Global 

Commerce chief Wilbur Ross says no date for next round of US-China talks

This story is published in a content partnership with POLITICO. It was originally reported by Doug Palmer on politico.com on August 14, 2019.US Commerce Secretary Wilbur Ross suggested on Wednesday that the United States and China have not determined when to hold their next round of face-to-face trade talks.“I don’t believe a date has been set,” Ross said in an interview on CNBC. Instead, the next step in the long-running negotiations is “perhaps another phone call in a couple of weeks”.He made… Source link

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US-China trade war takes a breather as Beijing sees ‘positive signal’ in Donald Trump’s tariff delay

Escalating trade tensions between China and the United States eased slightly on Wednesday as Beijing hailed the decision by US President Donald Trump to delay or remove some planned tariffs against Chinese products as a “positive signal”.The small ceasefire, announced by Trump on Tuesday, came after Vice-Premier Liu He, China’s lead trade negotiator, talked with US trade representative Robert Lighthizer and US Treasury Secretary Mnuchin by phone on Tuesday.Liu, though, did lodge “solemn… Source link

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Huawei steps up lobbying efforts in Washington as US-China trade war escalates

Huawei Technologies has hired the law firm Sidley Austin to lobby on trade as the US pressures allies to join it in blacklisting the Chinese telecommunications giant, which finds itself increasingly mired in President Donald Trump’s trade war with Beijing.The lobbying, which began in July, will focus on export controls, trade sanctions “and other national security-related topics”, according to a disclosure filed with the US Senate. The document shows that Huawei, the world’s largest telecoms… Source link

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China 

Singapore economy tipped for recession as US-China trade war slams imports, exports, manufacturing

Singapore’s economy has been tipped to enter recession in the third quarter of 2019 as the fallout from the US-China trade war continues to rock the Southeast Asian nation after second quarter growth was confirmed at minus 3.3 per cent.The gross domestic product (GDP) figure released on Tuesday was a huge decline on the 3.8 per cent growth in the first three months of 2019, and the worst reported quarterly growth for seven years.On a year-on-year basis, the economy grew at just 0.1 per cent,… Source link

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Global 

US-China trade war takes heavier toll than expected, wreaking its biggest havoc in the fourth quarter, investment banks say

The US-China trade war, which has raged on for the 13th month last week, will wreak havoc on the world’s two largest economies in the fourth quarter as it takes a heavier toll than previously expected on growth, according to two investment banks.The United States economy faces rising fears of a recession, said Goldman Sachs, which cut its 2019 US growth forecast by 0.2 percentage point to 1.8 per cent in the final three months. China will feel the “biggest hit” from the latest round of proposed… Source link

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Stocks blog: How will markets react as US-China trade tensions reappear?

Trade tensions have reappeared overnight, in US trading hours, and could determine the direction Asian equities take on Friday.  Any comfort derived from stabilisation of the yuan by Beijing could also be short-lived as all eyes will once again shift to the daily reference rate against the US dollar. We – Azar Zaidi in Hong Kong and Zhang Shidong in Shanghai – will stay abreast of all developments through the day. Stay with us as we keep you updated about the bourses in Hong Kong and mainland… Source link

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China 

Global financial crisis, recession risks raised as US-China trade war tensions escalate over currency row

The global stock market rout deepened on Tuesday after the United States tagged China as a currency manipulator, fuelling analysts’ fears that the rapid escalation in trade tensions could spiral into a sharp global financial crisis and economic downturn.“We may well be at the most dangerous financial moment since the 2009 Financial Crisis with current developments between the US and China,” former US Treasury secretary Lawrence Summers tweeted on Tuesday.Summers warned that with the collapse in… Source link

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Global chip sales continue to decline as US-China trade war escalates

The Trump administration’s proposed new round of tariffs on US$300 billion of trade with China will encompass virtually all information technology products, including laptops, smartphones, solid state drives, video game consoles, printers, televisions and displays – which are all enabled by semiconductors. Photo: AP Source link

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Vietnam 

VN stocks fall on US-China trade news – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An investor watches stocks being traded on his cellphone. Vietnamese shares, along with global stocks, fell following escalation of  US-China trade tensions. — Photo tinnhanhchungkhoan.vn HÀ NỘI — Vietnamese shares dipped on Friday morning after global markets tumbled following the US president’s latest announcement on imposing more tariffs on Chinese goods. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange dropped 0.70 per cent to close at 990.45 points. The VN-Index in the previous two trading days had gained a total of 1.15 per cent. The HNX-Index on the Hà Nội Stock Exchange fell 0.34 per cent…

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Stocks Blog: Trump escalates trade war, ending US-China truce

Good day, traders, and TGIF — Well, Mr. Trump certainly had an overnight surprise — he escalated the trade war, saying he will hit $300 billion worth of Chinese goods with a 10 per cent tariff. We’ll keep you up on what you need to know, with insights from top analysts, the latest news and the big moves in our markets. So come back and check in on us throughout the day. And if you have any feedback, we’d love to hear from you at deb.price@scmp.com . — Georgina Lee and Deb…

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