Tariff talks begin between US and Chinese officials in Geneva
Paul Wiseman, Did Tang and Jamey Keaten
Today at 05:47
The US treasury secretary and America's top trade negotiator have begun talks with high-ranking Chinese officials in Switzerland in a bid to de-escalate a dispute that threatens to cut off trade between the world's two biggest economies and damage the global economy.
The Xinhua News Agency said Washington's treasury secretary Scott Bessent and US trade representative Jamieson Greer have begun meetings in Geneva with a Chinese delegation led by vice premier He Lifeng.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Examiner
6 hours ago
- Irish Examiner
Suzanne Harrington: 'Terrorist-adjacent', hilarious, galvanising, inspirational Kneecap
At a moment where that Chinese curse — may you live in interesting times — is taking itself far too literally, we could all do with a fat slap of levity. I'm pinning my hopes on Kneecap's Liam Óg Ó Hannaidh when he shows up at Westminster magistrates court this Wednesday on terror charges. I'm hoping he'll ask for a translator, like he did while playing a version of himself in the Kneecap film. That life will imitate art, and he will not speak a single word of English during this nonsensical waste of Liam's time and taxpayers' cash. Because really... terror charges? A surreal idea, like something dreamed up by Flann O'Brien and Franz Kafka after sharing a pot of peyote tea. These charges do not include any actual terrorism — no bombing of schools and hospitals, vaporising ambulances, starving and murdering tens of thousands of civilians — but centre on the alleged handling of a banned flag indoors last November. Touching a rectangle of fabric. Briefly. Kneecap, who have asked supporters to gather outside the London court building on the day, describe this moment of British power-flexing theatrics as 'political policing', a 'carnival of distraction'. Goliath, as ever, punching down; Daithí readying his sling. Because if the British government wants a carnival, it could not have cast better players. Kneecap know all about performance, situationism, absurdism. They themselves are fearless theatre. Imagine then this life-imitating-art scenario, where Liam Óg speaks only Irish in court. Imagine how funny that would be, how utterly, brilliantly comedic, how richly satisfying. The spluttering, the outrage, the apoplexy. The hilarity. The glee. And yes, it's a lot to ask a 27-year-old facing the wrath of the British establishment doing their best to intimidate, to derail his career, but tá bualain ar an bhuach. (And yes, of course I had to google that. I can't speak Irish; unlike Peig Sayers, Kneecap are the first people who have ever inspired me to look up any Irish words. Don't hate me if it reads like a badly translated menu). Celtic fans unveil a banner that reads "Free Palestine" and "Kneecap Abu" during the Scottish Gas Men's Scottish Cup final at Hampden Park, Glasgow. Picture date: Saturday May 24, 2025. PA Photo. That's why the establishment wants to squash Kneecap, cancel them, restrict their movement — because they inspire. They galvanise. Like those enormous peaceful marches for Palestine that regularly bring central London to a halt but are never reported by the BBC or other major British media (turnout for the last one on May 17 was 500,000-600,000) — Kneecap, along with a handful of other vocal critics, are doing what the British government is not: loudly calling out atrocities. They're being labelled as terrorist-adjacent for their trouble, as they provide a focus for people appalled at the genocide, appalled at the complicity of the US and Britain. Along with the marches, along with other musicians such as Fontaines and Macklemore, they are providing an unofficial form of anger management. It must be infuriating therefore for those keen to shut them up to see how the more Kneecap hold their nerve, hold their principles ('If it comes down to awards or breaking America by sacrificing what you believe in, then America can go fuck itself') the bigger they get. Cancelled from a Scottish festival that caved to 'safety concerns', they sold out an alternative venue in seconds. Glastonbury refused to cancel them. And in September, they play their biggest venue to date — Wembley Arena. The cancelling is not going well. I'm off to google the Irish for 'fight the power'. Read More Film Reviews: How to Train Your Dragon makes superb use of Northern Irish scenery
Irish Examiner
9 hours ago
- Irish Examiner
Global interest rates remain in limbo
Multiple central banks are set to keep interest rates frozen in the coming week while continuing to gauge the impact of trade disruptions instigated by US president Donald Trump. From Washington to London, wary officials in countries that account for two-fifths of the global economy may display a collective sense of paralysis as they assess risks to inflation and growth from tariffs and stop-start commerce flows. Renewed tensions in the Middle East will only add to their conundrum. Their challenge was articulated on June 3 by the Paris-based OECD, which cut forecasts for global economic expansion while warning that protectionism is adding to consumer-price pressures. The toll that trade tensions are taking on world prosperity is likely to feature as the Group of Seven Leaders meet in Canada. Investors will focus most on the Federal Reserve decision on Wednesday, the eve of Trump's 150th day in power. Observers reckon officials there are still months away from being able to make a settled judgment on the implications of White House policy on the economy. The Bank of Japan, meanwhile, may hold off on a rate move while adjusting bond purchases, and counterparts in the UK and Norway are seen following suit with unchanged borrowing costs. In all, central banks responsible for six of the 10 most-traded currencies in the world are set for decisions. Among them, only those in Sweden and Switzerland are anticipated by economists to tweak rates, with small cuts predicted for each. Peers in Brazil, Chile, Indonesia, and Turkey may also deliver no change as policymakers digest domestic developments and international events. The European Central Bank (ECB) is not due to meet again to discuss interest rate cuts until July 23. The European Central Bank in Frankfurt. Picture: Daniel Roland/AFP via Getty However, a number of eurozone central bankers will make appearances during the week including the Bundesbank chief on Monday, an event in Milan featuring as many as six governing council members on Wednesday, and an address by ECB president Christine Lagarde to a Ukrainian central bank conference on Thursday. The Bank of England will announce its rate decision at noon London time on Thursday, the day after UK inflation figures are released. A vote to hold policy at 4.25% is widely expected, despite signs that UK tax increases and US tariffs are weighing on growth and causing job cuts. Elsewhere, a flurry of Chinese economic data, UK inflation, and several speeches by ECB officials might draw attention in one of the more packed weeks of the year so far. US economic data in the holiday-shortened week include the latest readout of consumer demand. Economists project a decline in May retail sales, primarily due to fewer motor vehicle purchases. Excluding autos and gasoline, however, Tuesday's report is likely to show sales firmed after a soft start to the second quarter. Concerns have been building that flagging consumer sentiment will translate into a sustained pullback in household demand. Also on tap are reports on May housing starts and industrial production. The Fed's production report on Tuesday is seen showing a second month of declining manufacturing output, as factories contend with uncertainty stemming from trade policy. Economists forecast figures on Wednesday will show little change in new residential construction, consistent with a sluggish housing market that's battling various headwinds, including high borrowing costs. The Bank of Canada's summary of deliberations will offer new insight into how policymakers are thinking about the future rate path, after they held borrowing costs steady while telegraphing that a cut may be needed if the economy weakens and inflation is contained. The Chinese government on Monday is set to release a slew of figures on its economy including home prices, retail sales, industrial production, foreign direct investment, and the jobless rate. Economists expect that retail sales slowed in May from the prior month, industrial activity held up as companies frontloaded manufacturing, and property investment contracted once again. Japan starts releasing a number of important insights on Wednesday, including exports that likely contracted in May — the same for machine orders, as US tariff policy weighed on demand. National consumer prices likely strengthened in the month on a core basis in data due on Friday. Bloomberg
Irish Examiner
a day ago
- Irish Examiner
The landlord: 'I never signed up to be that f***ing b***ard'
In 2003, I was 37 and doing just fine. Jack's army was coming home we couldn't give the Eurovision away, the Chinese loved Riverdance, and everything Irish seem to be sprinkled with gold dust. My generation was raised by ambitious parents who had lived a hard life in the 1950s. They wanted their kids to have what they had not and were willing to sacrifice to put us in position to avail of the opportunities that hadn't existed in their time — universal second-level education and invigorated schools such as the North Mon, who did their bit in putting some intellectual balance back in the city. My brother and I both went to college and got our degrees. For us and for the country, the word was about that our time had arrived. Unfortunately, the country had no muscle memory when it came to boom and bust cycles. Risk was taking a dive off the high board in the Lee Baths — in relation to property it did not compute. My first foray into property was quite a swashbuckling affair. With a friend and a €7,000 credit union loan guaranteed by my mother, we brought a sliver of a pub wedged into the space where Patrick Hill joins McCurtain Street. That wasn't to be the last time I heard the word guarantee. Apparently, the pub had previously been the central hub for the Cork gay community and Na Piarsigh hurling club, a winning formula if ever there was one. Shortly after that, an opportunity arose to purchase four houses in rural North Cork. Ulster Bank was offering 105% five-year interest-only tracker mortgages. Our plan was simple. We would use the Germans' money to buy, hold for five years, and having had the benefits of an uplift, sell the properties, pay off the mortgages and retain the profit to be rolled over in the next adventure. The properties were purchased in 2003 and the plan was to sell in 2008 just before the interest-only tracker expired. One of the properties is about 40km from my home and difficult to get to. For the past 20 years, this has been the home to a family who professionally are my tenants, but who personally are my friends. The rent was set 20 years ago at €650 per month. We left it alone, and they left me alone. I did try to amend the rent before the last State intervention but it transpired that it, even though it was very isolated, it was within the Fermoy electoral area and therefore the rent could not be increased. The market rent is now approximately €2,000 per month. My tracker mortgage has had a good run of recent times, but this was not always the case and my subsidy of what is a State responsibility has cost me dearly. In the Government's private rental sector changes, the institutions will be sorted but it looks bad for me — cap of 2% rent and minimum of six years tenure. The accidental landlords will once again be cannon fodder for what the constitution describes as the exigencies of the common good. In truth, I can't see any combination of politicians left to their own devices squaring this circle. I do feel the idea of a property tsar with teeth and with follow-through is the way forward. My preference would be to look at it with clear eyes and appoint someone who is not a politician or a civil servant. but is politically astute, respected and who gets things done. I do fully appreciate mine is only one side of the story. On the other side, we have a family who are part of the community and who will find it next to impossible to locate alternative accommodation. I drove from Ballycotton to Cork last weekend and saw nothing but green fields. Land is not our problem. The larger builders insist if given the right conditions, personnel is not a problem, and the banks as an act of contrition should do as directed and fund viable projects if promoted by experienced operators and stick with them until completion, even if the going gets sticky. We live in a small country with an intelligent, young and charitable population. Fixing this should not be beyond us. Having got my wind back before tea, the 9pm news knocked me backwards and just left me uncertain and unsure. This time, my muscle memory did kick in and at 9.20pm, I drove into town, took myself to the RTB website, and prepared as best I could four notices to quit with supporting documents, including the statutory declaration which will confirm that it is my intention to sell the properties. I put my notices in the letterbox and called the tenants the next morning to let them have the bad news. To my horror, I discovered that one had just lost her husband and this will hit her terribly. I do fully appreciate mine is only one side of the story. On the other side, we have a family who are part of the community and who will find it next to impossible to locate alternative accommodation. Their plight is exponentially worse than mine. However, neither of us should be put in this position. The country needs accommodation, and we need a lot of it, but what we really need is certainty. Release those landlords currently trapped and start again with a modern, fair and permanent regime. Keep tinkering and they will sink us all. I never signed up to be that f***ing b***ard. Kevin O'Donoghue is a solicitor and founder of Read More Rental sector changes will encourage landlords to evict tenants, Focus Ireland warns
