Dow Futures Down 130 Points, China Blames U.S For Failed Trade Talks,Google Facing Anti-Trust Probe

-China publishes white paper on trade consultations blaming U.S for failed trade talks

– “The restrictive measures the U.S. has imposed on China are not good for China or the U.S., and still worse for the rest of the world,” the white paper said.

-China’s exports to the United States fell by 9.7 percent year-on-year in the first four months of 2019

–  WTO has lowered its forecast for global trade growth in 2019 from 3.7 percent to 2.6 percent

-Whitepaper claims U.S. administration kept changing its demands in the previous negotiations

–  Chinese vice commerce minister Wang Shouwen denied U.S. accusations that China backtracked on its position in trade talks

– “Investors are generally of the view that the trade dispute could drag on for longer, but they appear to be overlooking its potential impact on the global macro outlook,” wrote Chetan Ahya, Morgan Stanley chief economist. 

–  FedEx could be one of the first companies to face blacklisting in China’s crackdown on what it deems “unreliable” entities

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