Apple could 'ultimately mitigate' Trump's tariffs, UBS says (AAPL)

Apple is boosting trade-in values but only if you buy an iPhone XS or iPhone XR                  Image Apple

Mr Trump also said he would hit the rest of Chinese imports to the U.S. with tariffs if talks did not go well.

Trump already has imposed tariffs on more than $250 billion in Chinese goods - about half of the total imported each year - in an attempt to pressure the country to change its trade rules.

Trump said it was "highly unlikely" he would accept China's request to hold off on the increase.

In an interview with The Wall Street Journal on Monday, Mr Trump repeated his threat to slap tariffs on all remaining imports from China, adding that "the only deal would be (that) China has to open up their country to competition from the US".

Major equity indexes in the USA started the day in the negative territory on Tuesday as investors stay cautious ahead of the G20 summit, at which US President Trump and his Chinese Counterpart Xi are expected to negotiate on trade.

As well as talks with China, Mr Trump has arranged a personal meeting with Russian President Vladimir Putin and is expected to take part in a signing ceremony for the trade agreement with Mexico and Canada that replaces the North American Free Trade Agreement. 'I mean, I can make it 10 per cent, and people could stand that very easily'.

"We are seeing a greater degree of stability in sterling, but it went below recent ranges on Trump's comments", said Neil Mellor, currency strategist at Bank of New York Mellon in London. Chinese manufactured products account for 61.6% of the consumer electronics imported into America.

The best hope for an unexpectedly positive outcome is that the Chinese could come up with something that appeals to the Trump ego by appearing to give him a victory without China actually making meaningful concessions. He declined to say what other USA officials will join Trump in the session.

Additionally, Trump said that he expects to boost tariffs on $200 billion of Chinese products to 25 percent in January. The two sides have been in negotiations for months, but Kudlow described them as being stalemated until just a few weeks ago.

"I count on the United States", Poroshenko told NBC News.

Reports suggest that the United States government and China are close to closing a deal which could help reverse ZTE's failing fortunes. "We will fight for our freedom, we will fight for our democracy, we will fight for our soil", he said.

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