US President Donald Trump stood by his administration's currency accusation, saying that the fact that China was subsequently able to stem the yuan's slide CNY=CFXS was proof of manipulation.and even called a September round of trade talks into question, reviving concerns on financial markets that the bilateral dispute is unlikely to end anytime soon.
“China wants to do something, but I’m not ready to do anything yet. Twenty-five years of abuse – I’m not ready so fast, so we’ll see how that works out,” he said. The Dow Jones Industrial Average. DJI fell 90.75 points, or 0.34%, to 26,287.44, and the S&P 500 .SPX lost 19.44 points, or 0.66%, to 2,918.65.
Trump stood by his administration’s currency accusation, saying that the fact that China was subsequently able to stem the yuan’s slide CNY=CFXS was proof of manipulation and was offsetting US tariffs on Chinese imports.Trump’s early comments on Huawei initially dashed hopes that the US Commerce Department would soon approve some licenses for American companies to resume some sales to Huawei.
Commerce put the telecom equipment maker on a national security blacklist in May, effectively banning sales of US technology, software and services to the firm.
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