Tue. Jan 26th, 2021

Global shares push higher on hopes of trade deal and China stimulus – business live

10.50am GMT

Goldman Sachs is predicting that the drag on the global economy from the trade war between the US and China – the world’s two biggest economies – will gradually fade next year.

Jan Hatzius and other economists at the US investment bank wrote in a note yesterday that the progress towards a partial trade deal and expectations of an extended truce should benefit the world economy – assuming there is no further escalation of tariffs. The US is due to impose more tariffs on Chinese goods on 15 December, if an agreement is not struck by then.

10.38am GMT

Traders are buying back into the market despite a lack of progress in the US-China trade talks – but people are clearly hoping for a deal sometime soon.

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