Donald Trump expects 'great deal' with China over trade

Stocks slide again on report the U.S. plans more tariffs on Chinese goods

China on Saturday denounced Donald Trump's accusation that Beijing is stalling efforts to disarm North Korea as "irresponsible", after the U.S. president said an upcoming trip to Pyongyang by his top envoy had been cancelled due to lack of progress on the issue.

The list would apply to the imports from China that aren't already covered by previous rounds of tariffs-which may be $257 billion using last year's import figures, according to two of the people.

They would be on top of the Dollars 250 billion already imposed.

He said he has 267 billion dollars of new tariffs waiting to go if he can not make a deal with China. China's overnight repo rate surged the most in more than four years as authorities take steps to combat bets against the yuan, which held near the weakest level in a decade against the greenback. Each side has now imposed charges on half of the other side's annual exports and Washington has threatened to slap tariffs on all Chinese sales to the U.S. The Dow Jones industrial average swung between a gain of 352 points and a loss of 566 before closing down 245.39 points, or 1%, at 24,442.92. The S&P 500 index swung by almost 4 percent from its high to the low in the trading session, with tech stocks and Boeing particularly hard hit.

Those threats were given new life this week when three unnamed sources were cited by Bloomberg as confirming that the Trump administration would go through with tariffs on the remaining US$260 billion of imports from China if upcoming talks between the two countries' leaders did not go well.

Merkel party suffers heavy losses in key regional election
It was not until March 2018 that a government was finally formed, when the SPD agreed to enter a coalition. Merkel has led the CDU since 2000 and has been Germany's chancellor since 2005.


The US President said he would like to strike a deal now but that China was not ready. Miners and energy companies led the way as nearly every sector on the Stoxx Europe 600 Index climbed. But there are risks in the background, from the American midterm elections to trade talks with China. Alphabet, Google's parent company, lost 4.5 percent to $1,034.73.Amazon.com dropped another 6.3 percent to $1,538.88.

The euro was flat at $1.1392. Brent crude, used to price global oils, fell 0.4% to $77.34 a barrel in London.

The S&P 500, the main benchmark for the US stock market, has fallen 9.9 percent from its latest record high on September 20.

ENERGY: Benchmark U.S. crude added 6 cents to $67.10 per barrel in electronic trading on the New York Mercantile Exchange. The MSCI All-Country World Index has dropped more than 8 percent in October, poised to post the worst monthly performance since May 2012.

The dollar rose to 112.35 yen from 111.85 yen.

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