China Close to Release Cryptocurrency Despite Libra Comments

Stocks dip as Trump raises doubts about China trade talks

US Exports to China Slumped by 19% in July Owing to Trade War

President Donald Trump on Friday did not rule out canceling planned trade talks next month with Chinese officials, saying he is not yet ready to make a deal with the Asian economic powerhouse.

Trump told reporters that he received strong support from Democratic leaders including House Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Chuck Schumer (D-N.Y.).

Beijing on Monday allowed the yuan to sink below seven to the dollar - a key psychological threshold - but then intervened to halt the decline.

"We'll see whether or not we keep our meeting in September", he said.

The U.S. could threaten to buy up large amounts of Chinese government bonds, which would push up the yuan's value, even if China wants it to depreciate. If the Central Bank is still holding a similar amount of yuan (up-to-date data isn't available), fluctuations in the USA dollar-yuan rate could have already cost Russia $1.5 billion, according to economist Kirill Tremasov, who used to be the head of forecasting at the Ministry of Economic Development, reported Russian news outlet The Bell.

The Fed raised the benchmark USA interest rate four times a year ago, a total of a full percentage point, but pulled back with a rate cut last week.

The Dow Jones Industrial Average slipped by 205.16 points or 0.78% at the opening bell on Monday as concerns over the ongoing trade war tension between the USA and China continued.

After the meeting, however, Trump announced on August 1 that he would impose 10 percent tariffs on an additional $300 billion worth of Chinese goods.

As The Hill reported, More than 50 percent of respondents in a new survey say they will not vote for President Trump when he seeks reelection in 2020.

Trump also said the United States is "not doing business with Huawei". And I really made the decision.

But Navarro insisted that he wasn't anxious, pointing to comments by former Toys "R" Us CEO Jerry Storch, who told FOX Business' Maria Bartiromo earlier this week that there's "too much hysteria" over trade tensions.

The People's Bank of China is the upper level and the commercial banks are the second level. It also prompted the US Treasury Department to critique China for currency manipulation.

Locke, who was appointed by President Obama and served in the post for three years, said combined with China's response, these tariffs create a double-whammy for the USA consumer.

The central bank has been researching and developing a digital currency since 2014, though specific details remain scant.

"We're just bringing the system back into order", Trump said Friday. This measure of inflation still tracks below the Federal Reserve's target rate of 2% and reflects a slowing down in manufacturing activity amid weaker global demand.

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