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| Version 1 | Version 2 |
|---|---|
| Markets calm amid hopes for US-China talks | Markets calm amid hopes for US-China talks |
| (about 8 hours later) | |
| Global stock markets have steadied amid hopes that the US and China will resume talks next month, following an escalation in their trade war. | Global stock markets have steadied amid hopes that the US and China will resume talks next month, following an escalation in their trade war. |
| On Monday, China announced tit-for-tat tariffs on $60bn (£46bn) of US exports, causing stock markets to tumble | On Monday, China announced tit-for-tat tariffs on $60bn (£46bn) of US exports, causing stock markets to tumble |
| But later US President Donald Trump said he expected to meet China's president at the G20 summit in Japan. | But later US President Donald Trump said he expected to meet China's president at the G20 summit in Japan. |
| He also said he had not decided whether to go ahead with threatened tariffs on another $325bn of Chinese imports. | He also said he had not decided whether to go ahead with threatened tariffs on another $325bn of Chinese imports. |
| At a briefing on Tuesday, China's foreign ministry spokesman Geng Shuang said: "The two heads of state maintain contact through various means." | At a briefing on Tuesday, China's foreign ministry spokesman Geng Shuang said: "The two heads of state maintain contact through various means." |
| But when asked whether China was making preparations for a possible Xi-Trump meeting, Mr Geng said: "I have no information at present about the specific question raised." | But when asked whether China was making preparations for a possible Xi-Trump meeting, Mr Geng said: "I have no information at present about the specific question raised." |
| The Dow Jones Industrial average regained some ground on Tuesday to close 0.82% higher after falling more than 2% the previous day when China announced its retaliatory measures. | |
| The S&P 500 climbed 0.80% and the Nasdaq ended 1.14% ahead. | |
| Asian stock markets remained under pressure on Tuesday, but European indexes recovered with London's FTSE 100 up 0.8%, Germany's Dax 0.4% higher, and the French Cac 40 up 0.9%. | |
| On Friday, Washington doubled duties on $200bn of Chinese goods, having accused Beijing of trying to renegotiate a trade deal. | On Friday, Washington doubled duties on $200bn of Chinese goods, having accused Beijing of trying to renegotiate a trade deal. |
| The war of words between the countries had intensified after the latest round of US-Chinese trade negotiations ended in Washington last week without a deal, | The war of words between the countries had intensified after the latest round of US-Chinese trade negotiations ended in Washington last week without a deal, |
| Mr Trump warned China not to raise levies and urged US firms to buy goods from other countries such as Vietnam. | Mr Trump warned China not to raise levies and urged US firms to buy goods from other countries such as Vietnam. |
| But Mr Geng told a news briefing in Beijing that China would "never surrender to external pressure". | But Mr Geng told a news briefing in Beijing that China would "never surrender to external pressure". |
| From 1 June, China will impose duties on US goods including beef, lamb and pork products, as well as various varieties of vegetables, fruit juice, cooking oil, tea and coffee. | From 1 June, China will impose duties on US goods including beef, lamb and pork products, as well as various varieties of vegetables, fruit juice, cooking oil, tea and coffee. |
| 'Good relationship' | 'Good relationship' |
| As well as ordering a tariff increase on $200bn worth of Chinese imports, Mr Trump had directed the US trade department "to begin the process of raising tariffs on essentially all remaining imports from China". | As well as ordering a tariff increase on $200bn worth of Chinese imports, Mr Trump had directed the US trade department "to begin the process of raising tariffs on essentially all remaining imports from China". |
| The US released a list of those additional Chinese products that could face higher levies. | The US released a list of those additional Chinese products that could face higher levies. |
| But after China's response, he said he had "not made a decision" on whether to go ahead with those additional levies. | But after China's response, he said he had "not made a decision" on whether to go ahead with those additional levies. |
| He also said the US had "a very good relationship" with China, and the two sides would talk at G20 summit on 28-29 June. | He also said the US had "a very good relationship" with China, and the two sides would talk at G20 summit on 28-29 June. |
| "Maybe something will happen," he said. "We're going to be meeting, as you know, at the G20 in Japan and that'll be, I think, probably a very fruitful meeting." | "Maybe something will happen," he said. "We're going to be meeting, as you know, at the G20 in Japan and that'll be, I think, probably a very fruitful meeting." |
| The US argues that China's trade surplus with the US is the result of unfair practices, including state support for domestic companies. | The US argues that China's trade surplus with the US is the result of unfair practices, including state support for domestic companies. |
| It also accuses China of stealing intellectual property from US firms. | It also accuses China of stealing intellectual property from US firms. |
| But Mr Trump's approach in the dispute has put him at odds with his own top economic adviser, Larry Kudlow, who has said "both sides will suffer". | But Mr Trump's approach in the dispute has put him at odds with his own top economic adviser, Larry Kudlow, who has said "both sides will suffer". |
| On Tuesday, the president remained defiant, tweeting: "In one year Tariffs have rebuilt our Steel Industry - it is booming! We placed a 25% Tariff on 'dumped' steel from China & other countries, and we now have a big and growing industry." | On Tuesday, the president remained defiant, tweeting: "In one year Tariffs have rebuilt our Steel Industry - it is booming! We placed a 25% Tariff on 'dumped' steel from China & other countries, and we now have a big and growing industry." |