US President Joe Biden has called on President-elect Donald Trump to reconsider his proposed tariffs on Canadian, Mexican, and Chinese goods, calling them “counterproductive” as the transition of power moves forward from the Democrats to the Republicans.“I hope he rethinks it. I think it’s a counterproductive thing to do,” Biden told reporters on Thursday in…
Good morning, Quartz readers! HERE’S WHAT YOU NEED TO KNOW Elon Musk is mad he didn’t get an invite to California’s upcoming EV party. The Tesla CEO is upset that market share limitations on a tax credit in the works would block his company from the benefit. Donald Trump’s best and worst cabinet picks, according…
Increased pressure on the European Union to pick sides between the United States and China when Donald Trump returns to power could widen the bloc’s internal divisions, a panel discussion heard on Sunday. In recent years the bloc has increasingly focused on the competitive aspects of the relationship – having dubbed Beijing a systemic rival…
Donald Trump’s return has cast a pall over China’s $10 trillion stock market, but for some money managers, the party isn’t yet over. Man Group and abrdn Plc are among those remaining bullish, counting on Beijing to deliver greater stimulus to offset the US president-elect’s tariff threats. The policy focus for 2025 will likely be…
China may be under pressure to let its currency appreciate and should reduce reliance on the US market, Chinese analysts said, after a former protégé of billionaire George Soros was tapped to become Washington’s top economic official. US president-elect Donald Trump on Friday picked hedge fund manager Scott Bessent, founder of investment firm Key Square…
China’s President Xi Jinping wants a “powerful currency” that is stable enough to play a rising role in global trade. Donald Trump’s return looks set to challenge that ambition. The yuan risks years of downward pressure during the second Trump presidency, and the threat of another trade war is already fueling bets against the currency….
Supply Lines is a daily newsletter that tracks global trade. Sign up here. China wields new powers as it confronts the prospect of another trade conflict with the US, expanding its retaliatory reach in recent years to include tools capable of wreaking havoc on global commerce and finance. Source link
The US presidential election may be over, but the battle with China for high-tech supremacy is just heating up. And if past is prologue, President-elect Donald Trump will only strengthen Beijing’s push for self-sufficiency. Trump’s looming second trade war could also have major consequences for US technology companies with exposure to China, though these likely…
Donald Trump’s election victory has catapulted US stocks to fresh records and pushed the dollar to a two-year high. It’s anything but good news for the rest of the world. Equities excluding the US are tumbling, with an MSCI gauge capping its worst day since the Aug. 5 global rout. An index of developing-market currencies…
Xi Jinping has put the fate of his country and regime in the hands of others, especially the next leader of the country he considers an enemy, the United States. Yes, China’s ruler, who many consider the world’s most powerful figure, is, in reality, helpless. How did that happen? In short, Xi did it to…