Dow drops 400 points as sell-off accelerates ahead of China tariff deadline.
fueling worries the U.S. and China will be unable to hatch a trade agreement before new tariffs go into effect at midnight on Thursday.
Liu He, China's vice premier and top trade negotiator, will dine with U.S. Trade Representative Robert Lighthizer and other U.S. officials Thursday evening in Washington, just hours before the new tariffs are imposed. Liu is not expected to meet with Trump on Thursday, CNBC reported. Thursday is"a pivotal day," said Ed Mills, public policy analyst at Raymond James, in a note."We believe Chinese officials will be looking to delay Friday's tariff increase in order to continue conversations as to the appropriate level of commitments in key areas. However, the market reaction over the last couple days gives Trump some leeway to maintain an aggressive tone."
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