China criticizes UK-US trade agreement; Aviva’s £3.7 billion purchase of Direct Line faces competition investigation – business live
Good morning, and welcome to our ongoing coverage of business, financial markets, and the global economy. Reports suggest that China is taking aim at the recent trade agreement between the UK and US, which may effectively push Chinese products out of British supply chains. This trade deal, announced last Thursday, is the first one finalized […]
China and the US Cut Significant Tariffs on Each Other, but Is the Trade Conflict Resolved?
US-China Trade Tensions Ease Temporarily Washington and Beijing agreed to pause their intense trade conflicts on Wednesday after several days of negotiations. This suspension comes amidst a trade war that has significantly impacted global markets and supply chains. During talks in Geneva, the US agreed to reduce tariffs on Chinese goods to 30%, while China […]
Trump describes the ‘most thrilling aspect’ of the China trade deal.
Following the completion of the first 100 days of his second term, President Donald Trump continues to push forward, highlighting several historic achievements, including a trade truce with China. “I’m busy, but we’re enjoying things because we’re getting things done,” Trump shared during an exclusive interview with Fox News host Sean Hannity while en route […]
Trump Administration Reduces Tariffs on Small Packages from China, Mainly Impacting Shein and Temu
Presidential Order on Tariff Adjustments with China On Monday, the tariffs on minimal shipments from China were lowered to 54% or $100, whichever is less. This change comes after previously set tariffs of 120% or $200 were put in place for de Minimis shipments back in February. The DE Minimis exemption was first introduced in […]
China trade agreement will be a model for other nations.
Kevin O’Leary, a businessman, expressed his belief that upcoming trade agreements between the United States and China will set a precedent for other nations. His remarks came shortly after the two largest economies reached an agreement to reduce tariffs on imports for a period of 90 days. “What I see is a 10/10 arrangement that […]
Treasury Department imposes sanctions on over 20 companies for supplying Iranian oil to China
The Ministry of Finance announced on Tuesday that it has authorized a network of over 20 companies alleged to have supplied Iranian oil to China. The Office of Foreign Assets Control (OFAC) revealed that billions in oil have been dispatched to Beijing for Iran’s military leadership and its primary commercial partner, Sepere Energy. “Today’s measures […]
China Displeased With Pakistan Regarding Ceasefire Approach? Analyzing the Timeline
New Delhi: Following a series of escalations involving Pakistan and India during Operation Sindoor—an effort targeting terrorists in response to a Pakistan-linked attack in Pahargam—the focus shifted dramatically with the announcement of a ceasefire. Four nations—India, Pakistan, the US, and China—issued statements around the ceasefire, but each had its unique narrative. Notably, India confirmed that […]
Trump administration reducing tariffs on small shipments from China
The Trump administration has lowered tariffs on small packages imported from China, reducing them from 120% to 54% as a result of a three-month trade truce with Beijing. The White House revealed these changes following a Presidential Order issued on Monday, which adjusts the “de minimis” tariffs on low-value imports from China. Now, small packages […]
China ends Boeing ban as agreement reduces trade tensions, report
China has lifted a month-long ban on Boeing deliveries following a trade truce with the United States, according to reports. Officials in Beijing have informed local airlines and agencies that they can start receiving U.S.-made aircraft again. A knowledgeable source indicated this to Bloomberg. Chinese airlines now have the flexibility to decide when they want […]
China Addresses Fentanyl as a US Problem, Labels Punitive Tariffs as Unfair
Trade tensions between the U.S. and China seem to be cooling down a bit, with both countries indicating they would reduce tariffs significantly. Beijing: China’s Foreign Ministry has responded to the punitive tariffs established by the U.S., asserting that Washington bears responsibility for the fentanyl crisis. During a regular press briefing, spokesperson Lin Jiang emphasized […]