Chinese and American officials have finally resolved the problem that has been looming over traders’ heads for at least a couple of months. Meeting which took place in Washington in the end of last week happened to be fruitful and according to the results trade tensions which will turn into trade war are currently on-hold.

Starting Thursday the members of delegations were trying to find common ground in order to agree in correcting trading deficit between China and USA. If they hadn’t come to any decision, escalation of the conflict would have been approached and that might have undermined the whole economy of the world. With the balance already being offset by growing oil prices, Korean situation and Russian sanctions it is very dangerous to walk around such problem without trying to resolve them is fast as possible which was done by the officials of two countries.

for now it is agreed that the tariffs will be dropped in order for the Trump administration to develop new set of rules for trading relationship between the countries. Chinese Prime Minister LU Kang tols to the press after the negotiations were finalized: “China has never hoped for any tensions between China and the United States, in the trade or other arenas,” 

As soon as the agreement was reached oil prices displayed their support of the decision. Brent and ETI futures jumped to the new heights in years, leaving all the sceptics behind.