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Squawk Box anchors discuss the stock market rally in Asia and the U.S. with Wall Street recording its second-best day of the year. The strong performance comes after Federal Reserve Chairman Jerome Powell says the central bank is ready to ease policy amid rising trade tensions. Fed Vice-Chair Richard Clarida has told CNBC exclusively that he and his fellow policymakers will put in place policies to ensure the U.S. economy remains in a good place. Meanwhile, President Trump continues his state visit to the U.K., playing down differences between Washington and London over Huawei’s 5G rollout and promising a ‘phenomenal’ U.S.-U.K. trade deal once Brexit is achieved. He has also indicated he will forge ahead with slapping tariffs on Mexican goods despite opposition to the move from within his own party. And in Rome, joint deputy prime ministers Matteo Salvini and Luigi Di Maio agree to bury the hatchet and ease tensions to cooperate in the interests of political stability.