Canada not helping itself by hitting USA with tariffs-White House

Leroy Wright
July 5, 2018

Major U.S. trading partners including the European Union, China and Japan voiced deep concern at the World Trade Organization (WTO) on Tuesday about possible U.S. measures imposing additional duties on imported autos and parts.

USA stock futures were marginally higher, pointing to a stronger open for Wall Street later in the day.

Chinese newspapers described the move as a counterstrike in an escalating trade war.

Ties between the two neighbors and long-time allies have been strained by U.S. President Donald Trump's decision to impose tariffs on U.S. imports of steel and aluminum on national security grounds.

Japan's Nikkei lost 0.15 percent, South Korea's KOSPI slipped 0.2 percent, Hong Kong's Hang Seng was off 0.2 percent and the Shanghai Composite Index edged down 0.1 percent.

Hopes are dwindling for the world's two biggest economies to reach a breakthrough this week before Washington starts charging tariffs on $34 billion in Chinese imports.

THE Trump administration, in its latest attempt to block Chinese entry into the U.S. market amid its ongoing trade dispute with China, is recommending that the application by China Mobile to provide telecom services in the United States be denied.

Reports indicate that Beijing's tariffs on an equivalent price of US imports are poised to kick the same day.

United Kingdom government vows to ban 'abhorrent' gay conversion therapy
And two in five LGBT people had experienced discrimination, such as verbal harassment, in the past year alone. The initiative arrives after the government released results of a survey of LGBT people to the public.

In currencies, the euro was little changed at $1.1657. The single currency fell to as low as United States dollars 1.1630 overnight after weaker confidence in the euro zone overshadowed better-than-expected data on business activity.

The MSCI All-Country World index.MIWD00000PUS, which tracks shares in 47 countries, was lower by less than 0.1 percent on the day, recovering slightly from a 0.2 percent fall earlier.

The longer term direction for the yuan was still unclear.

The dollar was almost flat at 110.420 yen, trapped in a narrow range the previous day due to the US holiday, awaiting the minutes from the June Federal Reserve policy meeting due later in the day for immediate cues. -China trade deficit that has soared in recent years.

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017.

LME zinc was at $2,707.50 a ton after dropping to $2,687.50 overnight, the lowest since June past year.

Relations have soured between US President Donald Trump's administration and that of Chinese President Xi Jinping since they met in Beijing a year ago, sparking fears of an all-out trade war.

Brent oil prices rose, driven higher by a threat from an Iranian commander and a drop in USA crude inventories for the second week in a row caused by an outage at a Canadian facility.

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