Asian stocks rally as weaker yuan eases fear of more tariffs

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"And I have United States dollars 267 billion waiting to go if we can't make a deal", Trump said.

Trump said in the interview he would like to make a deal now, but that China was not ready.

According to the report, no decisions had been made but preparations for a new list of US tariffs were being made in case the Trump-Xi meeting does not yield progress in resolving the US-China disputes.

USDCNH has weakened ever since trade wars started earlier this year, with the weaker CNH negating some of the effects of US-imposed tariffs. The report cited unnamed sources who said the tariffs could cover imports from China that have not already been hit by tariffs, amounting to up to $257 billion worth of imports.

China has retaliated with its own tariffs against USA goods, but continues to maintain that there can be no winners in a trade war.

Both Trump and Xi are expected to attend next month's G20 summit in Buenos Aires, where they could meet. Stocks climbed earlier this month after Bolsonaro led the previous round of voting, as investors preferred him to leftist parties.

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The Dow is down 276.30 points, or 1.1 percent. Futures for the Dow were up 0.4 percent and the broader S&P 500 futures added 0.5 percent. "And if they don't give us any information, it's just hard to see how that becomes fruitful".

"The ordinary and great people of China and the United States are there doing their part", he said, "showing their goodwill, wisdom and magnanimity, and paving the path forward for our relations". "Then each side should make its own proposal". But US officials have given no indication that they are prepared to do that.

On September 24, Trump's fresh tariffs on $200 billion worth of Chinese goods and services entered force, with Washington warning that it could slap similar tariffs on another $267 billion of Chinese goods and services in the future. So China probably has good reason to feel wary. IBM fell 4.1 percent to $119.64.The prospect of reduced barriers to trade helped auto makers on Monday.

But far more is involved.

The euro drifted down as inflation accelerated in October and underlying price pressures increased, handing policy makers a headache after growth data disappointed. It enjoys any legitimacy in the eyes of the working masses only to the extent that it continues the expansion of the economy.

Unfortunately, unilateral demands that sabotage the likelihood of an agreement will translate into further escalations of the trade war, and that will translate into higher prices for everything Americans import from China.

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