China’s Ambassador to India Xu Feihong on Monday lashed out at the US for its 50 per cent tariff on India and invited Indian businesses to China to promote their products and invest in Beijing. Talking at a press conference in New Delhi, Xu suggested an open flow of trade between India and China. “We…
US President Donald Trump on Sunday warned that America would be “completely destroyed” without the tariffs he imposed, days after a federal appeals court declared most of them illegal. US President Donald Trump doubles down on tariff defence after court declares them “illegal”.(Bloomberg) “Without Tariffs, and all of the TRILLIONS OF DOLLARS we have already…
Nikki Haley, former US ambassador to the United Nations, on Friday stressed on the importance of India-US relationship, warning that alienating New Delhi at a time of rising Chinese assertiveness would be a ‘strategic disaster.’ Nikki Haley’s remarks come against the backdrop of Trump slapping 50% tariff on Indian goods(AP) Her remarks came in the…
Hong Kong’s economy will expand by between 2 and 3 per cent this year as previously forecast despite worsening geopolitics, with a robust local stock market, stabilised property sector and rising wages sustaining further growth, the government has said. The Census and Statistics Department said on Friday that economic growth for the second quarter was…
Donald Trump’s trade advisor Peter Navarro warned global economies of risk ‘with respect to exposure to China’ and said that if “Chinese vampire” cannot suck the American blood then it will suck the UK and EU blood. Peter Navarro was a key force behind the Trump tariffs, reportedly intended to isolate China, and bring a…
HSBC subsidiary Hang Seng Bank appointed Gilbert Lee Man-lung, the eldest son of Hong Kong Chief Executive John Lee Ka-chiu, as deputy head of its China unit. The lender said that it would promote the junior Lee, 47, to vice-chairman of Hang Seng Bank (China) from his current position as head of strategy and planning…
The paper was cited by the U.S. Trade Representative (USTR) in a statement released last week explaining the calculations behind the major import tariffs announced by President Trump that threaten to pull the global economy into a recession. File | Photo Credit: Reuters An economist whose work was cited by U.S. President Donald Trump’s administration…
According to Goldman’s report on Sunday, the impact of the tariffs could be blunted by a 2 trillion yuan (US$275 billion) fiscal package from Beijing to support the economy and consumer consumption. Goldman cut its 12-month growth estimate for the MSCI China Index to 10 per cent from 16 per cent, while the CSI300 Index…
President Donald Trump on Thursday ordered his administration to consider imposing reciprocal tariffs on numerous trading partners noting that ‘the United States will no longer tolerate being ripped off’. A White House statement quoting President Trump said that despite the US having an open economy, its trading partners block US exports. “And reciprocal trade will…
Hong Kong’s economic recovery is likely to be hindered by America’s decision to impose a 10 per cent tariff on Chinese goods, with the move to also exacerbate the woes of small and medium-sized enterprises, business leaders and lawmakers have warned. They also said on Saturday that the local government was facing increasing pressure to…