China's Commerce Ministry said the two sides will hold high-level negotiations in Washington early next month, while the U.S. side confirmed a sit-down "in the coming weeks." Preliminary talks are expected to be in mid-September, the Commerce Ministry said following a phone call Wednesday with China's Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin.
Jim Cramer broke down what that means for the market.
"It's still a China market. Now I think that's a false construct, but any, and the reason is, is because as I've been saying, you have talks, talks fail, so market rallies, market goes down, tariffs get put on, market goes down again, tariffs don't seem to matter that much, market goes up. Notion that there'll be talks again, market goes up. So we've been rinsing and repeating the same story."
Watch the video above to hear Jim's advice for investors in this market.
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