Canada’s prime minister says trade talks with US will resume with decision to drop new levy. Canada has rescinded its digital services tax in a bid to advance trade negotiations with the United States, days after US President Donald Trump called off talks in retaliation for the levy. Canadian Prime Minister Mark Carney, in a…
China’s factory activity improved for a second month but remained in contraction, as trade rebounds after the ceasefire in the tariff war with the US while weak domestic demand weighs on the economy. The official manufacturing purchasing managers’ index was 49.7 in June, versus 49.5 in the previous month, slightly exceeding the median estimate in…
Describing Israel and Iran fighting each other at his NATO pre-summit news conference in The Hague this week, US President Donald Trump drew an analogy with children fighting in a schoolyard, who eventually had to be separated. “Daddy has to sometimes use strong language,” Mark Rutte, NATO secretary-general, chimed in. Asked about the comment after…
As Canada pushes ahead with a new digital services tax on foreign and domestic technology companies, United States President Donald Trump has retaliated by ending all trade talks and threatened to impose additional tariffs on exports from Ottawa. In a post on his Truth Social platform on Friday, Trump called the new Canadian tax structure…
Nike has said it will cut its reliance on production in China for the United States market to mitigate the impact from US tariffs on imports, and forecast a smaller-than-expected drop in first-quarter revenue. The sportswear giant’s shares zoomed 15 percent at the opening bell on Friday morning after it announced the change in conjunction…
The United States has reached an agreement with China on accelerating shipments of rare earth minerals to the US, amid efforts to end a trade war between the world’s two biggest economies. US President Donald Trump said on Thursday that the US had signed a deal with China the previous day, without providing more details,…
China’s Ministry of Commerce says the two sides “further confirmed the details of the framework.” President Donald Trump says the United States and China have signed a trade agreement amid efforts to end a trade war between the world’s biggest economies. “We just signed with China the other day,” Trump said during an event at…
The remarks show how the mood has changed across the bloc on the potential pact it hopes to agree with the Donald Trump administration. Brussels at first trashed the agreement that London struck with Washington, but now the EU is coming to terms with the prospect that keeping a 10 percent baseline tariff is the…
Hong Kong’s finance minister has dismissed concerns that foreigners are avoiding the city because of its strong connections to the mainland Chinese market amid the trade war, saying that investors are showing their confidence with their capital. At the “Summer Davos” forum on Wednesday, Financial Secretary Paul Chan Mo-po said Hong Kong’s strengths lay in…
China is publicly “deeply concerned” about events in the Middle East but privately is probably celebrating. America is off to war again, and China will be the winner as it has been for two decades. Throughout China’s rise as an industrial power since it joined the World Trade Organization on December 11, 2001 — exactly…