A new phase in the trade war. Washington slaps a fresh 15 per cent levy onto a range of Chinese goods while Beijing retaliates by imposing a 5 per cent tariff on U.S. crude oil. President Trump, however, is upbeat about talks later this month. Hong Kong sees a 13th consecutive weekend of pro-democracy protests with many turning violent. Demonstrators clashed with police, blocking roads and disrupting airport transport links. In Italy, designated Prime Minister Giuseppe Conte voices confidence over upcoming coalition talks but Five Star leader Luigi Di Maio sounds a more lukewarm tone, telling CNBC exclusively that his party will only enter a new government if its demands are met. And in the UK, Prime Minister Boris Johnson threatens Conservative MPs with deselection if they choose to side with opposition lawmakers in an attempt to thwart his Brexit plans.

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