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Global markets are surging after reports Trump is ready to back down in his trade war with China

November 2, 2018

Stocks around the world are rallying sharply on Friday after reports of a potential trade breakthrough between the United States and China was a catalyst to counter the brutal sell-off which characterised markets in October.

According to Bloomberg, US President Donald Trump has asked key officials to begin drafting potential terms of a trade agreement with China, saying Trump is interested in reaching an agreement on trade with Chinese President Xi Jinping at the G20 summit in Argentina at the end of the month.

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