Market sell-off amid U.S.-China trade tensions – CBS News Watch CBS News The Dow Jones closed down on Friday after President Trump threatened new tariffs on China. CBS News MoneyWatch correspondent Kelly O’Grady has the latest. Source link
US President Donald Trump announced an additional 100 percent tariff on China Friday and threatened to cancel a summit with Xi Jinping, reigniting his trade war with Beijing in a row over export curbs on rare earth minerals. Trump said the extra levies, plus US export controls on “any and all critical software,” would come…
China’s State Administration for Market Regulation (SAMR) announced on Friday that it is launching an investigation into Qualcomm’s (QCOM) June acquisition of Autotalks, pulling the chip company into a growing number of firms ensnared in the ongoing economic tit-for-tat between the US and China. In a statement, SAMR said Qualcomm’s acquisition is suspected of violating…
Chinese foreign minister Wang Yi assured external affairs minister S Jaishankar that Beijing is addressing New Delhi’s concerns about export restrictions on fertilisers and rare earth minerals, people familiar with the matter said on Tuesday. External affairs minister S Jaishankar with his Chinese counterpart, Wang Yi. (AP) Wang gave the assurance at his meeting with…
US and Chinese trade negotiators are meeting this week for at least two days of trade talks as most of the immediate term focus — at least from markets — remains on whether recent de-escalatory signals between the two superpowers will translate into a further delay of punishing additional tariffs. Trump officials also hope this…
BEIJING (Reuters) -China’s exports of rare earth magnets to the United States in June soared to more than seven times their May level, marking a sharp recovery in the flow of critical minerals used in electric vehicles and wind turbines after a Sino-U.S. trade deal. Outbound shipments to the United States from the world’s largest…
China pays high environmental price for rare earth minerals dominance – CBS News Watch CBS News China has controlled the supply of a group of rare earth minerals that are essential for its factories, which develop everyday items like smartphones, TV screens and electric cars. This comes at a grave environmental cost. BBC correspondent Laura…
Ford Motor Co. temporarily idled factories in the US over the last three weeks due to a shortage of magnets containing rare earth minerals, key components embroiled in US trade tensions with China. Chief Executive Officer Jim Farley said the situation demonstrates the need to develop a domestic supply chain for critical auto components. China…
MP Materials Corp. (NYSE:MP) is one of the Double-Digit Winners: 10 Stocks Crushing The Market. MP Materials surged by 23.5 percent week-on-week, ending Friday’s trading at $37.74 versus the $30.55 apiece on June 13, as investor sentiment was buoyed by growth opportunities expectations amid the limited supply of rare earth minerals globally. In recent weeks, rare…
The joint economic investment deal announced Wednesday that gives the U.S. access to Ukrainian minerals may provide Ukraine with more support for its defense against Russia. But it also comes at a key moment for the American economy amid its growing trade war with China, a major producer of rare earths and other critical minerals. …