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“European auto imports discussion is on hold while the US is working through good faith effort on the trade deal with the EU,” White House economic adviser Larry Kudlow said on Friday and added that there have been new proposals put on the table that could lead to positive developments.

“China’s Xi reassured President Trump that despite delays, China will meet targets for US Imports,” Kudlow noted and said that there were no tensions between the US and China over the coronavirus outbreak.

Market mood remains sour

These comments failed to help the market sentiment improve and Wall Street’s main indexes were last losing between 0.5% and 0.6%.