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Trade war

Trump gives Wall Street no clarity, calling China deal 'close'

President says tariffs will go up substantially if no deal is made

NEW YORK -- U.S. President Donald Trump said Tuesday that a phase 1 trade deal with China is "close" but threatened a further tariff hike if no agreement is reached.

"We're close," Trump said in a speech for the Economic Club of New York at a Hilton hotel in midtown Manhattan. "A significant phase 1 trade deal with China could happen -- could happen soon, but we will only accept a deal if it's good for the United States and our workers and our great companies because we've been hit very hard."

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