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US stocks weaken as Trump cautions on reports of tariff rollback

Peter Wells in New York

US stocks dipped into the red after Donald Trump poured cold water on the idea Washington and Beijing had agreed to roll back tariffs amid the trade war between the world’s two biggest economies. Media reports on Thursday that the US and China would roll back levies helped support a global stock market rally and pushed Wall Street’s three main equities gauges to record high closes. The US president told reporters on Friday morning, though, he had not agreed for the US to roll back tariffs on Chinese imports, but reiterated Beijing still wanted to make a trade deal.