NEW YORK: Losses on Wall Street deepened on Tuesday afternoon as the latest trade dust-up between Beijing and Washington raised fears about the prospects for agreement after months of conflict.
Hopes the United States and China can seal a trade deal took a hit over the weekend when President Donald Trump threatened to raise tariffs on Chinese imports as of Friday. Investors have generally viewed the Trump threats as a bargaining tactic, yet Tuesday's pullback suggested some fear the latest back-and-forth could pose a more serious obstacle."The new tariffs have caught the market off guard," said Quincy Krosby, chief market strategist of Prudential Financial."The question becomes, What will the Chinese do?"
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