Washington gave Beijing a to-do list last week on how to work out their differences. A US treasury official also told Reuters the two sides are quietly discussing the trade gap, and Beijing said that's it's willing to hold formal talks.
All of that seemed to ease investor anxiety that the two sides were sliding into a trade war. US stock futures were higher on Monday, pulling global trade upward after a gloomy day in Asia. Futures for the S&P 500 jumped up 1% and Japan's Nikkei flipped back to positive after hitting a six month low.
Last week, both the White House and Beijing seemed to be ratcheting up the tension. President Trump said he planned to hit China with tariffs of up to $60 billion, and Beijing hit back with warning shot of 3 billion. That was on top of Trump's import taxes on steel and aluminum.
The Journal's Monday report says that America is asking China for a number of demands. That would include China cutting protections that tax imported US cars and buying more micro chips. The paper also said Treasury Secretary Steve Mnuchin is considering a trip to Beijing to sit for face to face talks.