The market responded positively to trade talk optimism Wednesday, Feb. 13.
TheStreet's Joseph Woelfel wrote:
Stocks were higher on Wednesday, Feb. 13, amid optimism that the-self imposed deadline for a trade deal between the U.S. and China could be extended if the two sides make progress in reaching an agreement.
Donald Trump raised the prospect of an extension to the March 2 deadline, when tariffs on $200 billion worth of China-made goods could increase to 25% from 10%.
"If we're close to a deal where we think we can make a real deal and it's going to get done, I could see myself letting that slide for a little while," Trump said. "But generally speaking, I'm not inclined to do that ... we're doing very well over in China."
The modestly softer tone, which came ahead of key talks between Treasury Secretary Steven Mnuchin, Trade Representative Robert Lighthizer and China Vice Premier Liu He on Thursday and Friday in Beijing, suggested the two sides see some progress on key issues such as alleged intellectual property theft forced technology transfers that have been held as sticking points to a comprehensive agreement by officials in Washington.
Here's what Jim Cramer thinks about the trade negotiations and what investors should be cautious about news around the trade talks.