Wall Street falls ahead of Trump announcement on US-China trade war

No deals ‘at gunpoint’ China mulls dropping trade talks slapping US firms with sanctions – report

Reuters

President Donald Trump said he'll make an announcement on China trade after US financial markets close Monday.

The consequences of a simmering global trade dispute have been "almost unnoticeable" for United States consumers, Mr Trump claimed, arguing that steep import duties have allowed his administration to forge a "very strong bargaining position".

Mr Trump has homed in on China as he seeks to rebalance America's trade relations, introducing levies on products from the country worth $50 billion and claiming he is prepared...

On negotiations with China, Mr Kudlow said the US Treasury Secretary, Steve Mnuchin, was in touch and negotiating with Chinese officials.

"An escalating trade conflict serves no one's interests", Geng said.

In early morning tweets, Trump said imposing tariffs strengthened the United States' bargaining position and that so far any cost increases on goods had been "almost unnoticeable". American officials say those violate Beijing's market-opening commitments and worry they might erode US industrial leadership.

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Cimatu said army troops and police would be deployed to enforce the ban, which covers about 10,000 small miners in Itogon town. All high-speed train services and some normal-speed rail services have been suspended in Guangdong and Hainan provinces.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., September 12, 2018.

Lou is chairman of the National Council for Social Security Fund.

"We are looking forward to a more attractive counter-attack and will keep increasing the pain felt by the USA", the Chinese-language column said.

Last week, the American Chambers of Commerce in China and in Shanghai reported 52.1 percent of more than 430 companies that responded to a survey said Chinese authorities are subjecting them to "qualitative measures" including slower customs clearance and increased inspections and bureaucratic procedures.

The person who attended the event and is familiar with the White House's thinking said such a move would likely attract sharp retaliation from Washington, which has studied its own limits on exporting key technologies to China.

China's Foreign Ministry said it welcomed the invitation, but Trump later raised questions about it, saying on Twitter that he was under no pressure to make a deal with Beijing and that the United States "will soon be taking in Billions in Tariffs & making products at home".

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Economists at UBS Group AG say even a 10 percent tariff would slow the USA economy in the fourth quarter by enough to stop the Federal Reserve hiking interest rates again in December, Bloomberg reported.

The upcoming tariffs will be on a list of items that included internet technology products and other electronics, printed circuit boards and consumer goods, including Chinese seafood, furniture and lighting products, tires, chemicals, plastics, bicycles and auto seats for babies, Reuters explained.

Trump didn't otherwise elaborate on the announcement, which he described after complaining about the US trade deficit with China.

The report quoted one senior Chinese official saying the country would not negotiate "with a gun pointed to its head".

The U.S. dollar's weakening is a good sign for global markets, especially in emerging markets where the strong dollar has been a cause for concern, Nuveen's Nick said.

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