Donald Trump expects 'great deal' with China over trade

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Further, a recent survey reported by Reuters shows that 85 percent of US businesses surveyed say they have suffered from the trade war's tariffs, and almost half of the companies reported increases in non-tariff barriers, as well.

Stocks took a tumble Monday with the Dow Jones Industrial Averageexperiencing a dramatic swing to close down almost 250 points amid concerns of another wave of Chines tariffs.

Tariff "wave" the stock market gains away.

According to a Bloomberg report citing anonymous sources, no decisions have been made, but a new list of U.S. tariffs was being prepared in case the Trump-Xi meeting does not yield progress.

At 12 p.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was up 49.17 points, or 0.34 per cent, at 14,771.08.

Futures for the Dow were up 0.4 percent and the broader S&P 500 futures added 0.5 percent.

The S&P 500 is down 32.36 points, or 1.2 percent.

Kyodo/NewscomIf a November meeting between U.S. President Donald Trump and Chinese President Xi Jinping does not produce an agreement, the U.S. could further escalate the two nations' trade war with additional tariffs before the end of the year.

The pan-European STOXX 600 index rose 0.01 percent.

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Amazon.com dropped 6.3% to $1,538.88. Its stock traded above $2,000 a share in early September and has dived 24.5% since then.

United States stocks edged higher in the first hour of trading on Tuesday. The Nasdaq has dropped 13% from its August 29 record high.

"We talked about a prospective trade war".

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

The chill around China and global trade left emerging- market stocks at an 18-month low, with MSCI's index down for a sixth day in a row.

"Downside momentum is so strong that it does not take much to encourage more selling", Bruce Bittles, chief investment strategist at RW Baird, told The Post.

It's fair to wonder whether Trump even wants to make a deal.

"When our relations are at a low ebb, it is always our people who will firmly support the bonds and friendship, and turn the tide of the China-US relations", he said at an event held in Washington by the China General Chamber of Commerce-USA, a non-profit organisation that represents Chinese businesses in the US. The U.S. -China trade war has hurt sales, and that slowdown is one of the factors that have damaged auto company stocks this year.

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