Global stock markets edged lower on Tuesday, as the previous session’s strong rally ran out of steam after U.S. President Donald Trump appeared to quash hopes of a trade truce with China at the upcoming G20 Summit.
Oil prices steadied, while the U.S. dollar, which has benefited from safe-haven flows this year as the trade conflict worsened, rose against peers.
On Monday, Trump said he expected to move ahead with raising tariffs on $200 billion in Chinese imports to 25 percent from the current 10 percent and repeated his threat to impose tariffs on all remaining imports from China.
The comments ran counter to recent speculation about a possible deal when Trump meets Chinese President Xi Jinping at the G20 summit in Buenos Aires this week.
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