THE DAILY REPORT
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11:30 AUD CPI
* Consensus lower
13:00 JPY interest rate
22:30 EUR CPI
Major Bloomberg & Reuters News
U.S. Plans More China Tariffs If Trump-Xi Meeting Fails, Sources Say
The U.S. is preparing to announce tariffs on all remaining imports from China by early December, should talks next month between President Donald Trump and Xi Jinping fail to deliver on trade, according to three people familiar with the matter. Trump said late yesterday he thought the U.S. could make a “great deal” with China, adding the caveat that “it has to be a great deal as they have drained our country.” Policy makers in Beijing continue to try to cushion the country from the trade war fallout with tax cuts, regulatory relief and investment incentives as they try to avoid the debt-financed stimulus of the past. The People’s Bank of China weakened its daily reference rate for the yuan to the lowest in more than a decade.
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