The United States and China failed on Wednesday to agree on major new steps to reduce the US trade deficit with China, casting doubt over President Donald Trump's economic and security relations with Beijing. Trump said that this would lead to better trade terms for China. Shares of United States Steel Corp closed up 4.8 per cent, while AK Steel rose 3.6 per cent and Nucor rose 2.2 per cent. Trump, asked by a reporter at the White House after the stock market closed whether he would impose steel tariffs, said: "Could happen." Potential steel tariffs, which could be announced in the coming weeks, were expected to be a difficult topic in the US-China talks.

Source: The Star July 20, 2017 04:30 UTC