New York (CNN Business) The Dow closed sharply in the red — marking its third day of losses — after President Donald Trump said a trade deal with China might not be accomplished until after the 2020 election. Trump on Tuesday suggested to reporters in London that a trade deal with Beijing might come much later than many expected, saying "in some ways I think it's better to wait for after the election if you want to know the truth." Commerce Secretary Wilbur Ross told CNBC that delaying a trade deal could take leverage from China. Ross added that it was important the president made clear that he wasn't under any time pressure to get a deal done. The secretary also said that US import tariffs would continue unless there was a deal.

Source: CNN December 03, 2019 14:39 UTC