Latest news with #USChina
Yahoo
10 hours ago
- Business
- Yahoo
Trump talks with Canada, India and Brazil in a stalemate as his tariff deadline looms
President Trump's tariff agenda is nearing a moment of truth with an Aug. 1 deadline just hours away and set to establish a new baseline rate of 15% on most of the world. Many final deals have come in a flurry (South Korea most recently) but three key nations across three continents — Canada, India, and Brazil — have seen their talks go sideways for vastly different reasons. Importers there are now likely to face higher rates at least for the time being, leaving relationships with the world's largest recipient of US goods (Canada), the world's fourth largest economy (India) and the western hemisphere's second populous nation (Brazil) all in flux. The lack of progress with these countries comes ahead of a Friday deadline that Trump and his aides are saying again and again is unmovable (Trump recently called it a "big day for America"). Aides also say that negotiations will continue past Aug. 1. The fate of the US-China trading relationship is another uncertainty, but negotiators appear to be close to at least another 90 day pause on tariff hikes. Treasury Secretary Scott Bessent told CNBC Thursday he will speak to the president Thursday about an extension with additional technical details still to be worked out but that they have "the makings of a deal." The administration also faces a legal hurdle as its Friday deadline approaches. A federal appeals court will hear arguments Thursday on legality of the authority Trump is claiming to impose these tariffs. A focus on Canada — with limited economic effects for now Trump reiterated the lack of progress with Canada Thursday morning with a Truth Social post where he brought the Middle East into the mix. "Wow! Canada has just announced that it is backing statehood for Palestine," he wrote. "That will make it very hard for us to make a Trade Deal with them." The post came in response to the news that Canada will join France and the United Kingdom in this largely symbolic move that Trump previously brushed off. It's the latest Trump missive and continues a string of critical comments about America's northern neighbor stretching back to the beginning of Trump's second administration. Trump is promising to move forward with 35% tariffs there, which would be a major setback in relations between the two countries but one with more limited economic effects for now. That's because about half of goods that travel between the two countries are able to trade largely duty free thanks to the United States-Mexico-Canada Agreement (USMCA). Mexico is also covered by the USMCA — and is facing 30% duties of its own Friday — but has escaped much rhetorical fire from Trump who has again and again chosen to clash with Canada. The USMCA isn't up for formal review until next summer, giving negotiators more time to get talks back on track. A likely tariff hike on India — but with talks ongoing India was the focus of another overnight social media post, with Trump lumping India in with Russia as "dead economies." It's a 180-degree turn of sorts from Trump after previously warm relations that saw the president warmly greet Indian Prime Minister Narendra Modi at the White House earlier this year. The tensions appear to stem from India's hard negotiating stance. Trump reiterated Friday morning that India's tariffs are too high in the latest sign that a deal may be a ways off in closely watched talks that have implications for Apple (AAPL) and its large iPhone manufacturing operations there. Indian officials were in Washington for talks in recent weeks and left without a deal but also sent signals that talks are making progress and that they feel an agreement could be struck in the fall. The back and forth also comes as many analysts say the heated rhetoric as of late is a way to get concessions. "India is the latest example where Trump's escalation is a sign that a deal is imminent," wrote Raymond James analysts in a note this week, calling this a "final opportunity to gain concessions before an agreement is made." Trump said Wednesday that talks with India continue and that he still considers Modi a friend, but for the moment he is promising 25% tariffs on the world's fourth largest economy and main regional economic counterweight to China. Trump has also pledged unspecified additional penalties on India because of the nations consumption of Russian oil. Trade troubles with Brazil without a clear offramp Meanwhile, any offramp with Brazil is much less certain. Trump is promised 50% tariffs there over what he describes as a witch hunt of Jair Bolsonaro. The former Brazilian president is facing a trial for his role in trying to overturn the results of his country's 2022 election. Trump moved forward with his 50% plans Wednesday with an executive order that claimed that "politically persecuting a former President of Brazil" was a key factor leading him to declare a national economic emergency and impose additional 40% tariffs — on top of existing 10% duties — but with some notable exceptions for things like orange juice and aircraft parts. Brazil has said that Trump's demand to intervene in the trial of Bolsonaro is a nonstarter and it's unclear what else they can offer — especially given that the US has a rare trade surplus with Brazil. Meanwhile, Trump's use of emergency powers to target Brazil has come under withering criticism with Melinda St. Louis, a trade director at the watchdog group Public Citizen, saying "it's hard to fathom a flimsier justification for a U.S. national emergency." Reuters is reporting that Brazil is expecting that 35.9% of its US exports — by value — will be hit by a steeper 50% tariff. All told, markets have largely shrugged off Trump's latest tariff deadline with investors apparently more focused on Big Tech earnings. But even with Trump promising to be "done" with trade after this week, the many loose ends between America and its 3rd, 10th, and 11th largest trading partners, according to the Census Bureau, aren't going away. That suggests efforts to find areas of agreement are likely to continue unabated. Ben Werschkul is a Washington correspondent for Yahoo Finance. Click here for political news related to business and money policies that will shape tomorrow's stock prices 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
Fox News
11 hours ago
- Business
- Fox News
US-China trade deal on the horizon, says Treasury secretary
FOX Business host Maria Bartiromo joins 'America's Newsroom' to discuss Treasury Secretary Scott Bessent's remarks suggesting a US-China trade deal could soon be reached.
CNA
3 days ago
- Politics
- CNA
CNA938 Rewind - Thai-Cambodia ceasefire: How it was reached
ASEAN chair Malaysia succeeded in securing an immediate and unconditional ceasefire in the violent Thai-Cambodia border dispute, which has displaced hundreds of thousands. Andrea Heng and Hairianto Diman analyse the calculations it took to secure the truce, including the roles of the US and China, with Dr Gregory Raymond, Senior Lecturer, Strategic and Defence Studies Centre, Coral Bell School of Asia Pacific Affairs.
Yahoo
3 days ago
- Business
- Yahoo
High Growth Tech In Asia And 2 Other Promising Stocks
As global markets respond to favorable trade deals and economic data, Asian tech stocks are capturing attention with their potential for high growth amidst a backdrop of optimism in U.S.-China relations. In this dynamic environment, identifying promising stocks often involves looking for companies that demonstrate strong innovation and adaptability in the face of evolving trade landscapes and technological advancements. Top 10 High Growth Tech Companies In Asia Name Revenue Growth Earnings Growth Growth Rating Accton Technology 22.05% 23.29% ★★★★★★ Eoptolink Technology 32.53% 32.58% ★★★★★★ Gold Circuit Electronics 20.76% 25.89% ★★★★★★ Zhejiang Lante Optics 21.61% 23.73% ★★★★★★ PharmaEssentia 31.60% 57.71% ★★★★★★ Fositek 30.51% 37.34% ★★★★★★ eWeLLLtd 24.95% 24.40% ★★★★★★ Shanghai BOCHU Electronic Technology 22.58% 23.53% ★★★★★★ Shengyi Electronics 26.23% 37.40% ★★★★★★ CARsgen Therapeutics Holdings 81.53% 96.08% ★★★★★★ Click here to see the full list of 167 stocks from our Asian High Growth Tech and AI Stocks screener. Here's a peek at a few of the choices from the screener. Electric Connector Technology Simply Wall St Growth Rating: ★★★★★☆ Overview: Electric Connector Technology Co., Ltd. specializes in the research, design, development, manufacture, and sale of micro electronic connectors and interconnection system products across various global markets with a market cap of CN¥19.40 billion. Operations: The company generates revenue through its extensive range of micro electronic connectors and interconnection system products, serving diverse markets worldwide including China, North America, Europe, Japan, and the Asia Pacific. With a market cap of CN¥19.40 billion, it focuses on innovation in design and development to cater to global demand. Electric Connector Technology is distinguishing itself in the high-growth tech sector in Asia with robust financial and operational metrics. The company's revenue is expected to surge by 22.1% annually, outpacing the CN market's 12.5% growth rate, while its earnings are forecasted to expand by an impressive 26.1% per year, also exceeding the broader market's 23.5%. This performance is underpinned by a significant R&D commitment that fuels innovation and competitive advantage in a rapidly evolving electronic industry landscape where technological advancements are critical. Moreover, at its recent Annual General Meeting, Electric Connector Technology not only showcased its financial health with a cash dividend of CNY 4.75 per ten shares but also highlighted its ability to generate high-quality earnings and maintain positive free cash flow, setting a solid foundation for future growth amidst dynamic market conditions. Delve into the full analysis health report here for a deeper understanding of Electric Connector Technology. Review our historical performance report to gain insights into Electric Connector Technology's's past performance. Ugreen Group Simply Wall St Growth Rating: ★★★★★★ Overview: Ugreen Group Limited focuses on the research, development, design, production, and sale of consumer electronic products both in China and internationally, with a market capitalization of CN¥20.34 billion. Operations: Ugreen Group generates revenue primarily through the sale of computer peripherals, totaling CN¥6.71 billion. The company's operations span both domestic and international markets, emphasizing research and development in consumer electronics. UGREEN Group is carving out a significant niche in the high-growth tech sector in Asia, particularly through its innovative product launches. On July 15, 2025, UGREEN announced its MagFlow Magnetic Power Bank, the first to achieve Qi 2.2 certification from the Wireless Power Consortium. This device supports up to 25W of wireless charging and is compatible with the latest iPhone models, showcasing UGREEN's commitment to leading-edge technology and user-centric design. Additionally, their revenue is expected to grow by an impressive 20.5% annually while earnings could surge by approximately 26.3% per year. These figures underscore UGREEN's robust position in a competitive market where research and development play a critical role; indeed, their R&D expenses have been strategically aligned to foster such innovative outputs. Take a closer look at Ugreen Group's potential here in our health report. Gain insights into Ugreen Group's past trends and performance with our Past report. Gold Circuit Electronics Simply Wall St Growth Rating: ★★★★★★ Overview: Gold Circuit Electronics Ltd. is a Taiwanese company specializing in the design, manufacturing, processing, and distribution of printed circuit boards with a market capitalization of NT$167.91 billion. Operations: Gold Circuit Electronics Ltd. generates revenue primarily through the manufacturing and sales of printed circuit boards, amounting to NT$41.95 billion. Gold Circuit Electronics has demonstrated robust growth with a 42.5% increase in earnings over the past year, significantly outpacing the electronics industry's average of 14%. Recent amendments to its Articles of Incorporation and presentations at major tech conferences underscore its proactive stance in governance and market engagement. With revenue and earnings expected to grow annually by 20.8% and 25.9% respectively, Gold Circuit is aligning its strategies to capitalize on market opportunities faster than many peers in Taiwan's tech landscape. This strategic positioning is further evidenced by their substantial R&D investments, aimed at sustaining innovation and competitive edge in a rapidly evolving sector. Click here and access our complete health analysis report to understand the dynamics of Gold Circuit Electronics. Assess Gold Circuit Electronics' past performance with our detailed historical performance reports. Summing It All Up Take a closer look at our Asian High Growth Tech and AI Stocks list of 167 companies by clicking here. Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up. Take control of your financial future using Simply Wall St, offering free, in-depth knowledge of international markets to every investor. Looking For Alternative Opportunities? Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SZSE:300679 SZSE:301606 and TWSE:2368. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ 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
Reuters
3 days ago
- Business
- Reuters
US, China hold new talks on tariff truce extension, easing path for Trump-Xi meeting
STOCKHOLM, July 28 (Reuters) - Top U.S. and Chinese economic officials met in Stockholm on Monday to resume talks to resolve longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce by three months. U.S. Treasury Chief Scott Bessent was part of a U.S. negotiating team that entered Rosenbad, the Swedish prime minister's office in central Stockholm in early afternoon. China's Vice Premier He Lifeng was also seen arriving at the venue on video footage. China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached preliminary deals in May and June to end weeks of escalating tit-for-tat tariffsand a cut-off of rare earth minerals. Without an agreement, global supply chains could face renewed turmoil from U.S. duties snapping back to triple-digit levels that would amount to a bilateral trade embargo. U.S. Trade Representative Jamieson Greer said that he did not expect "some kind of enormous breakthrough today" at the talks in Stockholm that he was attending. "What I expect is continued monitoring and checking in on the implementation of our agreement thus far, making sure that key critical minerals are flowing between the parties and setting the groundwork for enhanced trade and balanced trade going forward," he told CNBC. The Stockholm talks come hot on the heels of Trump's biggest trade deal yet with the European Union on Sunday for a 15% tariff on most EU goods exports to the United States, including autos. Trade analysts said that another 90-day extension of a tariff and export control truce struck in mid-May between China and the United States was likely. An extension would facilitate planning for a potential meeting between Trump and Chinese President Xi Jinping in late October or early November. The Financial Times reported on Monday that the U.S. 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. Previous U.S.-China trade talks in Geneva and London in May and June focused on bringing U.S. and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia's (NVDA.O), opens new tab H20 AI chips and other goods halted by the United States. So far, the talks have not delved into broader economic issues. They include U.S. complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Beijing's complaints that U.S. national security export controls on tech goods seek to stunt Chinese growth. "Geneva and London were really just about trying to get the relationship back on track so that they could, at some point, actually negotiate about the issues which animate the disagreement between the countries in the first place," said Scott Kennedy, a China economics expert at the Center for Strategic and International Studies in Washington. 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 U.S. policymakers. Analysts say the U.S.-China negotiations are far more complex than those with other Asian countries and will require more time. China's grip on the global market for rare earth minerals and magnets, used in everything from military hardware to car windshield wiper motors, has proved to be an effective leverage point on U.S. industries. In the background of the talks is speculation about a possible meeting between Trump and Xi in late October. Trump has said he will decide soon on a landmark trip to China, and a new flare-up of tariffs and export controls would likely derail planning.
