The US has imposed 25 per cent additional import tariffs on more than $250 billion worth of Chinese products. An additional 10 per cent import duties on remaining nearly $300 billion worth of Chinese products is all set to come into effect on September 1.
Trump and Chinese President Xi Jinping agreed last month to resume negotiations. But economists warn the truce is fragile because the two sides face the same array of disagreements that caused talks to break down in May.
If his goals required cozying up to autocrats believed to have blood on their hands, like Crown Prince Mohammed bin Salman of Saudi Arabia or President Vladimir Putin of Russia, that did not bother him in the least.
Southeast Asian leaders have pressed their call for self-restraint in the disputed South China Sea after a new incident and renewed their alarm over the US-China trade war with one warning it may spiral out of control
The five blacklisted organizations placed on the so-called Entity List includes supercomputer maker Sugon, which is heavily dependent on US suppliers including chipmakers Intel, Nvidia and Advanced Micro Devices.
Hundreds of businesses, trade groups and individuals have written to complain that the additional import taxes would drive up prices for consumers, squeeze profits and leave US companies at a competitive disadvantage to foreign rivals.
Earlier on Wednesday, the IMF said current and threatened US-China tariffs could cut 2020 global gross domestic product by 0.5%, or about $455 billion -- a loss larger than G20 member South Africa's annual economic output.
The Southeast Asian nation, which shares a border with China, gained orders from trade diversion on tariffed goods equal to 7.9% of gross domestic product in the year through the first quarter of 2019, according to a study by Nomura Holdings Inc.
The United States is “playing with fire” with its support for self-ruled Taiwan, China said on Thursday. China’s comments come ahead of a meeting between Chinese defence minister Wei Fenghe and acting U.S. defence secretary Patrick Shanahan. Already locked in an escalating trade war, the two countries are also at odds over a series of […]