Global Markets: Global markets crippled by trade wars

WINNIPEG, June 3 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.

– China is unilaterally blaming the United States for the lack of trade deal between the two countries. The Chinese government published a 23-page paper in eight languages detailing the trade negotiations between the two countries, which came to a standstill in early May. The document stated “the US government should bear the sole and entire responsibility for this severe setback to the China-US economic and trade consultations.” While U.S. President Donald Trump has accused China of walking back on promises during trade talks, China described this as a “common practice” according to Yahoo Finance.

– Following punitive tariffs announced last week, a delegation from MExico will begin talks in Washington on Monday regarding migration from Central America. President Trump threatened to apply a five per cent tariff on Mexican goods beginning June 10 unless migration ceased across the U.S. – Mexico border.

– As global stock values suffer thanks to innumerable prolonged trade wars, Wall Street is beginning to doubt President Trump’s dedication to the markets. “So many people seem to believe that President Trump will come-out and try to jawbone (or tweet) the market higher whenever it dips to any degree. His words and actions over the past week… during a market decline… throws a lot of doubt on that theory,” said Miller Tabak strategist Matt Maley to Yahoo Finance. President Trump has not commented on recent stock performances.

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