Trump Predicts a "Great Deal" With China as Bilateral Trade Row Persists

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The United States is preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between presidents Donald Trump and Xi Jinping fail to ease the trade war.

The Trump administration has imposed tariffs on $250 billion worth of Chinese imports since July, while Beijing has retaliated with new levies on $110 billion of US goods.

The study notes, "despite the fact that more than 70% of us companies consider the suspension of investment in China and moving some or all production overseas, only half of Chinese companies support this approach", reports UKRINFORM. The sources stressed however that the new tariffs have not yet been finalised. Most of those imports are now being charged a 10 percent tariff, which is set to increase to 25 percent at the end of the year. Previous rounds of U.S. tariffs have taken at least two months to impose once a list of products was announced, allowing for public comments to be aired.

Canada's main stock index reversed course to trade higher on Tuesday, led by gains in industrial stocks.

The Dow Jones Industrial Average slumped 245.39 points, or 1 percent, to 24,442.92.

Technology companies sank again after Bloomberg News reported that the U.S.is planning new tariffs if the two sides don't make progress in trade talks next month. Boeing led declines in the Dow, with a plunge of nearly 6.6 percent.


In an interview with Fox News, US President Trump has underscored that he predicts a "full-blown deal" with China on trade, but that Beijing is not ready for it. The MSCI All-Country World Index has dropped more than 8 percent in October, poised to post the worst monthly performance since May 2012.

A spokeswoman for the US Trade Representative's office referred Reuters to Sanders' statement, while US Commerce Department officials did not immediately respond to requests for comment. Trade-sensitive industrial shares rose almost 1.2 per cent in mid-morning trading.

The Stoxx Europe 600 Index surged 1.3 percent to the highest in a week. Brent crude, used to price global oils, lost $1.14 to $76.20 per barrel.

The yield on the 10-year Treasury note rose to 3.08 percent from 3.07 percent.The price of US crude oil dropped 0.8 percent to $67.04 per barrel in NY while Brent crude, used to price worldwide oils, lost 0.4 percent to $77.34 per barrel in London.Wholesale gasoline added 0.5 percent to $1.82 a gallon and heating oil slid 0.8 percent to $2.28 a gallon.

ENERGY: Benchmark U.S. crude shed 71 cents to $66.33 per barrel in electronic trading on the New York Mercantile Exchange.

CURRENCIES: The dollar strengthened to 112.95 yen from 112.37 yen late Monday.

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