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Stocks, Yuan Tumble On US-China Trade Headlines

Summary:
US equities and yuan are down notably after Bloomberg reports that some U.S. officials are concerned that China is pushing back against American demands in trade talks as progress slows toward a deal. Chinese negotiators have shifted their stance with the view that while they have agreed to changes to their intellectual-property policies, they haven’t ...

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US equities and yuan are down notably after Bloomberg reports that some U.S. officials are concerned that China is pushing back against American demands in trade talks as progress slows toward a deal.

Chinese negotiators have shifted their stance with the view that while they have agreed to changes to their intellectual-property policies, they haven’t received assurances from the Trump administration that tariffs imposed on their exports would be lifted, two of the people said on condition of anonymity.

Trannies are leading the drop...

Stocks, Yuan Tumble On US-China Trade Headlines

And Yuan down hard...

Stocks, Yuan Tumble On US-China Trade Headlines

In recent days, Bloomberg reports that USTR has sent comments to its Chinese counterparts seeking to address concerns with language in China’s revised offer on intellectual-property protection, according to one person briefed on the discussions.

However, another person - reportedly close to U.S. Trade Representative Robert Lighthizer - denied that Chinese officials have backed away from previous pledges. A Chinese official briefed on the talks said that the negotiations are still ongoing and that a back-and-forth is to be expected in such circumstances.

Tyler Durden
Tyler Durden (a pseudonym) represents the idea that a return to truly efficient markets is a possibility and a necessity. After having experienced the inner workings of capitalism at various asset managers and advisors, Tyler believes that the current model is flawed and a deleveraging at every level of modern society is needed to reinspire the fundamental entrepreneurial spirit. Visit his blog: ZeroHedge (http://www.zerohedge.com/)

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