Many people in China cheered the meeting Thursday between President Xi Jinping and U.S. President Donald Trump, after months of escalating bilateral tensions. Every time the two leaders meet, it helps ease tensions and creates a "positive atmosphere," Alex Hongcai Xu, chair of Beijing Honglve Consulting, said in Mandarin, translated by CNBC. "This atmosphere is beneficial for negotiations." "Each side lowering tariffs to below 10% would benefit capital flows and cooperation," Xu said. He noted that China can likely buy more U.S. soybeans and U.S.-made Boeing airplanes. Trump said Thursday...
Wolfe Research said the latest call between U.S. President Donald Trump and Chinese President Xi Jinping underscored a thaw in relations but cautioned that tariff relief is unlikely in the near term. The firm described the September 19 call as the capstone to "a week of positive noises on the US-China relationship," with both sides issuing upbeat readouts. Trump highlighted Xi's approval of the TikTok deal framework and "productive" talks on trade, fentanyl, and Russia-Ukraine. Beijing's statement was "pragmatic, positive, and constructive" but also warned that "the US side should avoid...
India's Trade Minister Piyush Goyal will visit Washington today, September 22, to push forward a long-pending trade deal, following renewed talks last week. "The delegation plans to take forward the discussions with a view to achieving early conclusion of a mutually beneficial trade agreement," an official statement said. On September 16, U.S. Assistant Trade Representative Brendan Lynch met Indian officials led by Chief Negotiator Rajesh Agrawal in New Delhi. Talks were described as "positive" and "forward-looking" after President Trump softened his stance following punitive tariffs on...
Russian President Vladimir Putin signaled on Thursday that he is open to raising certain taxes, especially on the wealthy, as the government struggles to make ends meet in the fourth year of the war in Ukraine, Reuters reported. The draft budget is expected to be submitted to parliament on September 29. Sources told Reuters that the government is considering raising the value-added tax rate to keep the budget deficit in check and maintain reserves. Meeting with leaders of parliamentary factions, Putin said that measures such as a luxury tax or a higher tax on stock dividends could be...
President Donald Trump has asked the U.S. Supreme Court to allow him to fire Federal Reserve Governor Lisa Cook while he fights Trump's attempt to oust her. This has drawn the justices into a high-profile legal battle that has major implications for the independence of the U.S. central bank. The Justice Department asked the court on Thursday to at least temporarily delay a Washington federal judge's ruling allowing Cook to remain in office for the time being. The emergency request comes after the Fed held its final meeting earlier this week, which Cook attended. Last month, Trump said he...
According to a report from the US Department of Labour (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance went down to 231K for the week ending September 13. The latest print came in short of initial estimates (240K) and was lower than the previous week's 264K (revised from 263K). Additionally, the 4-week moving average decreased by 750, bringing it to 240K from the revised average of the previous week. The report indicated a seasonally adjusted insured unemployment rate of 1.3%, with Continuing Jobless Claims shrinking by 7K to...
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
US President Donald Trump said Thursday that he had agreed with President Xi Jinping to cut tariffs on China in exchange for Beijing cracking down on illegal fentanyl trade, resuming purchases of...