During a Tuesday meeting with his cabinet, the president said he would “just raise tariffs even higher” if China did not make a deal.
European stocks traded after the U.S. on Wednesday morning. If Beijing does not agree to a trade deal, President Donald Trump vowed to raise tariffs on Chinese goods.
In early deals, the pan-European Stoxx 600 dropped 0.6 percent, with basic resources, banks, vehicles, and oil and gas stocks shedding more than 1 percent each as all sectors and major stock bourses traded in negative land.
During a Tuesday meeting with his cabinet, the president said he would “just raise tariffs even higher” if China didn’t make a deal.
The comments came after news that due to Trump’s refusal to roll back existing tariffs, Beijing is pessimistic about the possibility of an imminent “phase one” trade deal.
China’s foreign ministry also lashed out in the U.S. on Wednesday after a bill unanimously passed by the Senate to support protesters in Hong Kong.
After another dramatic day of public testimony from Lt. Col Alexander Vindman and other officials on Capitol Hill, investors will also have an eye on impeachment proceedings against the president.
Asia Pacific shares declined on the comments on Wednesday afternoon, led by Australia’s S&P / ASX 200 and Kospi from South Korea.
Swiss stock exchange operator SIX said in corporate news that its offer to Spanish stock exchange operator BME is “financially attractive” to BME shareholders in the middle of an ongoing bidding war with pan-European Euronext operator.
The European Central Bank (ECB) will release its Review of Financial Stability at 9:00 a.m. London time.
Italy’s Nexi shares climbed 3.2 percent after Italian media reported that Intesa Sanapaolo is in negotiations with the bank on a strategic partnership.
British home improvement retailer Kingfisher plunged 7.7 percent in early trading after announcing a fall in like-for-like sales in the third quarter, while Wirecard saw its stock slide 5.7 percent after German newspaper Handelsblatt reported late Tuesday that auditor EY refused to sign off on its 2017 Singapore audit.


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