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Some US officials believe China is walking back trade concessions, Bloomberg News says


President Donald Trump, left, and China's President Xi Jinping arrive for a meeting on the sidelines of the G-20 Summit in Hamburg, Germany. 

Saul Loeb | AFP | Getty Images

President Donald Trump, left, and China’s President Xi Jinping arrive for a meeting on the sidelines of the G-20 Summit in Hamburg, Germany. 

Some U.S. officials fear that China is reneging on certain trade concessions, a Bloomberg News report on Tuesday said.

People familiar with the talks told Bloomberg that they are concerned China’s pushback and stalling discussions could threaten President Donald Trump’s chance at a boost ahead of his 2020 reelection bid.

Two others said that Beijing negotiators have shifted their stance because they haven’t received convincing assurances from Washington that U.S. tariffs imposed on Chinese exports would be lifted.

The report knocked stocks to their lows of the day and nearly sent the Dow Jones Industrial Average into negative territory on the session

The Bloomberg report did note that some U.S. officials believe China’s moves were normal.

This story is developing. Please check back for updates.



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