Chinese reversal prompts Trump to impose new tariff hike as markets fall

China backtracked on substantial commitments it had made during trade talks with the United States, prompting President Donald Trump to impose additional tariffs on Chinese goods slated to go into effect on Friday, top U.S. trade officials said on Monday. Read More @ https://www.reuters.com/article/us-usa-trade-china/chinese-reversal-prompts-trump-to-impose-new-tariff-hike-as-markets-fall-idUSKCN1SC0MF?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

WHAT IS THE PSEI CHART SAYING?

U.S. Futures, Yuan Fall as Tariffs to Go Ahead: Markets Wrap

U.S. futures declined and Asian stocks are set to fall after President Donald Trump’s top trade negotiator said the U.S. plans to raise tariffs on Chinese goods on Friday. The Chinese yuan dropped. U.S. stocks had pared losses from a sell-off sparked by Trump’s threat to escalate the trade war, with investors taking solace from news that China will still attend talks this week. But after the U.S. markets closed, U.S. Trade Representative Robert Lighthizer confirmed the planned tariff increase, accusing Beijing of backpedaling on commitments it made during negotiations. Read More @ https://www.bloomberg.com//news/articles/2019-05-06/u-s-futures-yuan-fall-as-tariffs-to-go-ahead-markets-wrap?srnd=markets-vp

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