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Wall Street is on the decline due to looming trade concerns

2018-12-04 02:50 pm | Resource: News | No Views : 303

Markets opened in the United States on Tuesday as investors focused on new developments aimed at resolving the long-standing trade dispute between Beijing and Washington.

Larry Cudlow, chief economic adviser to US President Donald Trump, said the final agreement on car tariffs remained unresolved. Earlier, Trade Minister Wilber Ross said Trump had received very good confirmation from his Chinese counterpart, Xi Jinping, on trade during their meeting in Argentina.

Kudlo: Chinese car tariff agreement is not yet concluded

The chief economic adviser to US President Donald Trump Larry Kodlo Fox Business said on Tuesday that the United States and China still have not reached a final agreement on car tariffs, but still confident of the deal that will completely remove tariffs on US cars coming to China "is coming "He said. He also noted that China has an intention to reach a trade agreement with the United States.

Kodlu's comments come a day later and said that China will "immediately" publicly operate concessions he committed during the talks with Trump at the G20 in Argentina over the weekend, and added that Beijing roll back completely tariffs on car imports from the United States. At the same time, Trump claimed that Beijing agreed to "reduce and remove" tariffs on US car imports.

Over the weekend, Trump and his Chinese counterpart Xi Jinping reached an agreement to stop the ongoing trade war between the two countries for 90 days and delay the imposition of additional tariffs.

Crude oil prices almost 2% higher with higher output

OPEC production agreement This week, oil prices continue to grow in the near future. Market observers have been involved in cartel officials, including statements by Saudi Energy Minister Khaled al-Faleh and his Iraqi counterpart Thamer Ghadhban on the subject. The Organization is scheduled to decide on production cuts on December 6 in Vienna.

At the same time, the decline in Canadian oil supply has boosted incentives for investment in the oil market. However, the media said earlier that OPEC was ready to postpone the upper limit of production if Russia did not cut production.
  • WTI crude for January delivery jumped 1.70%, changing hands for $ 53.85 per barrel at 13:35 CET
  • Brent crude, the world's benchmark, rose in February by adding 2.03% to trade at $ 62.95 a barrel at 01:38 CET.

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