Recent signs of easing in the trade war between the U.S. and China have emerged. U.S. Treasury Secretary Mnuchin stated that substantial progress is expected in U.S.-China trade negotiations in the coming weeks. Trump also indicated that he would not take a hardline approach towards China and is willing to negotiate with a friendly attitude, and U.S. tariffs on China are expected to decrease significantly. As a result, financial markets reacted strongly, with the renminbi appreciating and Hong Kong stocks, U.S. stocks, and Chinese concept stocks soaring. However, the trade war between the U.S. and China has seen multiple fluctuations in the past, and there remains uncertainty about whether this easing expectation can be fully realized.