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 Trump offered some fresh comments on trade deals Tuesday, suggesting he is in no real hurry to sign any deals despite the clock ticking on the 90-day reciprocal tariff pause. "Everyone says 'when are you gonna sign deals?," Trump commented today at the White House. "We don't have to sign deals." Trump indicated that the U.S. could sign numerous deals immediately but chooses to prioritize the nation's interests, stating that other countries need the U.S. market more than the U.S. needs theirs. More and more, it is looking like Trump will not offer free trade agreements, but all...
The Trump administration has declared Harvard University ineligible for new federal research grants in the latest escalation between the White House and the Ivy League school. Education Secretary Linda McMahon will send a letter warning the university that access to additional federal funding will be blocked until "they demonstrate responsible management," according to an administration official who reviewed the move on condition of anonymity. Harvard will need to negotiate with the administration to resume eligibility, the official added. The official said the move could affect more than...
U.S. President Donald Trump on Sunday announced a 100% tariff on movies produced outside the country, saying the American movie industry was dying a "very fast death" due to the incentives that other countries were offering to lure filmmakers. "This is a concerted effort by other Nations and, therefore, a National Security threat. It is, in addition to everything else, messaging and propaganda," Trump said on Truth Social. Trump said he was authorizing the relevant government agencies, such as the Department of Commerce, to immediately begin the process of imposing a 100% tariff on all...
The ISM Services PMI unexpectedly jumped to 51.6 in April 2025 from a nine-month low of 50.8 in March and below forecasts of 50.6. New orders (52.3 vs 50.4) and inventories (53.4 vs 50.3) grew at a faster pace and business activity remained in expansion territory (53.7 vs 55.9) while employment continued to contract although at a slower pace (49 vs 46.2). Source: Trading Economics
U.S. President Donald Trump on Sunday said the U.S. was meeting with many countries, including China, on trade deals, and his main priority with China was to secure a fair trade deal. Trump told reporters aboard Air Force One that he had no plans to speak with Chinese President Xi Jinping this week, but U.S. officials were speaking with Chinese officials about a variety of different things. Asked if any trade agreements would be announced this week, Trump said that could "very well be" but gave no details. Trump's top officials have engaged in a flurry of meetings with trading partners...
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...