US Plans More China Tariffs if Trump-Xi Meeting Fails


Bloomberg News reported that the Trump administration will put tariffs on the rest of the United States' imports from China if the two nations' presidents don't make substantial progress in easing the trade dispute next month.

Those threats were given new life this week when three unnamed sources were cited by Bloomberg as confirming that the Trump administration would go through with tariffs on the remaining US$260 billion of imports from China if upcoming talks between the two countries' leaders did not go well.

World markets are mixed after U.S. President Donald Trump said he might impose more tariffs on Chinese goods, though he said he was ready to strike a "great deal" with Beijing over trade.

On Monday, the U.S. president said in an interview with American news outlet Fox News that: "I think we will make a great deal with China, and it has to be great because they've drained our country".

Among industrials, Boeing sank 6.6 percent to $335.59.

The price of US crude oil fell 0.8% to $67.04 a barrel in NY. The Shanghai Composite index rebounded 1.2 percent to 2,573.33 and South Korea's Kospi picked up 1.3 percent to 2,021.82.

MSCI's gauge of stocks across the globe gained 1 percent. Technology giants rose and the S&P 500 Index posted its biggest two-day surge since February after Facebook's earnings topped expectations.

USA sending up to 5,200 troops to border with Mexico
The U.S. military has already begun delivering jersey barriers to the southern border in conjunction with the deployment plans. His experience with the caravan had taught him one thing, he said: "The next time, I'm going to need a 'coyote, '" or smuggler.

The final list of goods would largely hit consumer products and capital goods, which the Trump administration has so far spared, and likely would push up prices for many USA businesses and consumers.

The trade spat between Washington and Beijing escalated in April after the United States slapped 25- and 10-percent tariffs on steel and aluminum imports, respectively, from China.

The US dollar pushed higher against the offshore Chinese Yuan and neared the 7.00 level for the first time in almost two years.

US equity futures advanced on Wednesday and European stocks jumped, tracking a rebound across Asia as the worst month for global equities in six years draws to a close. Italy's FTSE MIB index rose 1.9 percent after Standard & Poor's did not downgrade the company's credit rating. Stocks climbed earlier this month after Bolsonaro led the previous round of voting, as investors preferred him to leftist parties.

US crude fell 1.28 percent to $66.18 per barrel and Brent was last at $76.07, down 1.64 percent.

US crude fell 1.06 percent to $66.33 per barrel and Brent was last at $76.30, down 1.34 percent.

Bond prices slipped. The yield on the 10-year Treasury note rose to 3.08% from 3.07%. Silver fell 1.8 percent to $14.44 an ounce.