Oil up after Trump assurance on China trade deal

Donald Trump wearing a suit and tie White House trade adviser Peter Navarro who will now serve as national defense production act policy coordinator speaks about the coronavirus in the James Brady Press Briefing Room Friday

Over the past four years, tariffs have been a significant focus for Trump, who has promised to resurrect USA manufacturing by slapping steep tariffs on foreign competitors, particularly China.

Worries about the deal between Washington and Beijing hit USA stock futures yesterday night after White House advisor Peter Navarro said in a television interview that the agreement was "over". -China trade deal was "over".

Prices pared early gains after the U.S. Purchasing Managers' Index (PMI) showed the country's rebound from coronavirus depressed levels was not as sharp as in Europe.

Navarro later backtracked on his remark.

The Trump administration has accused China of not only delaying informing the world about the severity of coronavirus, but point to the Communist regime's crackdown on whistleblowers who tried to alert the world about the potential danger.

Earlier on Monday when asked about the trade agreement, White House trade adviser Peter Navarro told Fox News "it's over".

United Kingdom relaxes 2-meter social distancing rule to further ease coronavirus lockdown
Prime Minister Boris Johnson said people should remain 2m apart where possible but a "one metre plus" rule will be introduced. Prime Minister Boris Johnson announced that it would move to the third stage of its coronavirus reopening plan, per the BBC .

But Trump immediately posted on Twitter, "The China Trade Deal is fully intact".

Fox Business anchor Maria Bartiromo told "America's Newsroom" on Tuesday that she thinks that phase one of the U.S. -China relations have deteriorated sharply since the two countries signed Phase 1 of a trade deal January 15th. U.S. Imports from China shot up to $31.1 billion from $19.8 billion in March, which marked the lowest monthly total in 11 years.

Meanwhile, confirmed cases of covid-19 continue to climb in the USA and overseas.

Based on that alleged misconduct and deception on the part of Beijing, MacCallum pressed Navarro on whether the Trump administration can expect China to live up to its end of the trade deal.

Lighthizer said last week that about $10 billion in Chinese purchase commitments had been made under the deal, including $1 billion worth of cotton. Oil has rallied in recent days above $40 a barrel as some US states moved forward with the phased reopening of their economies, while physical crude prices are climbing due to cuts by Russian Federation.

The adviser's comments injected a strong dose of volatility into global markets with currency and futures markets dipping and Asia Pacific stocks falling into negative territory, before recovering after Navarro had issued a statement that his comments had "been taken wildly out of context".

Related News:

Most liked

Major League Baseball players and staff test positive for Covid in 1 week
It appears baseball will be played, the league will get to set the schedule and the players will have stuck together - mostly. There's hope the 2020 season could start around July 24-27 if the league's proposal is accepted, Nightengale adds.

COVID-19 treatment: AYUSH ministry seeks details on Patanjali Ayurved`s `Coronil` tablet
He also said that necessary approvals for conducting the trials of medicine on patients had been taken from competent authorities. We conducted two trials of these, first clinical controlled study, which took place in Delhi, Ahmedabad, among many other cities.

Construction timeline of BeiDou navigation system
Previously, the most recent BDS satellite had been launched in March early this year and the project was to be completed by May. The BDS-2 system is the world's first hybrid constellation, in which satellites in three kinds of orbits work in concert.

McLean County Sees Three More COVID-19 Cases; Two Recoveries
The Washington Department of Health reported 28,225 confirmed coronavirus cases in the state and 1,265 known deaths. The county reports that 1,620 cases, or 15 percent of the total countywide, have required hospitalization.

PGA Championship To Go Ahead Without Fans, Says Report
Professional golf made a return to action last week with the Charles Schwab Challenge, the first PGA Tour event in three months. The PGA Championship originally was scheduled for May 14-17 at Harding Park, but was rescheduled because of the pandemic.

Adam Silver confident in NBA's bubble plan despite coronavirus surge
If the union feels working conditions are unsafe, it would ask for Walt Disney employees to have limited access to the bubble. The season is not set to officially resume until July 30, so that gives the league time to make adjustments as needed.

Alcott slams U.S. Open 'discrimination' over wheelchair omission
Cancel the 2020 competition but have $150,000 in total compensation for wheelchair athletes. 2. However, Alcott insisted athletes like him should make the decision by themselves.

Aya and the Witch Photos Preview Studio Ghibli’s First CG Film
The film, titled Aya and the Witch , will be their first in six years, following on from 2014's When Marnie Was There . I sincerely hope that our Aya , who we can't help but adore, will bring encouragement to children and cheer to adults.

Federal authorities reviewing noose found in Bubba Wallace's garage stall
Wallace has said NASCAR assigned him two sheriff's deputies for security at Martinsville after he called for the ban. One driver told CNN that NASCAR drivers are planning a show of support for Wallace before the race.

Mixer: Microsoft abandons gaming app in Facebook deal
Microsoft is shutting down its video game streaming platform, Mixer, after its growth failed to meet the company's expectations. Mixer Pro and channel subscriptions will expire on July 22, as will any leftover Embers and Sparks (similar to Twitch Bits).

Alberta records 32 new cases of COVID-19 Monday, 1 additional death
All new cases were identified in the Calgary and Edmonton Zones, with the exception of one new case in an unknown zone. Thirty-two people were in hospital with COVID-19 on Monday afternoon, six of whom were in intensive care units.

Vanessa Bryant new family dog
In the photo Vanessa uploaded to Instagram , Kobe was pictured cradling Capri when she was a newborn in her first photoshoot. This Father's Day has been a little different for National Basketball Association free agent guard Isaiah Thomas.

Prehistoric Stone Circle Over 4,500 Years Old Discovered Near Stonehenge
A huge, previously undiscovered prehistoric monument has been unearthed just a stone's throw from Stonehenge . But geophysical surveys allowed scientists to "join the dots and see there was a pattern on a massive scale".

‘Cobra Kai’ with Ralph Macchio and William Zabka Moves to Netflix
In Cobra Kai , Ralph Macchio and William Zabka revisit their star-making roles from the iconic film franchise, The Karate Kid . We heard some time ago that Cobra Kai was looking to move away from YouTube, and now it's 100% official.

American museum to remove Roosevelt statue; Trump opposes
According to the its website the statue was commissioned in 1925 to be erected on the museum's steps and was unveiled in 1940. Activists opposed to symbols of colonial expansion and racial discrimination have wanted the statue removed for many years.