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...
President Donald Trump said on Monday most trading partners that do not negotiate separate trade deals would soon face tariffs of 15% to 20% on their exports to the United States, well above the broad 10% tariff he imposed in April. Trump told reporters his administration will notify some 200 countries soon of their new "world tariff" rate. "I would say it'll be somewhere in the 15 to 20% range," Trump told reporters, sitting alongside British Prime Minister Keir Starmer at his luxury golf resort in Turnberry, Scotland. "Probably one of those two numbers." Trump, who has vowed to end...
The U.S. central bank, to President Donald Trump's chagrin, will likely leave interest rates unchanged at a policy meeting this week, but that's not to say there won't be a vigorous debate, with one if not two Federal Reserve governors possibly casting a rare dissent in support of lower borrowing costs. The majority of Fed policymakers, though, remain concerned that Trump's tariffs could undo progress on bringing inflation back to the central bank's 2% goal, outweighing for now worries about the labor market. The trade deal struck between the U.S. and Japan last week, with tariffs set at...
U.S. President Donald Trump set a new deadline on Monday of 10 or 12 days for Russia to make progress toward ending the war in Ukraine or face consequences, underscoring frustration with Russian President Vladimir Putin for the 3-1/2-year-old conflict. Trump has threatened both sanctions on Russia and buyers of its exports unless progress is made. The fresh deadline suggests the U.S. president is prepared to move forward on those threats after previous hesitation to do so. Speaking in Scotland, where he is holding meetings with European leaders and playing golf, Trump said he was...
US President Donald Trump said he would reduce the 50-day deadline he gave Russian leader Vladimir Putin to reach a ceasefire with Ukraine, saying he was disappointed with his counterpart over the ongoing war. "I'm disappointed with President Putin, very disappointed with him. So, we'll have to see, and I'll reduce the 50 days I gave him to a shorter time," Trump told reporters in Scotland on Monday as he welcomed British Prime Minister Keir Starmer for a meeting. Trump earlier this month issued a 50-day deadline and threatened severe economic sanctions against Russia if it did not end...
European governments and companies reacted with a mix of relief and concern on Monday (July 28th) to the framework trade agreement reached with US President Donald Trump. They acknowledged what they considered an unbalanced deal, but managed to avoid a deeper trade war. The agreement announced Sunday between the two countries, which account for nearly a third of global trade, will see the US impose 15% import tariffs on most EU goods – half the threatened tariffs, but much higher than Europe had hoped. However, many specific details of the deal remain unknown. "While awaiting the full...
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...