President Donald Trump said he’s open to extending a March 1 deadline to raise tariffs on Chinese products if the two sides are near an agreement, sending a conciliatory signal amid talks to resolve the trade war between the world’s two biggest economies.US tariffs on US$200 billion worth of imports from China are scheduled to rise to 25 per cent from 10 per cent if the two sides cannot reach a deal by the deadline, increasing pain and costs in sectors from consumer electronics to agriculture.

Brexit: Bank of England Governor Mark Carney said on Tuesday Britain should be under no illusions about the likely shock to its economy if it leaves the European Union next month without a transition deal to ease the shock. The United Kingdom is on course to leave the European Union on March 29 without a deal unless Prime Minister Theresa May can convince the bloc to amend the deal she agreed in November and then sell it to sceptical British lawmakers.

Federal Reserve Chairman Jerome Powell said the U.S. economy is “strong” though its benefits haven’t been felt evenly across the country. “Today, data at the national level show a strong economy,” Powell told students Tuesday at Mississippi Valley State University. “Unemployment is near a half-century low, and economic output is growing at a solid pace.”

SGX’s Securities daily average value up 18 per cent a month ago to S$986 million but a 26 per cent decline over year-ago levels. In the derivatives market, the total volume at 18.61 million was up 1 per cent month-on-month and up 3 per cent year-on-year.

Source: Bloomberg, The Business Times