Latest news with #US-China
&w=3840&q=100)
First Post
32 minutes ago
- Business
- First Post
China asks US to end 'discriminatory' trade restrictions and uphold Geneva consensus
China urged the United States to end 'discriminatory restrictions' against Beijing and for the two sides to 'jointly uphold the consensus reached at the high-level talks in Geneva,'. read more China on Friday called on the United States to lift what it described as 'discriminatory restrictions' against Beijing and emphasised the need for both countries to uphold the agreements reached during recent high-level talks in Geneva, according to a statement from the Chinese embassy in Washington. The statement came shortly after US President Donald Trump sharply criticised China , accusing it of 'totally violating' the preliminary deal struck in Switzerland two weeks ago in order to ease tensions in the ongoing trade dispute between the two global economic powers. STORY CONTINUES BELOW THIS AD 'Since the China-US economic and trade talks in Geneva, both sides have maintained communication over their respective concerns in the economic and trade fields on various bilateral and multilateral occasions at multiple levels,' Embassy spokesperson Liu Pengyu said. Earlier, US trade representative Jamieson Greer also echoed Trump's allegation, saying, 'We are very concerned with China's purported non-compliance with the temporary trade deal. The 'United States did exactly what it was supposed to do, and the Chinese are slow rolling their compliance,' alleged Greer. He called that 'completely unacceptable and has to be addressed.' Trump's trade tension with China: A look at the numbers Under Trump's presidency, the US-China trade war intensified, with tariffs peaking at a 145 per cent rate on Chinese imports through the 'Liberation Day' trade package. This led to a sharp contraction in China's manufacturing sector, with the Purchasing Managers' Index (PMI) hitting a 16-month low, reflecting reduced factory activity and export orders. Cargo shipments from China reportedly dropped by up to 60 per cent, and the broader economy showed signs of slowing growth. In May, a landmark trade deal was signed in Geneva , with both nations agreeing to cut tariffs by 115 per cent while keeping a 10 per cent tariff in place. China also committed to eliminating retaliatory tariffs and halting non-tariff countermeasures against the US. The Trump administration celebrated the agreement as a major victory, aimed at correcting unfair trade practices and narrowing the significant US trade deficit with China. With inputs from agencies
Yahoo
an hour ago
- Business
- Yahoo
Why Palantir (PLTR) Stock Is Up Today
Shares of data-mining and analytics company Palantir (NYSE:PLTR) jumped 5.7% in the afternoon session after the New York Times reported on the company's expanded contracts with the US government, providing more insights into the depth and breadth of Palantir's government work, which included streamlining data sharing across government agencies under the Trump administration. This further confirmed the usefulness of Palantir's Foundry platform and raised optimism about the company's government business as well as the near-term growth potential. After the initial pop the shares cooled down to $126.19, up 3.2% from previous close. Is now the time to buy Palantir? Access our full analysis report here, it's free. Palantir's shares are extremely volatile and have had 46 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 17 days ago when the stock gained 8.9% on the news that Bank of America analyst Perez Mora raised the stock's price target to $150 while maintaining a Buy rating. The analyst noted that PLTR was shipping products at a faster pace and noted the conversion funnel had become more efficient. Mora also called out an executive order to modernize US defense acquisitions as a potential catalyst. Separately, markets experienced a boost after data from the Bureau of Labor Statistics revealed that inflation for the month of April 2025 came in slightly better than expected. The CPI rose 0.2% from the previous month, in line with expectations, while headline inflation rose 2.3% year on year (vs estimates for a 2.4% y/y increase). The data revealed inflation continued to edge closer to the Fed's 2% target. The reaction wasn't anything wild, but the sentiment leaned positive. The Nasdaq led the way, climbing 1.7%, boosting some tech stocks. This added to the gains from the day before, which was sparked by a breakthrough in US-China trade talks as both sides agreed to pause some tariffs for 90 days, signaling a potential turning point in ongoing tensions and cooling fears of a prolonged trade war. Palantir is up 67.8% since the beginning of the year, and at $126.19 per share, it is trading close to its 52-week high of $130.18 from May 2025. Investors who bought $1,000 worth of Palantir's shares at the IPO in September 2020 would now be looking at an investment worth $13,283. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. 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
Time of India
an hour ago
- Business
- Time of India
US stock market today: Dow edges up but S&P 500 and Nasdaq fall as Trump's China tariff threat hits Apple, Nvidia, Regeneron and Gap—even as inflation cools
US Stock Market Today: S&P 500 and Nasdaq Slip as US-China Tensions Flare Up, Even as Inflation Cools- The stock market today showed mixed signals as Wall Street reacted to fresh concerns over US-China trade tensions while digesting key inflation data. The S&P 500 dropped 0.1%, and the Nasdaq Composite slipped around 0.3%. In contrast, the Dow Jones Industrial Average inched up by 0.1%, showing some resilience. Investors faced two competing stories: cooling inflation pressures and growing uncertainty around tariffs between the world's two biggest economies. President Trump's latest remarks about China 'totally violating its agreement' with the US reignited trade concerns, especially as talks appear to have stalled. Meanwhile, inflation data brought a bit of relief, showing price pressures are starting to ease. Market summary – how the major indexes moved S&P 500: Fell 0.1% Nasdaq Composite: Dropped 0.3% Dow Jones Industrial Average: Rose 0.1% Despite trade concerns, the Dow showed resilience, while tech-heavy indexes slipped slightly amid cautious sentiment. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Click Here To Read More - micro segmentation software Expertinspector Click Here Key market drivers 1. Trump's tough talk on China renews trade war fears President Trump accused China of 'totally violating its agreement' with the U.S. Trade talks are reportedly 'a bit stalled,' according to Treasury Secretary Scott Bessent. Tariff tensions are escalating beyond goods to include chip export restrictions and visa issues. A U.S. appeals court paused a lower court ruling that blocked Trump's tariffs—giving the White House until Monday to respond. 2. PCE inflation data shows cooling price pressures Core PCE (month-over-month): +0.1% (unchanged from March, in line with forecasts) Core PCE (year-over-year): +2.5% (down from 2.7% in March) Headline PCE (year-over-year): +2.1% (slightly below the expected 2.2%) Investor sentiment takeaway: Easing inflation could reduce pressure on the Federal Reserve to raise interest rates again. Monthly market performance – is May still ending strong? S&P 500: Up +6% for May Dow Jones: Gained +4% Nasdaq Composite: Surged nearly +10%, led by a tech stock rebound Despite daily volatility, May is closing with solid gains across the board. Live Events Stocks to watch today Regeneron Pharmaceuticals (REGN) Shares plunged over 17% Reason: Disappointing late-stage trial results for its smoker's lung disease drug Despite earlier promising results, the final trial failed to meet expectations, triggering a sharp selloff Other notable movers: Gap (GPS): Fell 17% after a weak Q2 forecast Ulta Beauty (ULTA): Rose 7% after strong Q1 results Dell Technologies (DELL): Up 1.7% on strong revenue beat Consumer sentiment – signs of stabilization University of Michigan's final May reading: Held steady, breaking a 4-month decline streak Positive factor: Temporary China tariff pause boosted economic optimism Inflation expectations Long-run (5-10 years): Dropped to 4.2% (from 4.4% in April) Short-run (1 year): Ticked up to 6.6% (from 6.5%) Why are investors worried about Trump's new China tariff comments? On Friday, President Trump escalated rhetoric against China, accusing Beijing of breaking its deal with the US just weeks after the two nations had agreed on a temporary tariff truce. 'They've totally violated their agreement with us,' Trump told reporters, stoking fears of a renewed US-China trade war. Talks between Washington and Beijing have reportedly hit a roadblock. Scott Bessent told Fox News that discussions are 'a bit stalled,' suggesting only a direct call between Trump and Chinese President Xi Jinping could push things forward. The standoff isn't just about tariffs anymore—it now includes chip restrictions and visa issues, adding layers of complexity to already tense negotiations. Adding to the legal confusion, a US appeals court on Thursday paused a trade court decision that had blocked Trump's global tariffs. The White House now has until Monday to challenge the ruling, which could reshape how tariffs are handled going forward. How is the cooling PCE inflation data affecting market sentiment? While trade headlines dominated attention, the latest PCE inflation report also moved markets. The core Personal Consumption Expenditures (PCE) index, the Federal Reserve's preferred inflation gauge, rose just 0.1% month-over-month in April. That's the same rate as in March and exactly what economists had forecast. On a yearly basis, core PCE inflation came in at 2.5%, down from March's 2.7%, and matched analyst expectations. Meanwhile, headline PCE rose 2.1% year-over-year, slightly below the 2.2% projection. These numbers suggest that inflation is easing, though still above the Fed's 2% target. The market took this as a positive sign, as it could reduce pressure on the Fed to hike interest rates further. Still, uncertainty from trade tensions has kept investors cautious. Is the stock market still on track for a strong may finish? Despite the choppy session, US stocks remain on pace to close May with solid gains. Here's where the major indexes stand heading into the final trading day of the month: S&P 500: +6% in May Dow Jones: +4% for the month Nasdaq Composite: Nearly +10%, boosted by a tech sector rebound Even with the ups and downs triggered by trade headlines and inflation reports, investors are looking at a winning week and month. The strong performance from tech giants has helped power the Nasdaq's rally, reflecting renewed optimism in growth stocks. What happened to Regeneron stock and why did it fall so sharply? In individual stock news, Regeneron Pharmaceuticals (REGN) took a hard hit on Friday. Shares dropped over 17% after the biotech firm announced mixed trial results for its new drug targeting smoker's lung disease. While the drug failed to show strong results in a late-stage trial, it did perform better in an earlier-stage study. Still, investors were disappointed by the setback, leading to a sharp selloff in the stock during early trading. Is consumer sentiment improving or staying flat? According to the University of Michigan's consumer sentiment survey, confidence among US consumers stabilized in May. The final reading for the month showed sentiment holding steady compared to April, breaking a four-month decline streak. One factor that helped? A temporary pause on certain China tariffs, which boosted optimism about the economy's direction. Joanne Hsu, director of consumer surveys at the university, explained: 'Expected business conditions improved after mid-month, likely a consequence of the trade policy announcement.' In terms of inflation expectations: Long-run inflation outlook fell to 4.2% from 4.4% in April Short-run (1-year) expectations rose slightly to 6.6% from 6.5% While this data shows some relief, Hsu noted that consumers remain concerned. 'These positive changes were offset by declines in current personal finances stemming from stagnating incomes throughout May,' she said. What's next for the stock market and economy? As May wraps up, investors will likely stay focused on US-China developments, especially with Monday's court deadline looming for the White House on tariffs. At the same time, attention will turn to whether the Fed sees enough progress on inflation to hold off on further rate hikes. With solid month-end gains across major indexes and cooling inflation numbers, markets have reasons to stay optimistic—as long as geopolitical tensions don't boil over again. The stock market today reflected a tug-of-war between easing inflation and renewed global trade worries. While Friday was mixed, the broader month paints a more hopeful picture for US equities. FAQs: Q1: What caused the stock market to dip today? Rising US-China tensions and renewed tariff fears made the market slip despite cooling inflation data. Q2: How did PCE inflation data affect investors? The PCE index showed inflation is easing, giving hope the Fed might avoid more rate hikes.
Yahoo
2 hours ago
- Business
- Yahoo
Tariffs: Does Trump need a backup plan amid legal pushback?
President Trump is claiming that China has "totally violated" its trade agreement, in a post on Truth Social after US Treasury Secretary Scott Bessent commented that negotiations with Chinese trade officials have become "stalled." This all comes after Thursday's legal whiplash, where a US appeals court temporarily reinstated several of the administration's sweeping tariff policies after a US trade court ruled them to be illegal. Strategas Securities managing director of policy research Jeannette Lowe joins the Morning Brief team to share her perspective on the latest US-China tariff drama and what Trump's next step in his tariff strategy could look like. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. President Trump taking to truth social this morning claiming China violated its trade agreement with the US. It comes a day after Treasury Secretary Scott Beson says the stalled trade talks could warrant a call between President Trump and President Xi. Despite the 90-day pause on reciprocal tariffs that went into effect May 14th, tensions remain high. Here with more on the ongoing negotiations. We've got Jeannette Lo who is the strategist securities managing director of policy research here. I just want to get your reaction to the latest via social media this morning from Trump and and what that could entail kind of going into the weekend. Well, thank you for having me. I think one of the things that's interesting is that, you know, we had a court decision on Wednesday night overturning the authority for the president to impose tariffs using national emergencies. Then you did actually get to stay yesterday, and now here you have Trump pressuring China over its deal that they reached to lower tariffs from the really high rates of 125% down to 10% or 30% depending on which, uh, you know, terrace you're calculating at the time. But I think the point is is that Trump is also trying to pressure trade partners to show that he is still going to pursue this trade agenda of his even if there is some uncertainty that has been caused by the court decision earlier this week. And we've always been of the view that trade decisions are going to be a little bit different with China than the rest of the world. We think Trump is going to be much more hawkish with regard to China than he is with other countries, and this kind of plays into that where he is really trying to pressure China and show a little bit more stringency with them with regards to the tariffs and talking about the fact that they are not moving well in a particular direction to get a deal. But that was not necessarily a surprise. I think if we had seen a message like that coming from another country like Europe, which we saw last Friday, that would have been probably a different story. Yeah, I think that's a really great overview, and it's something that is interesting given the fact that we did have this appeal coming in overnight here. I I'm just curious, Jeanette, can you kind of lay the groundwork for where you see these tariffs heading at the current moment? Like did this ruling actually put any sort of bounds on the president's tariff policy in your view that are going to stay in place long term? Right. I think the main point is that it put, uh, it put a barrier on the president's ability to do it in an unbounded manner. That was kind of the word that was using used by the the Court of International Trade when they made their decision. So I think what's important here is that it makes it more difficult for Trump to impose more tariffs, but it doesn't take away his ability to do so. So the administration has a backup plan. Obviously, if the tariffs had to be removed immediately and the stay had not been granted, that would have caused a lot more disruption to the markets, put tariffs on, take them off, then they're probably going to go back on again. But I think what's important is we showed that we still have section 232, which is the way that the Trump administration is imposing tariffs on goods like steel, aluminum, autos, auto parts, potentially pharmaceuticals and semiconductors in the future. And then there's also these other, um, authorities. So we had section 301 that was used to impose tariffs on China in Trump's first term. That is still a tool that can be used to even increase tariffs on China quite quickly. Um, but then the Trump administration has other tools. There's a talk about whether or not he could put some tariffs in place at 15% for 150 days while they do investigations on a country by country basis to then impose other tariffs. That's kind of a clunky way to do this, but at the same time there's another method as well. There's section 338, which means that they could put tariffs in place. They only have to wait 30 days. They don't have to do an investigation, but they could impose tariffs up to 50%. So I think the larger message is that the tariffs are not necessarily going away. There's just probably even more uncertainty now about what comes next and when and when will this play out through the legal system, and do we keep the current tariffs in place or does the administration need to go to a backup plan?
The Star
2 hours ago
- Politics
- The Star
Macron urges Asia and Europe to unite to resist 'spheres of coercion'
Emmanuel Macron, France's president, left, and Bastian Giegerich, director-general of the International Institute for Strategic Studies, during the IISS Shangri-La Dialogue in Singapore, on Friday, May 30, 2025. France and Singapore signed a wide-ranging deal to enhance nuclear power and clean energy cooperation during President Emmanuel Macron's visit to the city-state. -- Photographer: Ore Huiying/Bloomberg SINGAPORE/JAKARTA (AFP): French President Emmanuel Macron on Friday urged Europe and Asia to build a new alliance to hold off big powers seeking to build "spheres of coercion", in a swipe at China and Russia. Macron was speaking at the Shangri-La Dialogue in Singapore, Asia's major annual defence and security conference, as Russia defies diplomatic pressure for a ceasefire in Ukraine and capitals fret about Beijing's growing assertiveness on Taiwan and the South China Sea. Macron urged the international community to unite in the face of countries seeking to grab territory and resources. "We have a challenge of revisionist countries that want to impose -- under the name of spheres of influence -- spheres of coercion," Macron said. "Countries that want to control areas from the fringes of Europe to the archipelagos in the South China Sea... that want to appropriate resources, whether fishing or mineral and crowd out others for their benefit." Defence chiefs and officials from around the world are attending the annual forum that has in recent years become a barometer of US-China relations. US Secretary of Defense Pete Hegseth will address the conference on Saturday after President Donald Trump fired a fresh salvo in his tariff battle with Beijing, which has roiled global money markets. But unusually, China has not sent its defence minister to Shangri-La, and will instead be represented by a senior officer from its People's Liberation Army's National Defence University. Since 2019 Beijing has regularly sent its defence minister to the Shangri-La meet, occasions that offered rare opportunities to hold face-to-face talks with US counterparts. - 'Build a new alliance' - Macron's speech came at the end of a tour of Vietnam, Indonesia and Singapore, which he used to present France as a reliable alternative for a region caught between Washington and Beijing. Asian countries have found themselves torn between Washington's tariff threats on one hand and Beijing, a major trading partner that has become increasingly forthright in territorial disputes in the South China Sea. Tensions between Washington and Beijing have ramped up since Trump returned to office in January, off the back of an escalating trade standoff, intensified technological rivalry, and strategic military posturing. Macron urged leaders at the conference to "build a positive new alliance between Europe and Asia, based on our common norms, on our common principles". "Our shared responsibility is to ensure with others that our countries are not collateral victims of the imbalances linked to the choices made by the superpowers," he said. Macron urged China to stop its ally North Korea from sending forces to help Russia's war in Ukraine if Beijing "doesn't want NATO being involved in Southeast Asia or in Asia". He warned Asian leaders against seeing the war in Ukraine as a distant problem with no relevance to them. "If we consider that Russia could be allowed to take a part of the territory of Ukraine without any restriction, without any constraint, without any reaction of the global order, how would you phrase what could happen in Taiwan?" he said. "What would you do the day something happens in the Philippines?" - 'Kill our credibility' - Macron also weighed in on the war in Gaza, warning that abandoning the shattered Palestinian enclave would kill the West's credibility with the rest of the world. "If we abandon Gaza, if we consider there is a free pass for Israel, even if we do condemn the terrorist attacks, we will kill our credibility," he said. His comments came as Israel accused him of undertaking a "crusade against the Jewish state" after he called for European countries to harden their stance on Israel if the humanitarian situation in Gaza did not improve. Beyond the conflicts in Gaza and Ukraine, the recent clashes between India and Pakistan will lurk in the shadows of the conference, which runs until Sunday. An April 22 attack on tourists in Indian-administered Kashmir triggered some of the worst cross-border clashes between the nuclear-armed neighbours in years, with at least 70 people killed. Muslim-majority Kashmir is claimed in full by both countries, which have fought multiple wars over the Himalayan territory since their 1947 independence from Britain. New Delhi accused Pakistan of backing the attack, a charge Islamabad denies. Neither side has sent their defence ministers, instead dispatching senior military delegations. No meeting between the two sides has been announced. - AFP
