Expert: Trade ceasefire between China and US will stabilize oil market

Baku. 4 December. REPORT.AZ/ The trade cease-fire between the US and China will send optimistic signals to the global markets that will help prevent global economic conditions from worsening, Zhou Yu, director of the research center of international finance at the Shanghai Academy of Social Sciences, said. 

Report informs citing Global Times that he said the months-long trade dispute has already dragged down the global economy, driving down oil prices and disturbing global financial markets.

According to him, 90 days is too short to settle issues such as technology transfer, intellectual property protection and non-tariff barriers.

Earlier, China and US agreed to stop worsening of the bilateral trade contradictions. US stated that in case a solution way is not found within the next three months, the duty of 10% on Chinese products will be increased to up to 25%.