U.S.-CHINA TRADE TURMOIL: China has issued an optimistic promise to carry out the terms of the tariff ceasefire reached by President Trump and Chinese leader Xi Jinping last weekend at the G20 summit, but has not succeeded in clearing up any confusion about the deal ... A Commerce Ministry statement on Wednesday said, "China will start from implementing specific issues on which consensus has been reached, and the sooner, the better." The statement gave no indication what those issues are.
China has yet to confirm Trump's claim Beijing promised to cut auto tariffs and immediately buy more American farm goods. That fueled the confusion and doubt on Wall Street that led to U.S. stocks plunging 799 points on Tuesday. The New York Stock Exchange and Nasdaq will be closed Wednesday in observance of the national day of mourning for former President George H.W. Bush.
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