Latest news with #tariffWar
Bloomberg
23-05-2025
- Business
- Bloomberg
Canada Retail Sales Rose Again in April Despite Tariff War
Canadian consumers kept on spending last month, defying a tariff war that threatens their employment and wealth. An advance estimate suggests receipts for retailers rose 0.5% in April, Statistics Canada said Friday. That extended a 0.8% gain in March, which beat the median projection in a Bloomberg survey of economists.
South China Morning Post
21-05-2025
- Business
- South China Morning Post
US envoy holds ‘candid' first talks with senior Chinese official as trade tensions persist
Vice-Minister of Foreign Affairs Ma Zhaoxu held a 'candid and in-depth' discussion with newly arrived US ambassador to China David Perdue on Tuesday as trade tensions persisted. This marked the US envoy's first meeting with a senior Chinese official since assuming his post in Beijing last week. The two sides had a 'candid and in-depth' exchange of views on China-US relations and important issues of mutual concern, according to a statement from China's foreign ministry. 'China views and handles China-US relations in accordance with the three principles of mutual respect, peaceful coexistence and win-win cooperation proposed by Chinese President Xi Jinping, and firmly safeguards its sovereignty, security and development interests,' Ma was quoted as saying in the statement. 'We hope that the US will meet China halfway to jointly promote the stable, healthy and sustainable development of China-US relations.' The meeting took place after a high-stakes agreement between Beijing and Washington in Geneva earlier this month to temporarily reduce tariffs on each other for 90 days. The unexpected truce came after rounds of tit-for-tat levies between the two nations sparked by Trump's launch of a global tariff war on April 2.
Bloomberg
13-05-2025
- Business
- Bloomberg
Bessent Is Upbeat on China Trade Talks Thanks to 2020 Framework
By Updated on Save US Treasury Secretary Scott Bessent said the trade deal from Donald Trump's first tariff war with China gives the world's two biggest economies 'a very good framework' for upcoming discussions after the temporary lifting of levies between them. 'We are not starting from ground zero,' Bessent said at a Saudi-US Investment Forum in Riyadh on Tuesday. 'We have a framework and we can go from there.'
Reuters
13-05-2025
- Business
- Reuters
Australia consumer sentiment recovers partially from tariff blow
SYDNEY, May 13 (Reuters) - A measure of Australian consumer sentiment partially rebounded in May as the initial shock of U.S. President Donald Trump's tariff war faded a little, an improvement that should be underpinned by the latest truce with China. A Westpac-Melbourne Institute survey showed on Tuesday its main index of consumer sentiment bounced 2.2% in May, retracing some of the 6.0% dive suffered in April when Trump first announced his "reciprocal" tariffs. The index was 12% higher than a year earlier at 92.1, though that meant pessimists still outnumbered optimists. Matthew Hassan, Westpac's head of Australian macro-forecasting, said overall sentiment got a modest boost from the clear victory of the Labor government in a national election on May 3. Sentiment among Labor voters jumped 4.5% to a high 109.6, while confidence among supporters of the Liberal National opposition fell 0.7% to 85.5. The survey found respondents were more upbeat about their personal finances, which climbed 7.8%, while the economic outlook for the year ahead rose 2.8%. The index on whether it was a good time to buy a major household item also climbed 3.5%, leaving it almost 22% higher than a year earlier.
Times
07-05-2025
- Business
- Times
US and China trade talks to take place at the weekend
American and Chinese officials will finally hold trade talks later this week, a first attempt to limit the tariff war launched by President Trump on his 'liberation day' on April 2. In a co-ordinated announcement, spokespeople for the two governments said Scott Bessent, the US treasury secretary, Jamieson Greer, the trade representative, and He Lifeng, the Chinese vice-premier, would arrive in Switzerland on Friday for talks on Saturday and Sunday. 'I look forward to productive talks as we work towards rebalancing the international economic system towards better serving the interests of the US,' Bessent said in a statement on Tuesday evening. • China holds the cards over Trump — and a united Europe could too In Beijing the commerce ministry framed the talks as a
