Powell to leave Fed chair in May, nominee announcement expected in December or January: Secretary Bessent
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Yahoo
18 minutes ago
- Yahoo
Several US executives to visit China this week: sources
By Laurie Chen BEIJING (Reuters) -A high-level delegation of American executives will travel to China this week to meet senior Chinese officials in a trip organised by the U.S.-China Business Council (USCBC), two sources with knowledge of the visit told Reuters on Monday. The visit coincides with the latest round of U.S.‑China trade negotiations in Sweden, where China's Vice Premier He Lifeng is meeting U.S. officials from July 27 to July 30 for a new round of economic and trade talks. The delegation will be led by FedEx Chief Executive Rajesh Subramaniam, the council's board chair, one of the sources briefed on the trip said. The South China Morning Post first reported the visit on Sunday, saying that executives from firms including Boeing would be part of the delegation. Reuters could not confirm other CEO members of the delegation or which Chinese officials they would meet. Boeing declined to comment on the trip and deferred to USCBC. The U.S. government was not involved in the organisation of the visit, one of the sources said. The trip comes as Beijing and Washington work towards a summit between the two countries' leaders later this year, probably around the time of the APEC forum in South Korea October 26 - November 1, sources previously told Reuters. USCBC did not respond immediately to a request for comment. The business lobby previously organised similar visits to China by American CEO delegations in 2023 and 2024. The 2024 trip, also led by Subramaniam, included meetings with He and Foreign Minister Wang Yi, where executives discussed issues including market access. China faces an August 12 deadline to reach a durable deal with the White House or risk higher U.S. tariffs. U.S. officials are likely to extend the deadline by another 90 days as both sides work towards a more comprehensive deal, sources previously told Reuters. An extension of that length would prevent further escalation and help create conditions for the potential meeting between Trump and Chinese President Xi Jinping. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
18 minutes ago
- Yahoo
Trump pauses export controls to bolster China trade deal, FT says
(Reuters) -The U.S. has paused curbs on tech exports to China to avoid disrupting trade talks with Beijing and support President Donald Trump's efforts to secure a meeting with President Xi Jinping this year, the Financial Times said on Monday. The industry and security bureau of the Commerce Department, which oversees export controls, has been told in recent months to avoid tough moves on China, the newspaper said, citing current and former officials. Reuters could not immediately verify the report. The White House and the department did not respond to Reuters' requests for comment outside business hours. Top U.S. and Chinese economic officials are set to resume talks in Stockholm on Monday to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies. Tech giant Nvidia said this month it would resume sales of its H20 graphics processing units (GPU) to China, reversing an export curb the Trump administration imposed in April to keep advanced AI chips out of Chinese hands over national security concerns. The planned resumption was part of U.S. negotiations on rare earths and magnets, Commerce Secretary Howard Lutnick has said. The paper said 20 security experts and former officials, including former deputy US national security adviser Matt Pottinger, will write on Monday to Lutnick to voice concern, however. "This move represents a strategic misstep that endangers the United States' economic and military edge in artificial intelligence," they write in the letter, it added. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Boston Globe
19 minutes ago
- Boston Globe
Cambodian and Thai leaders hold cease-fire talks in Malaysia as border violence enters fifth day
Advertisement Troops from both sides reported ongoing fighting Monday along border areas. Gunfire could be heard as dawn broke in Samrong in Cambodia's Oddar Meanchey province, Associated Press reporters covering the conflict said. Anwar said late Sunday that both sides would present their conditions for peace but 'what is important is immediate ceasefire.' 'I hope this can work,' Anwar was quoted as saying by Malaysian national news agency Bernama. 'Although it's not as bad as many other countries, we have to put a stop (to the violence).' The meeting followed direct pressure from U.S. President Donald Trump, who has warned that the United States may not proceed with trade deals with either country if hostilities continue. Before departing for Kuala Lumpur, Phumtham told reporters in Bangkok that the U.S. and China representatives will also attend as observers. He said the key focus would be on an immediate ceasefire, but noted trust could be an issue as Cambodia has not stopped its strikes. Advertisement 'We have informed that we don't have trust in Cambodia. All they have done reflect that they are not sincere in solving this problem. So they have to show the detail how they will do to prove their sincerity,' he said. The violence marks a rare instance of open military confrontation between ASEAN member states, a 10-nation regional bloc that has prided itself on non-aggression, peaceful dialogue and economic cooperation. In a statement Monday, ASEAN foreign ministers reiterated concern over the rising death toll, destruction of public properties and displacement of a large number of people along the disputed border areas. They urged the two countries to resolve their disputes through negotiations and expressed support for efforts to find a middle ground during Monday's talks. The conflict also drew the attention of Pope Leo XIV. At the Vatican on Sunday, the pontiff said he was praying for all those affected by war in the world, including 'for those affected by the clashes on the border between Thailand and Cambodia, especially the children and displaced families.' At an evacuation shelter in Cambodia's Siem Reap province far away from the border, Ron Mao, 56, prays for a ceasefire deal during the leaders' meeting Monday. She and her family fled their home a kilometer (0.6 mile) away from the front line when fighting broke out Thursday. They took refuge in a shelter but moved again to another camp further away after hearing artillery shelling. Advertisement 'I don't want to see this war happen. It's very difficult and I don't want to run around like this,' she said, 'When I heard our Prime Minister go to negotiate for peace, I would be very happy if they reached the deal as soon as possible, so that I and my children can return home as soon as possible.' The 800-kilometer (500-mile) frontier between Thailand and Cambodia has been disputed for decades, but past confrontations have been limited and brief. The latest tensions erupted in May when a Cambodian soldier was killed in a confrontation that created a diplomatic rift and roiled Thailand's domestic politics. Eileen reported from Kuala Lumpur, Malaysia, and Cheang from Samrong, Cambodia. Associated Press writers Chalida Ekvitthayavechnukul and Grant Peck in Bangkok contributed to this report.
