US President Donald Trump announced tariff cuts on fentanyl-related products from China, reducing them from 20% to 10%. This decision is part of an agreement reached at a summit in South Korea last October. This move aims to ease trade tensions between the world's two largest economies. Trump also announced a freeze on reciprocal tariffs imposed on Chinese goods. This freeze will remain in effect, providing some relief to companies engaged in international trade with China. This policy is expected to help ease trade tensions that have persisted for the past few years. This tariff cut will...
Three top aides to US President Donald Trump will meet with their Chinese counterparts in London on Monday for talks aimed at resolving a trade dispute between the world's two largest economies that has unsettled global markets. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will represent the United States in the talks, Trump announced in a post on his Truth Social platform without providing further details. China's foreign ministry said Saturday that Vice Premier He Lifeng would be in Britain between June 8 and June 13,...
China's Consumer Price Index (CPI) dropped at an annual pace of 0.1% in May after declining 0.1% in April, the National Bureau of Statistics of China reported on Monday. The market consensus was for a 0.2% decrease in the reported period. Chinese CPI inflation came in at -0.2% MoM in May versus April's 0.1% increase. China's Producer Price Index (PPI) fell 3.3% YoY in May, following a 2.7% decline in April. The data came in lower than the market consensus of 3.2%. Market reaction to China's inflation data At the press time, the AUD/USD pair is up 0.30% on the day to trade at...
Top U.S. and Chinese officials will sit down in London on Monday for talks aimed at defusing the high-stakes trade dispute between the two superpowers that has widened in recent weeks beyond tit-for-tat tariffs to export controls over goods and components critical to global supply chains. At a still-undisclosed venue in London, the two sides will try to get back on track with a preliminary agreement struck last month in Geneva that had briefly lowered the temperature between Washington and Beijing and fostered relief among investors battered for months by U.S. President Donald Trump's...
According to the US Bureau of Labor Statistics on Friday (02/05), US nonfarm payrolls rose to 139K in April. This figure is up from the estimate of 138K. Meanwhile, Average Hourly Earnings m/m data increased by 0.4% and Unemployment Rate is not change at 4.2% Source: Newsmaker
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 President Xi. The two leaders had a call yesterday and agreed to resume trade negotiations, but the absence of concrete progress kept markets on edge. Meanwhile, traders were also awaiting the latest US jobs report. In Europe, the ECB cut interest rates as widely expected, but President Lagarde signaled that the rate-cutting cycle may have reached its end. On the data front, exports and industrial...
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 announced tariff cuts on fentanyl-related products from China, reducing them from 20% to 10%. This decision is part of an agreement reached at a summit in South Korea last...