FTSE latest: London share prices PLUMMET amid US-China trade war fears

DEVELOPING: US-China trade uncertainty fuels market plunge

"If it is, we will get it done".

Trump "shared his vision of all automakers producing in the United States and creating a more friendly business environment", the White House said in a statement.

"President Xi and I want this deal to happen, and it probably will", he said.

Mr Xi and Mr Trump had "deep exchanges in a friendly and candid atmosphere", setting the direction for an appropriate resolution to the problems between the two countries, Mr Wang said, in a statement carried on the foreign ministry's website. "It will always be the best way to max out our economic power", he said. That's a worst-case scenario that would immediately establish tariffs and customs checks on hundreds of billions of dollars in exports between Britain and the 27 other European Union nations.

"The president has a point", Diess said, saying officials "tried to convince us to invest more into America and we are prepared to do this".

In a subsequent tweet, Trump said he would "happily sign" a "fair deal" that addresses United States concerns, should one be reached with Beijing. Let the negotiations begin.

It wasn't clear whether the preparations meant China would cut the retaliatory tariffs it imposed on those products, or when the purchases would happen.

Imports of American soybeans fell by 95% in October YoY and LNG imports were virtually non-existent after the tariffs were imposed. Ben Sasse, one of his party's few Trump critics.

Global growth was already slated to slip to 3.5% next year from 3.7% even without accounting for the risks of escalating USA tariffs and China's counter-tariffs, according to estimates by the Organization for Economic Cooperation and Development, an intergovernmental think tank of 36 nations.

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Hopes were buoyed when Trump told reporters in Argentina that he had reached an "incredible" deal with Xi, the president following that up with a tweet saying, "China has agreed to reduce and remove tariffs on cars coming into China from the U.S. now the tariff is 40%".

The two leaders held high stakes discussions on the sidelines of the G-20 meeting in Buenos Aires last week and agreed to a ceasefire in their trade war.

The White House has alleged that China pledged to purchase a "very substantial" amount of agricultural, energy, industrial and other products from the USA, to help narrow the current trade deficit. But U.S. exports of the product have drastically decreased after China slapped retaliatory duties of 25 percent on the product this spring. Xi, in a move disconnected to the trade war, agreed to designate the synthetic opioid fentanyl as a controlled substance, meaning that shipping it to the United States will be subject to jail terms or even execution.

Details regarding China's pledge to buy more American products - one that it has made before - remain scant.

German automakers said after the meeting they told Trump they planned to boost USA investments, but warned they would be unable to do so if the administration imposed new tariffs.

All major USA stock indices dropped more than three percent - a sharp fall after Wall Street rallied on Monday on news of the ceasefire.

Meanwhile, as Trump and White House officials tout the truce, Beijing has said little on a pact that cheered markets but left many questions unanswered.

The U.S. embassy in Beijing posted a Chinese version of the White House's readout of the meeting on the popular WeChat platform on social media, but reposting it was not possible.

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