Trump weighs slashing China tariffs to 50% to 65%: report
The White House is considering 145% tariffs on Chinese imports, or even half, in some cases, if they are more than half. President Trump’s massive tariffs on China – could raise the price of US goods and hinder the company’s revenue, but could be reduced from 50%, a senior White House official to 65% He […]
Bessent aims to de-escalate China trade war: ‘The current status quo is unsustainable’
Treasury Secretary Scott Bescent said the current state of the US trade war with China is “unsustainable” and informs support for de-expansion between the two countries. When asked whether China’s tariffs would collapse, Bescent told reporters during a media roundtable Wednesday that “both sides believe the current situation is unsustainable.” The US imposes a 145% […]
China stresses 'equality, respect' amid Trump optimism on trade deal
China on Wednesday emphasized that “equality, respect” is the most important factor in debates with the US, in optimism about President Trump reaching a new trade deal between the two biggest economies in the world. Guo Zi-Kung, a spokesman for China’s Foreign Ministry, said the intensification of the trade war between Beijing and Washington would […]
China Pressures South Korea to Limit Rare-Earth Product Exports to U.S.
South Korea’s leading financial newspaper reported on Tuesday that China’s Ministry of Commerce had sent a letter to South Korean companies threatening them from using Chinese rare earth minerals to export to the US military, according to an anonymous industry source. Korea has dramatically increased its profile as a manufacturer of defense technology, and is […]
Bessent: There’s an opportunity for a ‘big deal’ with China
EJ Antoni, senior fellow at Unleash Prosperity, will discuss trade negotiations with China at Varney & Co. Treasury Secretary Scott Bescent on Wednesday said “big things” with China could potentially lower tariffs if Beijing is willing to take steps to restore the economy. Bessent gave a keynote speech at the International Institute for Finance (IIF) […]
US stocks rise after Trump says he won’t fire Powell, signals lower China tariffs
US stocks extended profits Wednesday morning after President Trump retreated back to the fire threat of FRED Chairman Jerome Powell, informing him that trade deals were ongoing with lower tariff rates. The Dow Jones industrial average scored 757 points (1.9%) after surged 1,016.57 points the day before, beating their four-day winning streak. The S&P 500 […]
Breaking News: Stocks Surge as Trump Proposes China Tariff Cuts; Rubio Absent from Ukraine Talks!
Stock markets rose early Wednesday after President Trump was reduced to tariffs of 145% on China. The market opened actively with the Dow Jones Industrial gaining over 700 points, while the S&P 500 and Nasdaq Composite also saw substantial gains, both increasing by approximately 2%. “145% is extremely high. It’s really not that high. It’s […]
China Condemns Pahalgam Attack That Killed 26, Offers “Sincere Sympathies”
China strongly condemned the attack. Beijing: Beijing’s foreign ministry offered “honest sympathy” on Wednesday following attacks on tourists in Jammu and Kashmir who killed dozens of people. “We mourn the victims and spread honest sympathy to the victims’ families and the injured,” said Guo Zi-Kung, a spokesman for the Ministry of Foreign Affairs, who added […]
CNBC's The China Connection newsletter: U.S. regulatory scrutiny fans Chinese stock delisting fears – CNBC
The monitor will display Alibaba Group Holding Ltd. Signage on the floor of the New York Stock Exchange (NYSE) in New York, USA on Wednesday, January 30, 2019. Bloomberg | Bloomberg | Getty Images This report comes from this week’s edition of CNBC’s The China Connection Newsletter and brings insights and analysis into what drives […]
Trump Signals Step Back On China Tariffs, Says They’ll ‘Come Down Substantially’
President Donald Trump signaled the US to ease Chinese tariffs from his oval office Tuesday evening, saying that “a big fall” would not be completely eliminated. On April 2nd, Trump announced mutual tariffs in several countries. When asked about tariffs on foreign countries on Tuesday, Trump announced higher rates in countries like China due to […]