Trump warns of another year of trade tension

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But investor sentiment was dealt a blow on Monday when Donald Trump said he would reinstate steel and aluminium tariffs on the two South American countries, which he accused of manipulating their currencies and hurting United States farmers.

Asian shares skidded on Tuesday after US President Donald Trump stunned markets with tariffs against Brazil and Argentina, recharging fears about global trade tensions, while weak US factory data added to the investor gloom.

During Brazilian President Jair Bolsonaro's visit to the White House earlier this year, Trump announced that the United States would be designating Brazil as a non-NATO ally.

The Trump administration has threatened to impose tariffs on more Chinese imports starting that day.

On Monday, before traveling to London, Trump said US legislation backing protesters in Hong Kong was not making trade negotiations with China easier, but he believed Beijing still wanted a deal with the United States. Beijing also opened the way for imports of soymeal from Argentina, the No. 1 exporter of that soy product.

Trump has now accused Brazil and Argentina of deliberately devaluing their currencies, which he claimed was not good for USA farmers, and is imposing tariffs on metal imports.

Investors were also disappointed that the US proposed tariffs on French goods, a day after announcing taxes on steel and aluminum imports from Chile and Argentina.

Weekend weather: Snowy, soggy and icy conditions expected across Minnesota
NPR says that according to FlightAware , more than 225 US flights had been canceled and more than 2,000 delayed on Saturday alone. Major highways reopened Sunday in Wyoming and Colorado, a day after blizzard conditions clogged roads with snow drifts.

The Department of Commerce now accepts tariff exclusion requests for individual steel and aluminum products for other countries now subject to the Section 232 tariffs.

It comes amid fresh trade disputes with France, Brazil and Argentina. Or they can be unlucky enough to find themselves in such dire economic straits that their currencies go into a freefall.

President Donald Trump on Tuesday downplayed the likelihood of reaching a U.S. "In some ways, I think it is better to wait until after the election if you want to know the truth". In one case this summer, he claimed that he had received high-level phone calls from Chinese officials pining for a deal - something that China immediately denied. "The Chinese are always negotiating... And we'll see what happens".

The French Parliament passed a new law on July 11 to impose a tax on digital giants, including USA companies Google, Amazon, Facebook and Apple, and its Finance Minister cited that the tax is necessary to make internet giants pay their fair share of taxes. Lighthizer said his office "is focused on countering the growing protectionism of European Union member states, which unfairly targets US companies, whether through digital services taxes or other efforts that target leading USA digital services companies".

The EU has always been a US ally, but Trump regularly threatens to slap tariffs on European goods. "I watch jobs. Jobs are what I watch; I watch making the proper deal", he said.

The all-share offer would benefit Endeavour's shareholders more than Centamin's, the board said, and did not "adequately reflect the contribution that Centamin would make to the merged entity". Voter support for Republicans declined in areas "most exposed to the retaliatory tariffs, and this was only partially offset by the summer 2018 agricultural subsidies".

European executives warned against a "lose-lose" trade war.