Coronavirus Update: Navarro Walks Back U.S.-China Trade Talk Comments

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Good morning, it’s Tuesday, June 23. Here’s your daily coronavirus update.

There are over nine million cases of the virus worldwide, with over 472,000 deaths.

The U.S. has over 2.3 million cases with over 120,000 deaths.

Brazil has 1.1 million cases and 51,000 reported deaths.

Late last night, futures started tumbling after Peter Navarro, who’s been negotiating on the trade deal with China alongside President Trump, told Fox that the trade deal was “over”

Navarro told Fox that the Chinese“ came here on January 15th to sign that trade deal, and that was a full two months after they knew the [coronavirus] was out and about.”

He then continued to say, "...it was just minutes after wheels up when that plane [with the Chinese delegation] took off that we began to hear about this pandemic."

To give some clarity on the comments, per my own reporting and checking multiple timelines, there were reports of a new virus on or around December 31 but the details were vague and Chinese health authorities said that they were monitoring the outbreak. Then, on Jan. 11, the first death was reported in China.

“The China Trade Deal is fully intact. Hopefully, they will continue to live up to the terms of the Agreement,” President Trump tweeted last night.

Navarro then said, “My comments have been taken wildly out of context. They had nothing at all to do with the Phase I trade deal, which continues in place. I was simply speaking to the lack of trust we now have of the Chinese Communist Party.”

Futures are now firmly in the green as we head into the opening bell.

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