President Donald Trump said Wednesday Beijing so far has not made sufficient concessions in trade talks, making him reluctant to conclude a bargain. "I can tell you this. China would much rather make a trade deal than I would," he told reporters while touring a computer manufacturing facility that produces computers for Apple. "I don't think they're stepping up to the level that I want." Wall Street retreated further from record highs on Wednesday as pessimism mounted among investors about the chances for a deal to bring an end to the lingering trade dispute. Trump on October 11 announced a "phase one" deal resolving important US grievances about Chinese trade and currency practices. But more than a month later, the two sides appear no closer to finalizing the text of any agreement. China has insisted on a rollback of existing tariffs, which Trump said he has not agreed to. American officials want large purchases of US farm exports, which may be unworkable for Beijing. … [Read more...] about China ‘not stepping up’ in trade talks: Donald Trump
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WASHINGTON: The U.S. House of Representatives on Wednesday passed two bills to back protesters in Hong Kong and send a warning to China about human rights, with President Donald Trump expected to sign them into law, despite delicate trade talks with Beijing. The House sent the bills to the White House after voting 417 to 1 for the "Hong Kong Human Rights and Democracy Act," which the Senate passed unanimously on Tuesday. Strong support had been expected after the House passed a similar bill last month. The measure, which has angered Beijing, would require the State Department to certify at least once a year that Hong Kong retains enough autonomy to qualify for the special U.S. trading consideration that helped it become a world financial centre. It also would provide for sanctions against officials responsible for human rights violations in the Chinese-ruled city. Demonstrators have protested for more than five months in the streets of Hong Kong, amid increasing violence and … [Read more...] about US House passes Hong Kong rights bills, Donald Trump expected to sign
Atlanta: The Democratic presidential debate opened Wednesday night with the candidates agreeing that President Donald Trump should be impeached. "The president broke the law again and again and again," Massachusetts Sen. Elizabeth Warren said in the event's opening minutes. Minnesota Sen. Amy Klobuchar said Trump "puts his own private interests" ahead of the country's and "this is wrong." Vermont Sen. Bernie Sanders called Trump "the most corrupt president in modern history" but added, "We cannot simply be consumed by Donald Trump" or the Democratic Party will lose the election. He said Democrats instead should focus on the needs of working people. Such broad agreement was unlikely to last, though. Pete Buttigieg's rise in the primary makes him a prime target as the four candidates now bunched at the top seek to distinguish themselves with less than three months until voting begins. The 37-year-old mayor of South Bend, Indiana, has gained significant ground in recent months in Iowa, … [Read more...] about ‘Most Corrupt President in Modern History’: At Debate, Democrats Agree Trump Must be Impeached
By Stephen Gandel A year ago, when the market was rallying, President Donald Trump seemed sure stock prices were an accurate measure of his presidency. Now with the Dow Jones Industrial Average off more than 4,000 points from its peak, the president is not so sure about the market’s efficiency. On Tuesday, President Trump said stocks were a good buy, effectively endorsing the notion, long held by many economists, that markets are inefficient. And given companies’ earnings, in Trump’s view, stocks have been oversold. “They have record kinds of numbers,” he said. “So I think it’s a tremendous opportunity to buy.” If stocks overshot on the way up a year ago, which it seems clear they did, the question of whether the recent plunge has also been overdone is still uncertain. A day after the president’s comments that seemed to be the case. The market soared on Wednesday, with the S&P 500 Index rising 5 per cent. Nonetheless, a … [Read more...] about US stocks not as great a bargain as Trump thinks
By Christopher Anstey The flip side of what’s been the third-worst month for American stocks in the postwar era is that prices are a whole lot cheaper than they were before the rout. While it may take a strong stomach to nibble at U.S. equities, they do offer the most attractive valuations since 2013, measured by the price-to-earnings ratio for the S&P 500 Index in data compiled by Bloomberg. At little more than 13 times the coming year’s estimated earnings, American stocks are also looking less of an outlier versus other advanced markets than earlier this year. “Relative to the stretched valuations we have seen for U.S. indices in 2017, the current levels certainly appear more attractive,” said Jingyi Pan, market strategist at IG Asia Pte. in Singapore. “That being said, just as markets overlooked the high valuations and focused on the growth potential through to the peak this year, the current lowered valuations alone do not make for buying … [Read more...] about Trump says buy the dip. And why not, at valuations like these?