Fri. Sep 25th, 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 pic.twitter.com/huwVJ6jk58

@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) https://t.co/0nXrFlaCdS pic.twitter.com/skui42cYo2

Continue reading…Rolling coverage of the latest economic and financial news, as US proposes steep new tariffs on French cheese, wine, handbags and porcelainLatest: Trump says China deal could wait until after 2020Trump says France shouldn’t tax US companiesTrump: If anyone takes advantage of US firms, it’s us!Introduction: Trade war deepensFrench fizz, cheese, handbags all face 100% tariffFrance: We’ll hit back 12.52pm GMTData 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 GMTWhile 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 pic.twitter.com/huwVJ6jk58@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) https://t.co/0nXrFlaCdS pic.twitter.com/skui42cYo2 Continue reading…

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