US stocks open lower on tariff jitters; Tesla down on Musk's political plans
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RTHK
11 hours ago
- RTHK
Albanese meets Shanghai party boss
Albanese meets Shanghai party boss Anthony Albanese, left, and Chen Jining meet in Shanghai. Photo: Reuters Australian Prime Minister Anthony Albanese on Sunday met with Shanghai Party Secretary Chen Jining, the first in a series of high-level exchanges during his week-long China visit. Chen said China and Australia are important partners, and Shanghai is willing to play a bigger role in boosting further cooperation between the two countries. Albanese, for his part, said he's happy to visit Shanghai and attaches great importance to relations with China. The Australian leader is leading 'a very large business delegation' to China, which speaks to the importance of the economic relations between the two countries, he told CGTN upon his arrival in Shanghai on Saturday. During the trip to China, he's expected to meet President Xi Jinping, Premier Li Qiang and National People's Congress chairman Zhao Leji. Albanese will also meet business, tourism and sport representatives in Shanghai and Chengdu, and attend a CEO roundtable on Tuesday in Beijing, his office said. It is his second visit to China since his centre-left Labor Party government was first elected in 2022. The party was re-elected in May with an increased majority. In an editorial on Sunday, Xinhua News Agency described China's relationship with Australia as 'steadily improving' and undergoing 'fresh momentum'. 'There are no fundamental conflicts of interest between China and Australia,' the editorial stated. 'By managing differences through mutual respect and focusing on shared interests, the two sides can achieve common prosperity and benefit.' (Additional reporting by AP)
The Standard
12 hours ago
- The Standard
Bridgewater's Ray Dalio warns dollar devaluation in play to tackle US debt
Ray Dalio, Founder of Bridgewater Associates, speaks at The Wall Street Journal's Future of Everything Festival in New York City, U.S., May 22, 2024. REUTERS
South China Morning Post
15 hours ago
- South China Morning Post
As Trump's tariff patience wanes, countries scrambling for deals face hard choice
US trading partners trying to navigate the final weeks of negotiations before President Donald Trump's so-called reciprocal tariffs hit are facing a leader who has made clear he has lost patience with talks. Even as negotiators from Brussels to New Delhi are racing to find a way out of the punishing levies he has floated, Trump continued to send letters unilaterally setting rates – while still allowing for a little wiggle room. Early on Saturday, Trump posted letters sent to Mexican President Claudia Sheinbaum and European Commission president Ursula von der Leyen, declaring a 30 per cent rate for Mexico and the European Union beginning August 1. He said Mexico had failed to do enough to stop the flow of fentanyl into the United States and complained that the EU's trade deficit with the US was unfair. He suggested both partners could take steps to mitigate the rates – or he could increase them further if he did not like their responses. Efforts by those countries and others to find an escape from the punishing levies are expected to intensify next week ahead of a new August 1 deadline for many of the import taxes to kick in. US Treasury Secretary Scott Bessent is heading to Japan, and EU negotiators are focusing their attention on cars and agricultural tariffs in hopes of securing at least a provisional agreement.
