WASHINGTON/BEIJING: The U.S. military campaign against Iran has put Chinese leader Xi Jinping on the back foot ahead of an expected summit with U.S. President Donald Trump, who for the second time in as many months has turned America’s military against one of Beijing’s close partners. Trump is set to arrive in Beijing at the…
Days after US President Donald Trump pushed his double-edge comments about hitting China with additional 100% tariffs, while also wanting to “help” the second-largest economy, Scott Bessent targeted the Asian country once again. Laying out an even more vicious threat of hefty duties, the US Treasury Secretary said on Wednesday (US time) that a significant…
Major technology companies suffered their worst single-day losses since April last week, with Amazon, Nvidia and Tesla leading a $770 billion wipeout in market capitalisation following President Donald Trump‘s threats of increased tariffs on Chinese goods. According to a report by CNBC, shares of Amazon, Nvidia and Tesla each dropped approximately 5% during October 10…
Bitcoin suffered a steep 8.4% drop to $104,782 on Saturday, leading a $19 billion wipeout across the cryptocurrency market, triggered by US President Donald Trump’s escalation of the US-China trade war. Trump announced 100% tariffs on Chinese tech exports and stringent export controls on critical software, accusing Beijing of aggressive trade tactics through restrictions on…
For months, bubbling trade tensions between China and the US seemed to calm to a simmer, with words like “thaw” and “truce” swapped in for warnings of economic “war.” Now, hostilities appear to be returning to full boil. A series of tit-for-tat moves this week by the two superpowers has thrust trade hostilities back in…