Business

Trump says if no China trade deal possible, ‘I am a Tariff Man’

WASHINGTON (Reuters) – U.S. President Donald Trump on Tuesday held out the possibility of an extension of the 90-day trade truce with China but warned he would revert to tariffs if the two sides could not resolve their differences. Trump said his team of trade advisers led by China trade hawk U.S. Trade Representative Robert Lighthizer would determine whether a ...

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Wall Street tumbles, spooked by growth and trade worries

(Reuters) – Wall Street tumbled more than 3 percent on Tuesday, led lower by bank and industrial shares, as the U.S. bond market sent unsettling signs about economic growth and investors worried anew about global trade. A prominent Federal Reserve official’s comments about the path of interest rate hikes added to the uncertainty for investors, as did setbacks for Britain’s ...

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Volkswagen may use Ford’s U.S. plants to build cars, deepening alliance

WASHINGTON (Reuters) – Volkswagen’s (VOWG_p.DE) chief executive said on Tuesday after a meeting at the White House that the German automaker was building an alliance with Ford Motor Co (F.N) and might use the U.S. automaker’s plants to build cars. VW CEO Herbert Diess said the company was also “considering building a second car plant,” adding, “We are in quite ...

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Trump panel wants to give USPS right to hike prices for Amazon, others

WASHINGTON (Reuters) – The United States Postal Service should have more flexibility to raise rates for packages, according to recommendations from a task force set up by President Donald Trump, a move that could hurt profits of Amazon.com Inc (AMZN.O) and other large online retailers. The task force was announced in April to find ways to stem financial losses by ...

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Two key Canada-to-U.S. oil pipelines hit by disruptions

NEW YORK (Reuters) – Two major pipelines bringing oil from Canada to the United States were hit by disruptions on Tuesday, with TransCanada Corp’s Keystone line shutting down, while Enbridge Inc’s Mainline pipeline was hit with outages and reduced flow rates. FILE PHOTO: A TransCanada Keystone Pipeline pump station operates outside Steele City, Nebraska, U.S., March 10, 2014. REUTERS/Lane Hickenbottom/File ...

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Oil curbs gains amid trade, output cut uncertainty

NEW YORK (Reuters) – Oil prices pared gains in a volatile trade on Tuesday amid fears that demand would stall due to a trade war between the United States and China, and concerns that Russia remains a stumbling block to a deal to cut global crude supply. Oil pumps are seen after sunset outside Vaudoy-en-Brie, near Paris, France November 14, ...

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Wall St drops 3 percent on trade and economic worries

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 3, 2018. REUTERS/Brendan McDermid NEW YORK (Reuters) – Wall Street tumbled more than 3 percent on Tuesday, led lower by bank and industrial shares, as the U.S. bond market sent unsettling signs about economic growth and investors worried anew about global trade. The ...

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Global stocks fall on growth concerns, doubts over trade truce

New York (Reuters) – Global stocks sank and the dollar fell on Tuesday as a flattening Treasury yield curve sparked recession warnings, while optimism that the U.S. and China would quickly resolve their trade dispute dwindled. Benchmark Treasury 10-year yield fell to its lowest point since mid-September. The spread between the 10-year yield over its two-year counterpart also shrank to ...

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