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 arrived in the Egyptian resort of Sharm El-Sheikh on Monday for a summit with several other world leaders aimed at ensuring the US-led ceasefire deal for Gaza turns into a real peace deal. The leader flew in from Israel, where he addressed the country's parliament and was praised for last week's agreement that resulted in a weekend ceasefire in Gaza and the release of 20 surviving hostages held in the Palestinian territory. They were freed on Monday, as were nearly 2,000 Palestinians held in Israeli jails. "They played a very important role, and they had a very...
President Donald Trump's administration on Sunday signaled openness to a trade deal with China, even as tensions escalated over Beijing's new export controls. The gesture followed Trump's Friday announcement of a sweeping 100% tariff on all Chinese imports starting November 1, in retaliation for China's restrictions on rare earth exports. Vice-President J.D. Vance urged Beijing to "choose the path of reason," arguing Trump holds more leverage if the dispute drags on. Trump struck a conciliatory tone on Truth Social: "Don't worry about China, it will all be fine! Highly respected President...
US President Donald Trump hit markets with a fresh tariff threat on Friday, continuing his lashout at China over their decision to impose even stricter export licensing requirements on foreign entities trying to move critical rare earths minerals out of China. Donald Trump declared via social media post that he will be imposing a new 100% tariff on all exports bound for the US from China, as Trump's bespoke playbook of hammering his own constituents to punish foreign nations continues to play out. How the Trump administration will achieve a new import tariff remains to be solved by other...
US consumer sentiment was little changed in early October as Americans expect scant improvement in the job market or inflation. The preliminary October sentiment index edged down to 55 from 55.1 in September, according to the University of Michigan. While the latest figure was the lowest in five months, it was firmer than the median projection in a Bloomberg survey of economists. Consumers expect prices to rise at an annual rate of 4.6% over the next year, compared with 4.7% a month earlier, according to the data released Friday. They saw costs rising at an annual rate of...
Israeli forces began withdrawing from parts of Gaza on Friday (October 10) under a ceasefire agreement with Hamas, and some residents returned to devastated neighborhoods, uncertain about their safety after two years of war. "Thank God, my house is still standing," said Ismail Zayda, 40, in the Sheikh Radwan area of Gaza City. "But this place is destroyed, my neighbor's house is destroyed, the whole district is gone." "Is it over? They say it is. Why doesn't anyone come out and tell us if there is a ceasefire so we can stop being afraid?" The Israeli government ratified the ceasefire...
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...