The U.S. and China reaching a deal and dropping the additional tariffs imposed last year would lead investors 'to think that maybe globalization hasn't ended,' said Christopher Wood, CLSA's global equity strategist.
Stock markets globally have to some extent recovered from a sell-off last December and could move higher if a"positive surprise" comes out of the trade deal between China and the U.S., according to financial services company CLSA.
Wood was referring to the additional tariffs that China and the U.S. imposed on each other's products last year when tensions between the two economic giants were escalating. Washington slapped new levies on $250 billion worth of Chinese imports, while Beijing did the same on $110 billion in American goods.
The two countries reaching an agreement and dropping the additional tariffs imposed last year would lead investors"to think that maybe globalization hasn't ended," which would boost sentiment and spur a rally in markets, according to Wood. But that rally would be short-lived if investors began to worry that the U.S. Federal Reserve could raise interest rates again, he said."I think in the context that we have a successful trade deal, the tariffs are dropped, and the U.S.
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