A former high-ranking US official on a trip to Hong Kong has accused the Trump administration of miscalculating China’s power and called on the United States to open up communications amid escalating trade tensions. Kurt Campbell, former US deputy secretary of state in the Biden administration, told a conference hosted by the American Chamber of…
Chinese Premier Li Qiang said his country has ample policy tools to “fully offset” any negative external shocks as President Donald Trump imposed an astounding 104% in tariffs across all Chinese imports on Wednesday, reported Bloomberg. China’s Premier Li Qiang delivers speech during an event in Beijing.(AP file) Li Qiang reiterated his optimism about the…
A wide range of economists are voicing alarm over President Donald Trump’s steep tariffs on imports into the United States, sparking a trade war that experts say could tip many countries into recession. Here are comments by some leading economists: For Thomas Piketty, French author of the bestselling Capital in the Twenty-First Century, “Trumpism is…
Elon Musk has made personal appeals to Donald Trump to reverse his new wave of sweeping tariffs, The Washington Post reported over the weekend. As tensions rose over a planned 50% tariff on Chinese imports, Musk turned to social media to voice his opposition — while also trying to influence the president directly. Two people…
And as U.S. stock markets plunged following his announcement of sweeping tariffs on 180 countries this week, Trump beamed that all would soon rebound and boom. America’s heading to glory days. Vice President JD Vance, meanwhile, complained critics were taking far too short-term a view: “We’re going to have a booming stock market for a…
In This Story It’s the end of the world as we know it, but investors seem to feel (mostly) fine, judging by the stock market. Costco’s Kirkland brand became a massive financial success. Here’s how Stocks closed mainly higher on Tuesday ahead of an announcement by Donald Trump on Wednesday in which he may unveil…
In This Story The Federal Reserve may get stuck between President Donald Trump’s public demands for interest rate cuts and the central bank’s mandate to curb inflation after its favorite price measure picked up by more than expected in February. Gap is betting Old Navy and AI will help solidify its position in retail Core…
The EU is ready to mark 50 years of diplomatic relations with China by “deepening trade and investment cooperation”, its trade commissioner said in Beijing on Thursday, according to a Chinese readout. Maros Sefcovic made the remarks during a meeting with Chinese Vice-Premier He Lifeng, an account by Xinhua News Agency said. The meeting took…
Hong Kong is devoted to deepening its foreign ties, the city’s leader has said, while urging economies in Asia to promote bilateralism and reject protectionism amid a fast-changing geopolitical environment. Chief Executive John Lee Ka-chiu on Tuesday also called for more collaboration between the city and mainland China’s Hainan province to promote free trade and…
In the past week alone, Trump has placed tariffs on China, Mexico and Canada, the U.S.’s three biggest trading partners, and readied measures to challenge China’s dominance in shipbuilding. On Friday, the president upended U.S. foreign policy by opening talks with Russia to end the war in Ukraine—a move that some believe could be aimed…