The daily business briefing: January 23, 2019

Tensions rise over preparations for a key U.S.-China trade meeting, the DOJ says it will pursue extradition of Huawei leader, and more

The Huawei sign in Vegas
(Image credit: David Becker/Getty Images)

1. Tensions rise ahead of key U.S.-China trade meeting

The White House reportedly rejected a preliminary meeting China proposed for this week ahead of looming high-level trade talks, signaling a lack of progress on some critical issues still dividing the world's two biggest economies. The news, along with fresh signs the global economy is weakening, broke a four-day winning streak for the main U.S. stock indexes. President Trump's top economic adviser, Larry Kudlow, denied that any scheduled meeting with Chinese government representatives had been canceled as the two countries try to reach a deal before a truce on new tariffs expires on March 1. Kudlow, director of the National Economic Council, said the high-level meeting in Washington next week would be "very, very important" and "determinative."

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