US President Donald Trump’s latest tax and spending act might “cause some trouble” for China, according to analysts. However, they also said Beijing may be able to benefit in certain areas if the act – known officially as the One Big Beautiful Bill – generates further political instability and damages domestic industries such as the…
U.S. trading partners are weighing up their responses after President Donald Trump’s latest action on tariffs sparked a stock market selloff Monday. The White House sent letters yesterday to about a dozen countries laying out the rates at which imports would be taxed—ranging from 25% to 40%—if no other trade agreements are reached. The letters…
Apple is appealing the 500 million euro ($570 million) fine that it is facing in the European Union for allegedly violating the Digital Markets Act. In a statement to MacRumors, Apple said that the fine is unprecedented, and goes beyond what the law requires. Today we filed our appeal because we believe the European Commission’s…
HONG KONG (Reuters) -China’s finance ministry said on Sunday it was restricting government purchases of medical devices from the European Union that exceed 45 million yuan ($6.3 million) in value, in retaliation to Brussels’ own curbs last month. Tensions between Beijing and Brussels have been rising, with the European Union imposing tariffs on China-built electric…
China and the European Union have largely finalised the “technical” part of negotiations towards resolving their electric vehicle (EV) tariff dispute, with the deal now hinging on “political will” from the European side, according to Chinese state-affiliated media. Yuyuan Tantian, a social media account linked to state broadcaster CCTV, reported on Friday night that the…
(Bloomberg) — US stock futures retreated Friday as American trade partners pushed for concessions ahead of a July 9 deadline to finalize trade deals with the Trump administration. Meanwhile OPEC+ delegates meeting tomorrow will consider an increase of more than 411,000 barrels a day in August. Most Read from Bloomberg Contracts for the US benchmark…
Chinese Foreign Minister Wang Yi reportedly told the European Union’s top diplomat on Wednesday that Beijing does not want to see Russian’s loss in Ukraine because it feared the United States would then shift its whole focus to Beijing. The statement contradicted Beijing’s public position of neutrality in the Russia-Ukraine conflict. However, sources told the…
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Chinese Foreign Minister Wang Yi has downplayed EU concerns over restrictions on rare earth exports and offered assurances that the needs of European companies will be met if they adhere to proper application procedures. Controlling dual-use goods was a sovereign right and an international responsibility for all nations, Wang said during a news conference with…