Latest news with #ChinaTradeDeal
Zawya
15-05-2025
- Business
- Zawya
Dollar slips ahead of retail sales data as China-US trade optimism wanes
The U.S. dollar lost its footing against major peers on Thursday ahead of retail sales data that could offer clarity on how U.S. consumers fared in the face of tariff risks, while excitement over a China-US trade deal faded. The greenback has given up most of its gains from Monday after the United States and China announced a 90-day pause on most of the tariffs imposed on each other's goods since early April, easing fears of a global recession. "Markets have exhausted the positivity from the U.S.-China trade talk," said Benjamin Ford, strategist at Macro Hive in London. Safe-haven currencies gained with the Japanese yen strengthening 0.6% to 145.94 per dollar after having touched a one-month low of 148.65 this week. The Swiss franc firmed 0.5% to 0.8384 versus the dollar. The euro tacked on 0.2% to $1.1192. Most Asian currencies advanced versus the dollar too, led by a surge in the South Korean won for the second day after news that officials from South Korea and the U.S. met last week to discuss the dollar/won exchange rate led to a bout of dollar selling. The won surged 0.8% at 1,396.15 per dollar. The sudden lift in the won was reminiscent of an unprecedented two-day surge in Taiwan's currency at the start of May, which also coincided with the end of U.S.-Taiwan trade talks in Washington. The Taiwan dollar was 0.6% stronger to the dollar on Thursday. A Bloomberg report on Wednesday, however, said the U.S. is not negotiating for a weaker dollar as part of tariff talks, which has helped calm some nervousness in markets. The dollar index, which measures the U.S. unit against six other currencies, dipped 0.1% to 100.85, but on course to eke out a 0.4% gain for the week. Even so, the index is down nearly 7% in 2025. SHARP FALL U.S. President Donald Trump's aggressive and erratic trade policies have rattled investors' confidence in the dollar, leading to a sharp fall in U.S. assets. Although stock markets have recouped April losses, the dollar remains under pressure. "We've seen U.S. equities stabilize, but we haven't seen those inflows return (to the dollar). Some clients have lightened their dollar shorts but they're not looking to turn long in any single fashion," Ford said. Amundi Investment Institute turned cautious on the U.S. dollar in May versus a month ago, as it believes a rotation out of the U.S. will continue benefiting regions such as Europe, Emerging Markets, and Asia, strategists said in a note. A major market focus on Thursday will be U.S. retail sales data, and investors are also looking out for more details on possible trade deals after the U.S.-China tariff truce. "Hard data on US personal consumption have so far shown resilience despite weakness in consumer sentiment," said UniCredit investment strategist Thomas Strobel in a note, adding that U.S. data later in the day will test whether this resilience continued after sweeping U.S. tariffs last month. U.S. Treasury yields were elevated and the benchmark 10-year yield hovered near a one-month top, in part due to worries over Trump's budget package that would add trillions of dollars to the U.S. debt. Sterling firmed 0.2% to $1.328 against the U.S. dollar after data showed the UK economy unexpectedly grew in March. (Reporting by Ankur Banerjee in Tokyo and Medha Singh in Bengaluru; Editing by Edwina Gibbs, Ros Russell and Ed Osmond)
Mint
12-05-2025
- Business
- Mint
US-China trade deal: What transpired in two-day talks? Here's what to expect next
Following two days of trade negotiations in Switzerland, the lead US negotiator expressed optimism about resolving tensions between the world's two largest economies, praising the talks as 'a great deal of productivity.' According to Reuters, this comes after US President Donald Trump's imposition of steep tariffs on China, which prompted Beijing to take retaliatory measures, Reuters reported. U.S. Treasury Secretary Scott Bessent stated on Sunday that the discussions made 'substantial progress,' though he provided few details about the specific issues covered in the negotiations. He said more details would come at a briefing Monday. US Trade Representative Jamieson Greer suggested that an agreement had been reached but provided no details. He and Bessent briefly addressed reporters once talks had wrapped at the stately villa that serves as the residence of the Swiss ambassador to the United Nations in Geneva, but did not take questions., according to a report by Reuters. 'It's important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as far as maybe thought,' Greer said. But he also stressed that a top Trump priority means closing the U.S. trade deficit with China, which came to a record $263 billion last year. 'We're confident that the deal we struck with our Chinese partners will help us to resolve, work towards resolving that national emergency,' Greer said. White House Press Secretary Karoline Leavitt later clarified that the United States would not lower tariffs unilaterally. China would also need to make concessions, she said, as reported by AFP. "It's definitely encouraging," Asia Society Policy Institute (ASPI) vice president Wendy Cutler told AFP on Sunday after the talks had concluded. "The two sides spent over 15 hours in discussions," she said. "That's a long time for two countries to be meeting, and I view that as positive." But, she added, 'the devil will be in the details.' The White House subsequently issued a statement titled, 'U.S. Announces China Trade Deal in Geneva' but offering only the same quotes by Bessent and Greer. The Chinese delegation held a subsequent news conference where it described what occurred as 'candid, in-depth and constructive dialogue." Chinese Vice Premier He Lifeng said both sides had agreed to 'establishing a consultation mechanism' for further discussions on trade and economic issues. China's negotiators also said that they and the U.S. team would be releasing a joint statement on Monday — though the timing was still uncertain. 'I think, no matter when this statement is released, it's going to be good news for the world,' said Li Chenggang, the Chinese ambassador to the World Trade Organization. Beijing, however, appeared largely more measured about the negotiations' overall direction, noting in a Saturday night editorial published before the second day of negotiations kicked off, that it would 'firmly reject any proposal that compromises core principles or undermines the broader cause of global equity.' Negotiations could go a long way toward stabilizing world markets roiled by the US-China standoff that has ships in port with goods from China unwilling to unload until they get final word on tariffs. Last month, US President Trump increased US tariffs on Chinese goods to a combined total of 145%, prompting China to respond with a 125% tariff on American imports. These steep tariffs have essentially led both nations to stop trading many products with each other, disrupting a trade relationship that exceeded $660 billion last year. Although the Trump administration has placed tariffs on multiple countries, the trade conflict with China has been the most severe. It's important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as far as maybe thought. Among the US tariffs on Chinese products is a 20% levy aimed at pressuring China to take stronger action against the export of the synthetic opioid fentanyl into the U.S. We're confident that the deal we struck with our Chinese partners will help us to resolve, work towards resolving that national emergency.
Yahoo
03-05-2025
- Politics
- Yahoo
ThinkCareBelieve: Week 15 of the Trump Administration
Washington, DC, May 02, 2025 (GLOBE NEWSWIRE) -- Link to ThinkCareBelieve's Article: Article on Deportations, Criminal Aliens and Child Trafficking- What is The Truth? ia moving forward at an incredible pace and ThinkCareBelieve has published an article to chronicle it. The article captures an ever strengthening economy, with prices down, jobs going way up in April with a 177,000 additional jobs despite a strong government down-sizing. May 1st marked the National Day of Prayer and ThinkCareBelieve's article has the whole uplifting service which was powerful and moving. ThinkCareBelieve's article has the dynamic 4/30/2025 Trump Cabinet Meeting with important progress and updates and exciting things to which we can all look forward. Important progress was marked for the Ukraine Minerals Deal and the China Trade Deal, and a crackdown on organizations that continue to spread communist woke agenda. The article has hope for farmers with fantastic MAHA collaboration and new improvements and expansions, and criminals being caught. The article also shows the one hundred signs with mug shots of criminal alien gang and cartel members that dotted the lawn along the roadway right behind where the press does their on-camera reporting. The signs listed what these criminals did to Americans while in America illegally. The Press really couldn't ignore them. The article also includes the Angel Parents of victims of these criminal alien gang and cartel members standing next to them with pictures of the loved ones that were brutally harmed and slain by these criminals. Point well made. It is very important that we take the current crisis of child trafficking and child abuse seriously. We as decent human beings must stand strongly in the way of predators and be their voice. Protect the vulnerable. is an outlook. ThinkCareBelieve's mission for Peace advocacy facilitates positive outcomes and expanded possibilities. To achieve Peace, we will find the commonalities between diverse groups and bring the focus on common needs, working together toward shared goals. Activism is an important aspect of ThinkCareBelieve, because public participation and awareness to issues needing exposure to light leads to justice. Improved transparency in government can lead to changes in policy and procedure resulting in more fluid communication between the public and the government that serves them. America needs hope right now, and Americans need to be more involved in their government. ### CONTACT: CONTACT: Joanne COMPANY: ThinkCareBelieve EMAIL: joanne@ WEB: in to access your portfolio
