Trump threatens a 25% tariff on the iPhone and Apple laptops

Trump threatens a 25% tariff on the iPhone and Apple laptops

Trump threatens a 25% tariff on the iPhone and Apple laptops

Sterling was weaker across the board after Trump said on Monday the agreement allowing the United Kingdom to leave the European Union may make trade between Washington and London more hard.

National Security adviser John Bolton said Trump will also be meeting with German Chancellor Angela Merkel, Japanese Prime Minister Shinzo Abe, Argentine President Mauricio Macri, South Korea's Moon Jae-in, Turkish President Recep Tayyip Erdogan and Indian Prime Minister Narendra Modi.

It has also lifted slightly to 63.96 euro cents, but jumped to 56.73 British pence.

World stock markets fought to keep a rebound alive on Tuesday after U.S. President Donald Trump seemed to quash hopes of a trade truce with China, clouding what had been a bright start to the week.

"And that wouldn't be a good thing". "I don't think anybody should really try to have a repetition of history".

Mr Trump is expected to meet Chinese President Xi Jinping in the upcoming G20 summit at Bueno Aires, Argentina this weekend.

On European markets, London (-0.3pc), Frankfurt (-0.4pc) and Paris (-0.2pc) ended their trading sessions lower.

The Dow jumped more than 350 points as Cyber Monday fever strikes USA markets.

He also repeated his threat to slap tariffs on all remaining imports from China.

It doesn't help that neither Trump nor his trade or economic advisers are prepared to acknowledge (if, indeed, they recognise it) that a trade conflict harms the U.S. along with those it targets, or that a country that issues the world's reserve currency is inevitably going to run structural current account deficits.

President Donald Trump has repeatedly told reporters that tariffs on an additional $267 billion worth of Chinese goods are ready to go, should Beijing refuse to bow to USA demands and stop intellectual property theft. Washington and Beijing remain at odds on key issues such as USA accusations of intellectual property theft and forced technology transfer, he said.

"Their responses have disappointed because ... we can't find much change in their approach", he said, declining to comment on specifics.

But Kudlow warned that if China holds out against USA demands, Washington could ramp up the trade war.

After those soothing words, the Dow rose by 108 points, or 0.4 per cent, to close at 24,748.

E-Mini futures for the S&P 500 eased back 0.35 per cent, after rising sharply overnight.

The MSCI All-Country World Index, which tracks shares in 47 countries, was flat on the day.

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