US President Donald Trump on Wednesday played up prospects of a “fair deal” on trade with China, but his top officials offered few details of how Washington might de-escalate its damaging tariff war with Beijing.Trump told reporters his country would have a “fair deal with China,” adding that “everything’s active” when asked if Washington was …
Trump seeks ‘fair deal’ with China but pathway unclear Read More »
A coalition of 12 American states filed a lawsuit Wednesday to challenge the Trump administration’s tariffs, saying the president cannot institute the levies without the approval of Congress.”President Trump’s insane tariff scheme is not only economically reckless — it is illegal,” Arizona Attorney General Kris Mayes said in a statement. The southwestern state is joined by …
Boeing’s CEO confirmed Wednesday that China had stopped accepting new aircraft due to the US-China trade war, as the company’s shares surged following a smaller than expected loss.In a televised interview with CNBC, Boeing Chief Executive Kelly Ortberg said Chinese customers had “stopped taking delivery of aircraft due to the tariff environment,” adding that if …
Boeing says China not accepting planes over US tariffs Read More »
Dozens of cutting-edge Chinese carmakers displayed their prowess at the world’s largest auto show in Shanghai on Wednesday — but not all will survive the country’s brutal domestic market, executives said.Beijing’s historic backing of EV and hybrid development has seen over a hundred Chinese brands emerge in a relatively short space of time, all jostling …
‘Not everyone will survive’: China carmakers eye cutthroat market Read More »
The world’s largest auto expo opened its doors Wednesday in Shanghai, showcasing the new electric world order even as mounting trade barriers risk dampening China’s global ambitions.With nearly 1,000 exhibitors present, foreign carmakers are raring to show they can keep pace with the ultra-competitive Chinese firms that dominate the sector’s electric frontier.Vying to shore up …
Auto Shanghai showcases new EV era despite tariff speedbumps Read More »
Asian stocks rallied with Wall Street on Wednesday after Donald Trump said he had “no intention” of firing the head of the Federal Reserve and that eye-watering tariffs on China would be slashed drastically.Global markets, already upended by a trade war, were battered further at the start of the week by fears the US president …
Asian markets rally as Trump comments ease Fed, China trade fears Read More »
The trade standoff between Washington and Beijing is not sustainable, the US Treasury chief said Tuesday, as President Donald Trump predicted sky-high tariffs on many Chinese imports would come down “substantially.”Speaking at a closed-door event hosted by JPMorgan Chase, Treasury Secretary Scott Bessent said the enormous tariffs the world’s two biggest economies placed on each other’s …
US Treasury chief expects China tariff impasse to de-escalate Read More »
The Volkswagen group on Tuesday unveiled a series of new vehicles and a driver assistance system built “in China for China”, which it hopes will help reverse its declining fortunes in the world’s largest car market.Though it is still the leading foreign group operating in the country, Volkswagen has seen its sales droop as local …
Volkswagen unveils its electric counter-offensive in China Read More »
The IMF said Tuesday it now believed China’s economy will only grow by four percent this year, well below Beijing’s official target as it fights a mounting trade war with the United States that threatens to hammer the global economy.China and the United States — the world’s two largest economies — are engaged in a …
IMF slashes China growth forecasts as trade war deepens Read More »
The first US official to visit Southeast Asia since Washington announced punitive tariffs on the region’s countries on Tuesday issued a robust defence of President Donald Trump’s foreign policy approach.Sean O’Neill, the United States’ senior bureau official for East Asian and Pacific Affairs, is in Cambodia this week, co-chairing the 37th ASEAN-US Dialogue.The two-day meeting …
US official asserts Trump’s agenda in tariff-hit Southeast Asia Read More »
