Asia markets tested by Trump warning on China

28 November, 2018, 08:59 | Author: Frank Williams
  • This Series 4 will cost serious dollars

"His comments reflect how little progress has been made in trade talks so far and highlights the low probability for any deal to be agreed with China's president Xi [Jinping] when the two presidents meet at this week's Group of 20 [G20] summit", said London Capital Group analyst Jasper Lawler.

USA crude was up 0.1 per cent at US$51.68 a barrel, while Brent futures rose 0.2 per cent to US$60.60.

With investors speculating that all these signs point to weakness in new iPhone sales, the Wall Street Journal reported last week that Apple, in October, cut its production plan for its cheaper iPhone XR model by up to a third.

"If we don't make a deal, then I'm going to put the..."

China aims to persuade the USA not to impose the larger tariffs, but Trump said it was "highly unlikely" he would back down.

"The main issue is how to settle down the trade war", the official said on condition of anonymity due to the sensitive nature of preparatory negotiations.

"Perhaps we can break through in Buenos Aires or not", he said.

The local share market is set to begin the day without much momentum, as trade tensions dominated global markets.

The Black Caviar Apple Watch Series 4 with black
The Black Caviar Apple Watch Series 4 with black

"As you can imagine this is a big deal, this meeting - the stakes are very high", Kudlow said. In 2017, China accounted for 61.6% of electronics imports into the United States, far exceeding South Korea's 4.5%, according to data from trade intelligence tracker PIERS.

"Maybe. Maybe. Depends on what the rate is", Trump said of smartphones and laptop computers to the WSJ. Could they not authorize new phones for sale in the country?

At a regular news briefing in Beijing on Tuesday, Chinese foreign ministry spokesman Geng Shuang reiterated China's hope that both sides could work towards a "positive outcome" from the meeting between the two leaders, citing a "consensus" they reached during a November 1 telephone call.

"I don't want to go overboard, but he's indicated some optimism".

Asked point-blank if he can count on Trump, Poroshenko answered diplomatically: "This is the worldwide obligation of the United States".

As for China, the only "fair deal" would be for it to open the doors to USA competition. The Kremlin firmly rejected the accusations, warning that Russian Federation would be forced to take measures to ensure its own security if the United States terminates the treaty.

China dominates United States electronics imports.

More news: Spain PM threatens Brexit deal over Gibraltar

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