News 

Dollar consolidates gains amid cautious optimism on tariff deal

“He’s left the door open to some (tariff) rollbacks,” said Rodrigo Catril, a senior FX strategist at National Australia Bank in Sydney” writes Midwest Communications Inc for 95kqds.com. SINGAPORE (Reuters) – The dollar held near multi-week highs on Monday amid optimism that the United States and China would roll back tariffs that have hurt global growth.The dollar was marginally weaker against the euro and Japanese yen , reflecting some investor caution that the deal could still unwind.Against the New Zealand dollar , it was close to a month high at…

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Futures News Oil 

Oil sinks more than 1% amid doubts about tariff rollback

“Oil futures slumped Friday as skepticism around a rollback of tariffs in China-U.S. trade talks eroded bullish sentiment on crude prices” writes Mark Decambre for marketwatch.com. For the week, U.S. benchmark oil prices are on track to climb 0.3%, according to FactSet data. Looking ahead, investors await a weekly report from Baker Hughes on rigs drilling for oil, with the oil-field services firm reporting last week that the number of rigs drilling for oil fell by 5 to 691.January Brent crude BRNF20, -1.94%, the international benchmark, shed 91 cents, or…

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News 

China, U.S. Agree Tariff Rollback If Phase One Trade Deal is Completed

“The optimism over a phase one trade deal boosted stocks globally; bond yields shuffled higher” writes Min Read for reuters.com. Trump has used tariffs on billions of dollars of Chinese goods as his primary weapon in the protracted trade war.A U.S. official, speaking on condition of anonymity, confirmed the rollback would be part of the first phase of a trade agreement that is still being put to paper for Trump and President Xi Jinping to sign.U.S. officials said a lot of work remained to be done when Trump announced the…

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News 

China, U.S. set to lift tariff hikes as talks advance

“Negotiators agreed to a “phased cancellation” of tariff hikes if talks progress, said a Commerce Ministry spokesman, Gao Feng” writes Associated Press for nbcnews.com. Financial markets were rattled by reports China was pushing for tariffs to be lifted, which raised the possibility of a breakdown in talks.”If the two sides achieve a ‘Phase 1’ agreement, then based on the content of that agreement, tariffs already increased should be canceled at the same time and by the same rate,” Gao said at a news briefing.President Donald Trump agreed to postpone a…

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News 

China says Beijing, US to lift tariff hikes as talks advance

“Financial markets were rattled by reports China was pushing for tariffs to be lifted, which raised the possibility of a breakdown in talks” writes The Associated Press for seattletimes.com. The agreement came during talks aimed at working out details of a “Phase 1” deal announced Oct. 12.BEIJING (AP) — Beijing and Washington have agreed to reduce some punitive tariffs on each other’s goods as talks on ending their trade war progress, a Chinese spokesman said Thursday, removing a possible stumbling block to a settlement.News reports said Beijing wants 15% tariffs…

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News 

Trade war presents lingering recession threat

“The trade war alone could not induce a recession, he argues, although it could be a catalyst for broader problems” reports washingtonexaminer.com. That many businesses have acted to avoid trade war damage could be part of the problem.That is partly a consequence of the trade war because its creates uncertainty that makes businesses reluctant to invest, Winegarden said. “But if Trump ramps up the trade fights, then the chances of a real recession — not just a slowdown — will escalate to over 40% by next fall.”. Businesses have built…

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News Stocks 

U.S. markets soar to fresh highs, extending November’s record-setting start

“Chinese trade officials said on Friday they had reached a consensus with U.S. negotiators on phase one of a trade deal” writes Reporter Covering National for washingtonpost.com. Markets have rallied, thanks to a better-than-expected jobs report in a month marked by one of the largest private-employer strikes in recent years and assurances from both U.S. and Chinese trade officials that a deal is forthcoming. Source: washingtonpost.com

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News 

Businesses seeking exceptions to China tariffs say what they really need is certainty

“And those are just the tariffs on China, Bragdon added” reports washingtonexaminer.com. The administration will also accept new requests for exclusions from the $200 billion worth of products hit with 25% tariffs earlier this year.They need certainty to be able to do that, and when it comes to President Trump’s trade policies, nothing is certain.Starting Thursday, the United States Trade Representative’s Office will begin accepting requests from businesses to have products they import from China excluded from the Trump administration’s tariffs.An additional problem for businesses is, even if an exclusion…

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