CNA938 Rewind - Significance of France recognising a Palestinian state
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CNA
5 hours ago
- CNA
US, China resume talks in Stockholm to ease tariff hostilities
STOCKHOLM: US and Chinese officials began a second day of talks in Stockholm on Tuesday (Jul 29) to resolve longstanding economic disputes and step back from an escalating trade war between the world's two biggest economies. The meetings may not yield immediate large breakthroughs but the two sides could agree to another 90-day extension of a tariff truce struck in mid-May. It may also pave the way for a potential meeting between US President Donald Trump and Chinese President Xi Jinping later in the year, though Trump on Tuesday denied going out of his way to seek one. The delegations met for more than five hours on Monday at Rosenbad, the Swedish prime minister's office in central Stockholm. US Treasury Secretary Scott Bessent was seen arriving at Rosenbad on Tuesday morning after a separate meeting with Swedish Prime Minister Ulf Kristersson. China's Vice Premier He Lifeng also arrived at the venue. Neither side made statements after the first day of talks. China is facing an Aug 12 deadline to reach a durable tariff agreement with Trump's administration, after reaching preliminary deals in May and June to end weeks of escalating tit-for-tat tariffs and a cut-off of rare earth minerals. Without an agreement, global supply chains could face renewed turmoil from US duties snapping back to triple-digit levels that would amount to a bilateral trade embargo. The Stockholm talks follow Trump's biggest trade deal yet with the European Union on Sunday for a 15 per cent tariff on most EU goods exports to the United States, and a deal with Japan. The Financial Times reported on Monday that the United States had paused curbs on tech exports to China to avoid disrupting trade talks with Beijing and support Trump's efforts to secure a meeting with Xi this year. Trump pushed back against suggestions he was seeking a meeting with Xi. "This is not correct, I am not SEEKING anything! I may go to China, but it would only be at the invitation of President Xi, which has been extended. Otherwise, no interest!" he wrote on Truth Social. COMPLEX TALKS Meanwhile, in Washington, US senators from both major parties plan to introduce bills this week targeting China over its treatment of minority groups, dissidents, and Taiwan, emphasising security and human rights, which could complicate the talks in Stockholm. Taiwan President Lai Ching-te is also set to delay an August trip his team had floated to the Trump administration that would have included stops in the United States, sources familiar with the matter told Reuters on Monday. The potential visit would have infuriated Beijing, possibly derailing the trade talks. China claims Taiwan as its own territory, a position Taiwan rejects, and denounces any show of support for Taipei from Washington. Previous US-China trade talks in Geneva and London in May and June focused on bringing US and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia's H20 AI chips, and other goods halted by the United States. Among broader economic issues, Washington complains that China's state-led, export-driven model is flooding world markets with cheap goods, while Beijing says US national security export controls on tech goods seek to stunt Chinese growth. Bessent has already flagged a deadline extension and has said he wants China to rebalance its economy away from exports to more domestic consumption - a decades-long goal for US policymakers.
CNA
10 hours ago
- CNA
Germany, France criticise US-EU trade deal
The European Union's two largest economies, Germany and France, have criticised the trade deal struck between EU chief Ursula von der Leyen and United States President Donald Trump. The French prime minister said the agreement was tantamount to a "submission" to the US leader's tariff threat. The deal imposes a baseline 15 per cent duty across most European goods, halved from what was earlier threatened by Washington. William Denselow has more from Brussels.
CNA
10 hours ago
- CNA
UN conference on two-state solution convenes amid calls for increased aid into Gaza
Pressure is mounting on Israel at the United Nations as the international community discusses how to advance a two-state solution in the Middle East between a future Palestinian state and Israel. France and Saudi Arabia have convened a high-level conference on the issue, as many countries call for increased aid into Gaza amid widespread images of starvation. The United States and Israel have boycotted the event, which is being attended by representatives from 125 countries. Mitch McCann reports from the United Nations.
