Fri. Nov 27th, 2020

Trade war: Stocks slide as Trump says ‘no deadline’ for China deal – business live

Rolling coverage of the latest economic and financial news, as US proposes steep new tariffs on French cheese, wine, handbags and porcelain

12.52pm GMT

Data firm Panjiva has calculated that America’s new proposed tariffs cover 4.1% of all French exports to the US, worth just over $2.4bn.

Cosmetics takes the biggest hit, followed by sparkling wine.

The largest import lines were: beauty products worth $842 million; champagne where imports were worth $806 million; handbags worth $434 million and; dairy products worth $202 million.

12.33pm GMT

While shares slide, the pound is rising towards its highest level in six months.

Sterling has just hit $1.30 for the first time in six weeks, and is close to levels not seen since May.

Cable near to highest since May – few pips only away

@ICMResearch‘s penultimate VI poll of the campaign, first published by @ReutersUK, shows the Conservatives maintaining their 7-pt lead over Labour. The Conservatives are on 42% (+1), while Labour are on 35% (+1)

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