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Futures Spike After Trump Says China Coming To Washington “To Make A Deal”

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Update (8:53 am ET): Almost immediately after Trump sent futures higher with a series of tweets touting the possibility of a deal with Beijing, the US Trade Rep’s office appeared to pour cold water on Trump’s claims by publishing a notice suggesting that Washington is sticking to its guns and raise tariffs on Friday.

  • U.S. ISSUES NOTE ON INCREASING TARIFFS ON $200B OF CHINA GOOD
  • U.S. NOTICE SAYS TARIFFS ON $200B OF CHINA GOODS GO UP FRIDAY

The notice confirmed that new tariffs would take effect on the tenth of May, and caused futures to pare some gains.

Trump

Though futures are still well above their lows of the session.

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Futures are spiking after President Trump tweeted Wednesday morning that Vice Premier Liu He would be coming to Washington to make a deal.

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https://platform.twitter.com/widgets.js

Trump also accused Beijing of trying to stall negotiations in the hopes that they might be able to negotiate a more favorable deal with Joe Biden or another “weak” Democrat. Futures and the dollar jerked higher after trending lower for most of the morning.

Trade


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Tyler Durden

Zero Hedge's mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information's unending quest for freedom. Visit https://www.zerohedge.com

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