This is a crucial week for global trade | CNN


There’s just one week to go before the United States is scheduled to impose a new round of tariffs on $156 billion of Chinese imports. Meanwhile, both sides are still working toward an elusive “phase one” trade deal that could bring some relief to battered global economies.

President Donald Trump said this week that it might be better to wait until after the 2020 US presidential election to strike a deal with China. That assessment came just a week after he said negotiations were in their “final throes.”

Investors should by now be wise to jawboning from the White House. Yet the consensus is that both countries are in fact moving toward a deal. Beijing offered a concession on Friday that may prove pivotal, pledging to reduce tariffs on US soybeans and pork.

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