Washington — US job growth slowed in July and wages picked up moderately, which together with an escalation in trade tensions between the US and China could give the Federal Reserve ammunition to cut interest rates again in September.

The labour department’s closely watched monthly employment report on Friday came a day after President Donald Trump announced an additional 10% tariff on $300bn worth of Chinese imports starting on September 1, a move that led financial markets to almost fully price in a rate cut in September...

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