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US-China Accord Still on The Cards | Oil Retreats
Published January 23, 2019
National Economic Council Director, Larry Kudlow, dispels rumors that a planned
meeting between trade representatives of the United States and China have been
cancelled. Kudlow stressed that the two sides were on track to have very
important high-level talks at the end of the month that will be determinative.
Stocks pared some of the losses after the denial.
rose about 1 percent after China and Japan said they would take fiscal
stimulus measures to stem an economic slowdown which has weighed on financial
markets and official data indicated slowing growth in US shale oil output in
the coming years. WTI crude prices have hit a high of $53.64.
Sales fell 0.9 Percent to $50.4 billion in November more than the economist’s
expectations of a drop of 0.6 percent on lower sales
at gasoline stations and motor vehicle and parts dealers Statistics
Canada reported on Wednesday.
Economy Minister Giovanni Tria said Italy will meet its key budget deficit
target for this year and there is no need for any corrective measures to
prevent an overshoot. Tria also stated that Italy does not pose a risk for the
European Union and the global economy and deficit spending was the right policy
to pursue in the current economic cycle.