China 

US lifts tariffs on 400 Chinese products as Donald Trump cites ‘a lot of progress’ on trade

US President Donald Trump said his administration was “making a lot of progress” with China on Friday, as deputy-level trade talks continued for a second day and Washington lifted tariffs on over 400 Chinese products.Trump, speaking to reporters at a White House meeting with Australian Prime Minister Scott Morrison, said the United States was taking in billions of dollars from tariffs imposed on Chinese products, adding that the total would soon reach US$100 billion.“I will say this: we’re… Source link

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Global 

Trade war alone did not cause the slump in Asia’s export hubs, but Donald Trump ‘blocking’ recovery

For the first seven years she designed semiconductors, Cindy Tam was never able to explain exactly what she did for a living to her family.“The best they could understand was that it was something relating to computers,” said Tam, the engineering manager of Hong Kong-based chip designer, Canaan Semiconductor.That has changed over the past year, as the US-China trade war morphed into a battle over technology and US President Donald Trump banned Chinese telecoms giant, Huawei, from buying vital… Source link

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Global 

Donald Trump warns China faces ‘toughest trade war deal ever’ if they wait until after US election

US President Donald Trump has warned Beijing to make a trade war deal before the American presidential election next year otherwise “it’ll be the toughest deal anybody’s ever had to make from the standpoint of China”.Vice-minister for finance, Liao Min, will lead a Chinese delegation to Washington this week to set out China’s agenda for talks in October between Vice-Premier Liu He, US trade representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin.But China’s official media… Source link

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Donald Trump is waking up to the fact that ending the trade war with China will help him win in 2020

The rekindled hopes of a resolution to the trade war may be a reflection of a shift in attitude in the United States: a political calculation in the White House that some form of deal, whether interim or final, needs to be agreed with China to further the prospects of President Donald Trump’s re-election in 2020.This may seem an odd contention, given that Trump has asserted it is China that needs a deal. But, as economic headwinds related to the trade war increase potential political damage in… Source link

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China 

China’s lead negotiator puts ‘trade balance’ at top of agenda as Trump flirts with idea of ‘interim deal’

China’s top trade negotiator, Vice-Premier Liu He, has named the top items on the agenda for talks in Washington next month as the US-China “trade balance, market entry and investor protection”.The comments suggest that China will steer talks clear of more challenging issues such as structural reform and security issues, focusing instead on less deep-rooted issues such as purchases of American agricultural goods.Liu, the top economic aide to President Xi Jinping, made the comments in Beijing on… Source link

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Home 

Stocks Blog: Trump team sends signal of possible interim trade deal with China

Happy Friday traders and Happy countdown to Mid-Autumn Festival! So Bloomberg is reporting that the Trump folks are looking at a China light deal in which some US tariffs would be rolled back in return for Beijing agreements on intellectual property and agricultural purchases. Politico says Trump’s advisers are looking for an “escape hatch” for tariffs increases set to go into effect in coming months. A trade deal has felt very stuck in the mud, but, maybe …  The surprise bid by the Hong… Source link

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Trump adviser asked Microsoft why it wouldn’t spy for the US, company president reveals in new book

An adviser to US President Donald Trump once questioned Microsoft Corp for not spying on its users around the world on behalf of the government, the software giant’s president has revealed, as Washington continues its campaign against China’s Huawei Technologies over national security concerns.“As an American company, why won’t you agree to help the US government spy on people in other countries?” Brad Smith, Microsoft’s president and chief legal officer, recounted how he was asked by the… Source link

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China 

Donald Trump delays US tariff rate increase to avoid escalating trade tension on China’s National Day

The new 30 per cent tariff rate on US$250 billion worth of imports from China, from the existing 25 per cent rate, has been moved from October 1 to October 15 in recognition of the 70th anniversary of the founding of the People’s Republic of China, which falls on the earlier date, Trump said in a Twitter post. Photo: Handout Source link

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Stocks Blog: Trump delays next China tariffs for two weeks as 'gesture of goodwill'

Good day, traders. Lots of news since market close for traders to digest.  On the trade front, US president Donald Trump delayed new China tariffs by two weeks as a “gesture of good will” because they were to start on October 1, when celebrations will be held for the 70th anniversary of the founding of the People’s Republic of China. The Hong Kong Exchanges and Clearing Limited (HKEX) has made a surprise takeover bid for London Stock Exchange Group (LSE). We’ll be watching all the top moves… Source link

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