US Trade Representative Robert Lighthizer and State Secretary Steven Mnuchin said China had rejected previous commitments this weekend, undermining progress towards a detailed trade agreement.
From Friday, the $ 200 billion penalty of Chinese goods will be lifted to 25% from 10%. President Donald Trump has also warned that he could tax almost all Chinese exports to the United States.
The big question for investors is whether a deal can be saved when Chinese officials arrive in Washington later this week. Beijing still sends its top dealer dealer.
Tuesday's stock markets stabilized after a sharp sale on Monday. US markets were also able to recover most of their lost ground after a steep start.
2. BMW hammered: The German car manufacturer reported a sharp decline in profits and set aside funds to pay for potential EU antitrust funding.
BMW's first-quarter earnings fell 78% to € 589 million ($ 660 million) and the automotive industry posted a loss.
The car manufacturer warns that business conditions are expected to remain volatile for the rest of the year, and it cited uncertainty over Brexit and international trade policies as risk. Stocks fell 1% in Frankfurt.
Occidental has offered $ 76 per share for Anadarko, of which $ 59 is cash. Chevron has until May 10 to make a bid, even though this deadline could be extended.
The bidding war for Anadarko reflects a strong desire from US oil companies to acquire America's best shale shares. Occidental is already the oil producer No. 1 in the great Permian Basin.
Tuesday – US JOLTS; Anheuser-Busch InBev ( and ) Papa Johns ( income )
Wednesday ]] – SALT Conference; GE ( annual meeting )
Thursday – SALT Conference; China consumer price inflation; US unemployed claims and trade data for March; Ford ( annual meeting )
Friday – US Consumer Price Growth; British GDP; Marriott ( earnings )