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Asian stocks climbed and the yen retreated after President Donald Trump said that the US-China trade deal is intact, easing doubts sparked by reported comments from a senior adviser.
Stocks slid and U.S. equity futures retreated as investors braced for tensions between Washington and Beijing to escalate after China announced plans to impose a national security law on Hong Kong.
China reiterated a pledge to implement the first phase of its trade deal with the U.S. despite setbacks from the coronavirus outbreak, and as tensions escalate between the world’s two biggest economies.
(Dec 23): China cut import tariffs on a wide range of goods including food, consumer items and parts for manufacturing smart-phones, continuing Beijing’s drive to lower trade barriers and spur domestic demand.