Trump renews his trade threats against China
President Donald Trump threatened again to increase tariffs against Chinese goods.
Trump said his administration will increase tariffs on Chinese imports if China does not sign the first phase of the trade deal.
Which came after news that the trade talks are facing several hurdles on the way for a final deal, including the volume of China's pledge to increase US farm purchases, and concerns in Beijing about canceling the tariffs.
US officials have expressed their hopes that the first phase trade deal will be signed in this month or the next, and in case that didn't happen the Trump administration will increase tariffs on December 15.
Steel falls despite looming production curbs
Steel prices fell today, to wipe out earlier gains, despite prospects for thigher restrictions and regulations on the steel industry to reduce air pollution all over the world especially in China.
China's steel stockpiles declined while demand rose, which in turn lifted steel prices.
The Chinese government plans to impose more production and emissions restrictions on China's steel mills as much as possible, according to reuters.
This came amid Beijing's expectations of severe weather conditions next year, especially in the northern provinces.
China has almost half the global steel supply, and already curbed more than 150 million tonnes in the past 3 years during its war against air pollution.
Steel prices at the NYSE fell by 0.3% to $1,011.1 per tonne as of 14:28 GMT, with a high of $1011.7, and a low of $1000.5.
US stocks edge higher to record highs
Most US stocks opened slightly higher today, to continue their upside to fresh record highs, amid optimism about trade talks.
Officials from the US and China are in close contact to reach a common understanding regarding the signing of the first phase trade deal, which is expected soon.
US officials expressed their hopes about the deal, while their Chinese counterparts doubt Washington's intentions to roll back Chinese tariffs.
The US Department of Housing showed today that the building permits rose to 1.46 million in October, and the housing starts rose to 1.31 million.
As for trading, Dow Jones fell by less than 0.1% or 22 points to 28.015 as of 14:58 GMT, and Nasdaq rose by 0.1% or 7 points to 8,557, while S&P 500 steadied at 3,123.
US housing starts rise in October
At 13:30 GMT, he US economy released its reading for the housing starts in October, at 1.31 million, slightly less than forecasts of 1.32 million, but better than the previous reading revised to 1.27 million from 1.26 million. This data is positive for the US economy.