Mexico is planning to establish a “task force” to involve US companies in the process of reducing imports from China, the country’s economy minister told a group of auto suppliers at a private meeting Friday in Detroit. Careful not to “speculate” about what would happen on Monday when US President-elect Donald Trump takes office, minister…
US President-elect Donald Trump and Chinese President Xi Jinping spoke by telephone on Friday, China’s official Xinhua reportedBloomberg Terminal, a pre-inauguration conversation that could set the tone for relations between the world’s two largest economies and main geopolitical rivals. The report by the state-run news agency didn’t provide details. Trump’s transition team didn’t immediately respond…
Wall Street traders know what to expect from Donald Trump’s White House return: policy shifts rolled out in late night social-media posts, threats to trading partners, and plenty of market volatility. What they’re less sure about? How to predictably gin up quick profits by seizing on it all. Source link
Chinese President Xi Jinping will skip US President-elect Donald Trump’s inauguration on Monday but will send Vice President Han Zheng instead, the country’s Foreign Ministry said. An announcement Friday from an unnamed ministry spokesperson confirming Han’s participation said China wanted a “stable, healthy and sustainable relationship” with the US and was ready to work with…
Welcome to Balance of Power, bringing you the latest in global politics. If you haven’t yet, sign up here. After incoming US President Donald Trump’s pivotal role in reaching a halt — even if temporarily — to the fighting in Gaza, his goal is to repeat that success in Ukraine. Source link
Asian equities tracked Wall Street’s gains as cooling US core inflation kept alive the prospect of Federal Reserve easing this year. The yen jumped on Bank of Japan rate-hike expectations. Gauges in Australia, Hong Kong and South Korea all advanced, sending an index of Asian equities higher for a third day. The S&P 500 closed…
Russia will demand Ukraine drastically cut back military ties with the NATO alliance and become a neutral state with a limited army in any talks with incoming US President Donald Trump, according to people familiar with the matter. Increasingly confident he has the advantage on the battlefield in Ukraine, Russian President Vladimir Putin is determined…
China’s industrial firms saw their profits drop in November for a fourth straight month, on track for the sharpest annual decline since records began in 2000. Industrial profits at large Chinese companies fell 7.3% last month compared to a year ago, the National Bureau of Statistics said in a statement on Friday. That compares with…
China kept a key interest rate unchanged — a move widely expected by economists — as it seeks to keep its powder dry ahead of possible escalation in trade tensions with the US. The People’s Bank of China held the interest rate on the one-year medium-term lending facility steady at 2%, according to a statement…
Federal Reserve Bank of San Francisco President Mary Daly said she is “very comfortable” with policymakers’ median projection of two interest-rate cuts next year, emphasizing the central bank can turn to a slower approach. “My projection is that it will take many fewer rate cuts next year than we thought but I’ll watch the economy…