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...
The leaders of Cambodia and Thailand met in Malaysia on Monday (July 28) to try to reach a ceasefire agreement on the fifth day of their fierce border conflict, amid international efforts to halt the fighting. The Southeast Asian neighbors, engaged in their deadliest conflict in more than a decade, accused each other of starting the fighting last week, before escalating it with heavy artillery bombardment and Thai airstrikes along their 817-km (508-mile) land border. Photos from the Thai and Malaysian governments showed the Chinese and U.S. ambassadors to Malaysia attending Monday's...
The United States and European Union have reached a landmark trade agreement that includes a 15% tariff on EU goods entering the U.S., President Donald Trump announced Sunday while in Scotland. The broad-strokes deal encompasses significant EU purchases of U.S. energy and military gear, along with substantial investments in the American economy. According to Trump, the European Union has committed to purchasing $750 billion worth of energy from the United States. He also stated that the EU has agreed to make $600 billion in investments in the U.S. "They are agreeing to open up their...
European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as both sides aim to reach a trade deal before the August 1 deadline when 30% tariffs on the bloc's exports are due to take effect. After months of negotiations and back-and-forth diplomacy between Brussels and Washington, D.C., the two sides have zeroed in on a deal last week that will see the EU face 15% tariffs on most of its trade. Limited exceptions are expected to apply to aviation, some medical devices and generic drugs, some alcoholic beverages,...
US President Donald Trump is unlikely to follow through on his threat to impose 100% tariffs on countries buying Russian oil, as it would exacerbate politically damaging inflationary pressures. Similar threats against Venezuelan oil buyers have also met with limited success, particularly in China. This month, Trump said he would impose 100% secondary tariffs on countries buying Russian exports unless Moscow agrees to a major peace deal with Ukraine within 50 days, a deadline that expires in early September. The threat mirrors the March announcement that the US would impose tariffs on...
Orders placed with US factories for business equipment unexpectedly declined in June, suggesting companies remained cautious about capital spending due to trade and fiscal policy uncertainty. The value of core capital goods orders, a proxy for investment in equipment excluding aircraft and military hardware, decreased 0.7% last month after an upwardly revised 2% gain in May, Commerce Department figures showed Friday. Bookings for all durable goods — items meant to last at least three years and including orders for commercial aircraft and military equipment — fell...
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...