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Trade hopes were boosted by comments from the US and China earlier in the week, only to be stamped out after the signing of an American law that supports Hong Kong autonomy was criticized by China vowing retaliation. The prolonged trade war has been a drag on global growth, and with the December 15 deadline for a new round of tariffs, it's unclear if even a limited phase one deal can be achieved this year. President Trump will be in London for a NATO meeting with an eye on China's backlash.