Oil edges higher but US-China trade tensions curb gains

China has formally launched a World Trade Organization challenge against the US&apos first round of proposed tariffs on Chinese goods

He said he did not think there will be a trade war.

"Taxes will become reciprocal & deal will be made on Intellectual Property".

"President Xi and I will always be friends", Trump tweeted.

WASHINGTON-U.S. President Donald Trump is suggesting China will ease trade barriers "because it is the right thing to do" and Washington and Beijing can settle disputes that have rattled financial markets, consumers and businesses.

Trump remained defiant and argued the pain of the dispute will pay off in the end, while China said that his administration would only "shoot itself in the foot" if it didn't back down from the "extremely wrong" threats. "When a vehicle is sent to China from the United States, there is a Tariff to be paid of 25%", Trump tweeted.

Trump's surprise move Thursday to instruct the US trade representative to consider additional tariffs came a day after Beijing said it would tax $50 billion in American products, including soybeans and small aircraft, in response to a USA move this week to impose tariffs on $50 billion in Chinese imports.

Korea seeks summit with Trump in Pyongyang
USA officials are apparently shooting for late May or possibly June. "If there were such talks, we think it's a positive move". Trump agreed to meet with Kim after a South Korean envoy extended Kim's invitation to the president last month.

Trump's senior economic advisers on Sunday dismissed talk of a trade war and said the president is serious about imposing tariffs, even as talks continue with China.

"Look, we have had to go in and fire a shot across the bow", he said on CNN's State of the Union". The US sold about $130 billion in goods to China in 2017 and faces a potentially devastating hit to its market there if China responds in kind.

Trump told advisers last week that he was unhappy with China's decision to tax $50 billion in American products, including soybeans and small aircraft, in response to a United States move to impose tariffs on $50 billion in Chinese goods. "Under these circumstances, the president is right to ask for additional appropriate action to obtain the elimination of the unfair acts, policies, and practices identified in USTR's report".

Trump hit back again late Thursday by instructing trade officials to consider tariffs on an additional $100 billion in imports.

The new ports, plans for which were proposed by Xi in October, would enjoy much greater freedom in terms of policymaking than existing free-trade zones and be more open in terms of market access, according to a person with knowledge of the matter.

"Mr. Trump is upping the ante, but the lack of a clear game plan and an incoherent messaging strategy from the administration is setting this up for an all-out trade war rather than a fruitful negotiation", said Eswar Prasad, professor of trade policy at Cornell University.

Griezmann riled by Atleti´s slow start in Madrid derby
Ronaldo had earlier volleyed home the opening goal, and it was no surprise to see the forward score as he is in such red-hot form. The Atletico star is clearly a fan of the video game Fortnite and has already given us a few celebrations inspired by the game.

But he also downplayed the tariff threat as "part of the process" and said he was hopeful that China would enter negotiations.

Sen. Ben Sasse (R-Neb.) on Thursday accused the President of "threatening to light American agriculture on fire".

"And those tariffs will be imposed, and then investment restrictions will be imposed", he said.

Still, White House trade adviser Peter Navarro said the threat of tariffs is not merely a negotiating tactic with China.

The Chinese appeal came after it filed two complaints at the World Trade Organization saying the U.S. has violated global trading rules, a claim the White House dismissed. "But thankfully, we have a president that's willing to actually stand up, be tough, and take some really courageous and bold action, like President Trump has done", she said.

General elections kick off in Hungary
Interim data at 1630 GMT showed voter turnout at 68.13 percent, exceeding final turnout in the past three elections. Thousands were still waiting to vote more than an hour after polling sites were set to close.

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