By Gram Slattery WASHINGTON (Reuters) – A top trade adviser to President-elect Donald Trump told Reuters on Thursday that the new administration would not look “fondly” on any attempt by China to manipulate its currency, responding to a Reuters report that authorities there were considering allowing the yuan to weaken next year. Peter Navarro, Trump’s…
JPMorgan Chase CEO Jamie Dimon has been communicating with Donald Trump in recent months through secret back channels, helping the president-elect hammer out a policy agenda before and since his decisive White House victory, The Post has learned. The 68-year-old Wall Street titan — who, like 78-year-old Trump, grew up in Queens in New York…
US bipartisan lawmakers have called on their Department of the Treasury to re-evaluate its treatment of Hong Kong banks, accusing the city of becoming a hub for money laundering and evasion of sanctions involving authoritarian countries. In a joint letter sent to US Treasury Secretary Janet Yellen and unveiled on Monday, Republican congressman John Moolenaar…
Global markets rose Monday as investors responded positively to President-elect Donald Trump‘s nomination of billionaire hedge fund manager Scott Bessent as Treasury secretary. European and Asian markets largely tracked Wall Street‘s gains last week, reflecting optimism over a potentially market-friendly economic plan. In Europe, Germany‘s DAX climbed 0.7 percent to 19,461.11, while France‘s CAC 40…
Give Donald Trump credit for this: he can turn practically anything into a reality show, including picking a Treasury Secretary. The media had followed the selection process on a daily, and sometimes hourly, basis as Trump auditioned a number of candidates in recent weeks for the top economic post in his second Administration. On Friday,…
The Chinese government expressed diplomatic discontent to the United States after the Biden administration finalized a set of rules to restrict American individuals and companies from investing in China’s three high technology sectors. The Final Rule, which aims to implement the Executive Order signed by US President Joe Biden in August 2023, will limit US…
The U.S. Treasury Department issued a new rule this week seeking to limit U.S. investments in China for military technology. On Monday, the Treasury Department announced a new rule aimed at restricting and monitoring American investments in China’s artificial intelligence, semiconductor, and quantum computing sectors. The move is part of an effort to prevent the…
Observers also expect Beijing will place greater emphasis on self-reliance in artificial intelligence (AI) in response to potentially increasing pressure from Washington and its allies, signalled by the White House’s new directive on the technology. The Biden administration outlined the nation’s “first-ever” strategy for harnessing powerful AI in United States military and intelligence agencies while…
US Treasury Secretary Janet Yellen and China’s deputy finance minister Liao Min met in Washington on Friday to discuss macroeconomic policy developments, including Beijing’s most ambitious stimulus measures since the coronavirus pandemic. China reported third quarter growth of 4.6 per cent, the lowest figure since the same period last year. Beijing has recently announced a…