The way President Donald Trump sees it, beating China in a trade war should be easy. After all, his logic goes, the Chinese sell Americans three times as much stuff as Americans sell them. Therefore, they have more to lose. Inflict enough pain, like the combined 145% taxes he slapped on Chinese imports last month, … Read more
Talks planned this weekend between US and Chinese officials in Switzerland are a culmination of more than three months of dizzying rounds of retaliatory tariffs between the two countries that have crippled each other’s exporters and dragged on their economies. Washington and Beijing are entering talks with tariffs on each other’s goods at an all-time … Read more
President Xi Jinping will use his state visit to Moscow this week to showcase his tight ties with Russian counterpart Vladimir Putin, and capitalize on a trade war that’s isolating Washington.During his four-day trip starting Wednesday, Xi will hold his first in-person talks with President Putin since Donald Trump unleashed America’s highest tariffs in a … Read more
The United States on Friday ended a tariff exemption for goods shipped from China worth less than $800, dealing a major blow to popular e-commerce sites such as Shein and Temu, whose cheap items consumers have come to rely on.The decision was announced last month, with the White House calling it a “critical step in … Read more
American businesses are cancelling orders from China, postponing expansion plans and hunkering down to see what trade policy surprises President Donald Trump plans to spring on them next. The president’s massive and unpredictable taxes on imports seem likely to mean emptier shelves and higher prices for American shoppers, perhaps within weeks. And the higher costs … Read more
China on Wednesday removed Vice Commerce Minister Wang Shouwen from his role as trade negotiator and replaced him with a former Chinese representative to the World Trade Organization, amid an escalating tariff war with the United States. Li Chenggang, 58, who previously served as Assistant Commerce Minister during the first Donald Trump administration, has taken … Read more
President Donald Trump didn’t seem to mind as his worldwide tariffs set off stock market sell-offs and wiped out trillions of dollars in wealth. “Be cool,” he told Americans. Then he blinked Wednesday afternoon in the face of financial turmoil — particularly, a rapid rise in government bond yields that could shake the dominant position … Read more
A dizzying escalation of tariffs has unraveled a trade relationship between the United States and China forged over decades, jeopardizing the fate of two superpowers and threatening to drag down the world economy. The brinkmanship displayed by the two countries has already far exceeded the battles they waged during President Donald Trump‘s first term. In … Read more
In a major development, US President Donald Trump announced on April 9 a 90-day ‘pause’ on reciprocal tariffs for all but China. “Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. … Read more
Beijing: The set of 34% tariffs imposed by US President Donald Trump on Chinese exports could hit China’s GDP by two to 2.5 percentage points, further affecting the Chinese economy which is struggling with slowdown, a top Chinese Economist said. Larry Hu, chief China economist at investment bank Macquarie, estimated that the duties could lower … Read more