Asian markets sink as Trump hints at delay to trade deal
Hong Kong, Dec 4 (AFP/APP): Asian investors extended a sell-off in global markets on Wednesday after Donald Trump poured cold water on the chances of a trade deal with China by the end of the year. After weeks of broad optimism — and White House claims — that the economic superpowers were close to a partial agreement, the president said he could be happy to wait until after next year’s elections. The comments, in London ahead of a tense NATO summit that has also fuelled geopolitical concerns, sent shivers through trading floors across Europe and New York, where dealers ran for the hills. “I have no deadline,” Trump told reporters upon his arrival. “In some ways, I like the idea of waiting until after the election for the China deal.” Investors were already on edge after the US reimposed stiff tariffs on Argentina and Brazil citing currency manipulation, then threatened to hammer France with 100 percent levies over the country’s digital tax. US Commerce Secretary Wilbur Ross had also warned that more tariffs on Chinese goods planned for December 15 would be imposed if the first phase of trade talks was not completed by then. Observers noted that Trump has … Continue reading Asian markets sink as Trump hints at delay to trade deal
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