The trade volume between Russia and China is expected to continue to accelerate and reach new heights, doubling the current record level of $108 billion, the Russian economy ministry says.
The president earlier threatened to slap tariffs on the remaining $300 billion in Chinese goods coming into the United States unless Chinese President Xi Jinping agreed to meet with him at the G20 meeting in Osaka, Japan to hammer out a trade deal favourable to Washington.
The worsening trade conflict between the world’s two largest economies, the United States and China, could send the global economy into recession within three fiscal quarters, research by investment bank Morgan Stanley has found.
The Commerce Ministry of China has pledged to create a list of foreign individuals, corporations and institutions that are considered “unreliable” or that violate the interests of Chinese businesses, state media reports.
China’s tariffs targeting $60 billion of American imports have taken effect as part of a tit-for-tat response to Washington’s trade war which saw Beijing slapped with extra levies on $200 billion worth of exports back in May.
US Secretary of State Mike Pompeo doubled down on vilification of Сhinese telecoms giant Huawei as “an instrument of government” suggesting that the company was a national security threat by acting as an agent for Beijing.
China’s Foreign Minister Wang Yi said that Beijing will take all necessary measures to defend the rights and interests of Chinese companies. Sputnik talked about Huawei’s lawsuit against the US government with Andrew Leung, an independent China strategist based in Hong Kong.
A growing number of former Apple devotees in China have started switching from iPhones to domestic Huawei smartphones as trade and technology tensions escalate between Washington and Beijing. The South China Morning Post reported that consumers were spurred by a rising “nationalist sentiment” to support the Chinese tech giant which has been blacklisted by the US.
As Wall Street reels from the shock of a trade war exploding to new heights in the form of tariffs and counter tariffs, there’s another reality that is setting in — that China seems happy to walk away from trade talks.
The lull in the US-China trade war amid new flaring tensions over the arrest of Huawei finance chief can only backfire at Washington as Beijing holds a trump card, veteran stockbroker Peter Schiff has warned.
After US President Donald Trump said on Sunday that the US will hike tariffs on goods imported from China, Wall Street will start the week with a sharp selloff, as investor optimism about the possible conclusion of a trade deal with China in the near future has faded.
There are suggestions that the US and China may now sign a trade agreement in May. However, it seems unlikely that this will be the great victory over China that Trump promised, as recent events indicate.
Escalation of US-China bilateral tariffs to shave off $1 trillion from America’s GDP. A study by the US Chamber of Commerce shows how the deterioration in the trade dispute between the world’s two largest economies, China and the United States, will drastically affect the American economy.
US agricultural exports to China are forecast to fall significantly in crop year 2019, an official in President Donald Trump’s administration said this week, noting that the damage was a result of the administration’s own trade policies with China.
Chinese investments in North America and Europe fell by 73 percent last year as a result of tightened US scrutiny of foreign takeover deals and Beijing’s restrictions on outbound investments. Data from law firm Baker & McKenzie showed that Chinese foreign direct investment (FDI) flows into the United States have also turned negative, falling to […]