Global Markets: U.S. imposes visa restrictions on Chinese officials

By MarketsFarm

WINNIPEG, Oct. 9 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Ahead of United States/China trade talks, the U.S. imposed visa restrictions on some Chinese officials, casting a dark cloud over the negotiations. The U.S. took the measure on Tuesday reportedly in response to China’s treatment of Muslim minorities. As well, the U.S. recently blacklisted eight Chinese companies from doing business in the country. China denounced the measures as “made-up pretexts,” for the U.S. to meddle in domestic affairs, according to Reuters. Two days of top-level trade negotiations begin Thursday in Washington.

– The European Union denied reports on Wednesday of it having made a major concession to the United Kingdom regarding the so-called Irish backstop. The Times reported there had been a breakthrough in Brexit talks, but a number of EU officials dismissed the report. One senior EU official said the Irish backstop had not been part of discussions between top U.K. and EU negotiators. Presently there isn’t a hard border between Ireland and Northern Ireland, which is part of the U.K. However, should the latter depart the EU a hard border would likely return.

– An opinion poll commissioned by the Healthcare of Ontario Pension Plan found that 80 per cent of Canadians prefer a stronger pension plan over pay increases. Also that 83 per cent of respondents want the federal government to modernize pension rules. It also found that 44 per cent have access to a workplace pension plan, and 49 per cent who don’t have such a plan haven’t been saving for retirement. The poll by Abacus Data surveyed 2,500 Canadians.

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