China’s leaders are downplaying the potential impact from U.S. President Donald Trump’s trade war, saying they have the capacity to protect jobs and limit damage from higher tariffs on Chinese exports. The briefing Monday by several senior officials of different government ministries appeared aimed at shoring up confidence with promises of support for companies and…
WASHINGTON (AP) — President Donald Trump can’t stop contradicting himself on his own tariff plans. He says he’s on a path to cut several new trade deals in a few weeks — but has also suggested it’s “physically impossible” to hold all the needed meetings. Trump has said he will simply set new tariff rates…
NEW YORK (AP) — Big Tech stocks carried major U.S. indexes higher to close out the market’s latest roller-coaster week. The S&P 500 rose 0.7% Friday, adding to its big gains over the previous three days. Spurts for Nvidia and other influential tech stocks sent the Nasdaq composite up 1.3%. The Dow Jones Industrial Average…
BANGKOK (AP) — Asian shares were mostly higher in thin Good Friday trading after a bumpy ride on Wall Street, where the Dow industrials lost 1.3% as UnitedHealth shed more than a fifth of its value due to a weaker-than-expected profit report. U.S. stock and bond markets will be closed on Friday. Tokyo’s Nikkei 225…
BEIJING (AP) — China appointed a new top international trade negotiator on Wednesday amid tariff tensions with the U.S. The government said that Li Chenggang has been appointed to replace Wang Shouwen, who participated in the trade negotiations for the 2020 trade deal between the China and the U.S. The world’s two largest economies have…
HONG KONG (AP) — Hong Kong’s post office will stop shipping small parcels to the United States after Washington announced plans to charge tariffs on small-value parcels from the southern Chinese city, the government said Wednesday. The U.S. government earlier announced that it would end a customs exception allowing small-value parcels from Hong Kong to…
WASHINGTON (AP) — President Donald Trump on Monday suggested that he might temporarily exempt the auto industry from tariffs he previously imposed on the sector, to give carmakers time to adjust their supply chains. “I’m looking at something to help some of the car companies with it,” Trump told reporters gathered in the Oval Office….
TOKYO (AP) — Global benchmarks mostly rose Tuesday, echoing a rally on Wall Street after President Donald Trump appeared to let up on some of his tariffs and as stress from within the U.S. bond market seemed to be easing. Still, the Trump administration took further steps toward imposing more tariffs, saying it was investigating…
When the first two rounds of 10% tariffs hit, Zou Guoqing, a Chinese exporter, groaned but didn’t find the barriers insurmountable. He gave up some of his profits and offered his client, a snow-bike factory in Nebraska, price cuts ranging from 5% to 10%. It seemed to work: The factory agreed to a new order…
WASHINGTON (AP) — Rick Woldenberg thought he had come up with a sure-fire plan to protect his Chicago-area educational toy company from President Donald Trump’s massive new taxes on Chinese imports. “When he announced a 20% tariff, I made a plan to survive 40%, and I thought I was being very clever,” said Woldenberg, CEO…