Bank holiday + sick kids, so no full econo-thread today – sorry!
This is the big story:
“Stock markets in China and Europe have been hit after US President Donald Trump threatened new tariffs on China, putting a trade deal in doubt.
“He said on Twitter the US would more than double tariffs on $200bn (£152bn) of Chinese goods on Friday and would introduce fresh tariffs.
“Recent comments had suggested both sides were nearing a trade deal.
“A Chinese delegation is preparing to travel to Washington for negotiations aimed at ending the trade war.
“It is not clear whether Beijing’s top trade negotiator Vice-Premier Liu He will be part of those negotiations that are due to resume on Wednesday.
“”We are currently working on understanding the situation,” foreign ministry spokesman Geng Shuang said during a regular news briefing, according to news agency AFP.
“Earlier, US media reported that Beijing was considering cancelling the talks. Reports said the Chinese were due to send a 100-person delegation to the negotiations.”
“In China, Hong Kong’s Hang Seng index closed 2.9% lower, while the Shanghai Composite tumbled 5.6%.
“European stock markets fell in early trading. Particularly hard hit were the makers of cars, car parts and steel.
“US stock futures pointed to a lower open on Wall Street. Markets in London are closed for a bank holiday.”
https://www.bbc.co.uk/news/business-48173020
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