The United States and China agreed to roll back some of the punitive measures they had taken against each others’ economies and return to a trade truce reached in May, officials from both countries said on Tuesday. After two days of marathon negotiations in London, top economic officials from the United States and China are … Read more
China’s trajectory couldn’t be more different. It already leads global production in multiple industries — steel, aluminum, shipbuilding, batteries, solar power, electric vehicles, wind turbines, drones, 5G equipment, consumer electronics, active pharmaceutical ingredients and bullet trains. It is projected to account for 45 percent — nearly half — of global manufacturing by 2030. Beijing is … Read more
For Prime Minister Keir Starmer of Britain, the road to a first-in-the-world trade deal with the United States began on a late winter afternoon when he arrived in the Oval Office, bearing a letter for President Trump. It was from King Charles III, inviting Mr. Trump for a rare second state visit to Britain. It … Read more
China’s central bank cut interest rates and made it easier on Wednesday for banks to increase lending and pump more money into the economy, in the most significant policy steps taken by Chinese officials to limit the impact of the trade war with the United States. The central bank, the People’s Bank of China, cut … Read more
Markets slipped on Thursday, reversing some of the gains from a heady two-day rally, after officials in China said they were not holding talks with the United States about easing trade tensions between the superpowers. Stocks in Asia were mixed, while benchmarks in Europe turned mostly lower in early trading. Futures for the S&P 500 … Read more
Wading into the trade war, Hong Kong said on Wednesday that its postal service will no longer send packages to the United States. It is the city’s first move in a spiraling tit-for-tat trade war between China and the United States that is reordering global shipping routes. President Trump this month ordered the closure of … Read more
The U.S. dollar extended its slide against other major currencies on Monday, the latest sign that investors may be starting to shun what has long been the safest haven in global financial markets. An index that tracks the dollar against a basket of major trading partners fell for a fifth straight day, even as U.S. … Read more
Britain has watched President Trump’s tariffs with a mix of shock, fascination and queasy recognition. The country, after all, embarked on a similar experiment in economic isolationism when it voted to leave the European Union in 2016. Nearly nine years after the Brexit referendum, it is still reckoning with the costs. The lessons of that … Read more
In May 2017, just a few months into the first Trump administration, I wrote a column arguing that his incapacity was so obvious and destructive that he should be removed from office via the 25th Amendment to the Constitution. This was a popular column, but its argument did not hold up well. Trump’s first-term White … Read more
President 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 on Wednesday afternoon in the face of financial turmoil, particularly a rapid rise in government bond yields that could shake the dominant position of … Read more