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Global stocks sink after Trump threatens more China tariffs


Date: 14-11-2019
Subject: Global stocks sink after Trump threatens more China tariffs
Global stocks sank Wednesday after President Donald Trump threatened more tariff hikes on Chinese imports if talks aimed at ending a trade war fail to produce an interim agreement. Market benchmarks in London, Frankfurt, Shanghai and Tokyo declined.

Trump said Tuesday that an agreement on the "Phase 1" deal announced last month "could happen soon." But he warned he was ready to raise tariffs "very substantially" if that fails.

The two sides disagree publicly about whether Washington agreed to roll back some punitive tariffs imposed in the fight over Beijing's trade surplus and technology ambitions. The Chinese government said last week that was settled, but Trump denied that.

Trump's comments "served as a reminder of the challenge that the two sides face," said Jingyi Pan of IG in a report. However, she said, investors saw them as "positioning statements," reducing their impact.

Source: moneycontrol.com

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