U.S. Readies New Tariffs as Trump Says He’ll Meet China’s Xi

  • President Donald Trump said that he feels talks with China “are going to be very successful” as he confirmed he will meet President Xi Jinping at next month’s G-20 summit.
  • His comments came after the U.S. Trade Representative’s office released the list of $300Bn of Chinese goods that are next in line for a 25% tariff while Beijing announced its own trade measures.
  • Trump may be coming under pressure from inside the Republican party as the standoff is increasing pain for American farmers, among the president’s most loyal supporters.
  • Markets are recovering some of the worst of yesterday’s sell-off as hopes of a deal linger.

(Source: Bloomberg)