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5 things you need to know today

1. Indonesian President Joko Widodo is set to lead a group of nations, including Australia, at the G20 summit that are seeking to ensure the trade war between the US and China does not impacts the push for reform of World Trade Organisation rules, the AFR reported.

2. Trade representatives from all 10 members of ASEAN as well as China, Japan, South Korea, Australia, New Zealand and India will meet in Melbourne on Friday to negoatiate the proposed Regional Comprehensive Economic Partnership, described by trade minister Simon Birmingham as "one of the most economically significant trade agreements in the world" according to a report by The Sydney Morning Herald and The Age.

3. Scott Morrison is set to meet with Donald Trump tonight for a working dinner on the eve of G20. "From efforts to relieve the strains on our global trading system to greater digitalisation and the need for social media companies to step up to better protect our citizens, the US and Australia have significant roles to play," Morrison said.

4. US Treasury Secretary Steven Mnuchin has told CNBC that the US and China have progressed "about 90% of the way" towards making a trade deal ahead of a meeting between Donald Trump and Xi Jinping at the G20 summit on Saturday.

5. The Dow Jones fell 0.04% to 26,536.82 and the S&P 500 closed down 0.12% to 2,913.78, while the Nasdaq gained 0.32% to 7,909.97.

Published on: Thursday, June 27, 2019

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