The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
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Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
U.S. government debt yields inched lower on the last trading day of the week after a report on consumer sentiment revealed that optimism receded to its lowest level in half a year.
Consumer sentiment hit a six-month low, but held near the average print for the prior 12 months thanks in part to rising fears surrounding a trade war between the United States and its economic partners.
Consumer sentiment fell to 97.1, below an estimated 98.2, according to a report from the University of Michigan.
"The darkening cloud on the horizon, however, is due to rising concerns about the potential negative impact of tariffs on the domestic economy," Richard Curtin, director of the University of Michigan consumer survey, said in a statement.
The University of Michigan's report considers 500 consumers' attitudes about future economic conditions, including personal finances, unemployment, government policies and interest rates.
Trade anxieties continue to simmer away, after President Donald Trump and his administration published a list on Tuesday of 10 percent duties on $200 billion worth of Chinese goods, underlining that concerns surrounding a potential trade war with Beijing are not going away any time soon. The tariffs however won’t go into effect immediately, but will rather face a two-month review.
As trade turmoil bubbles away, investors will be turning their attention to the latest leg of Trump’s trip around Europe. On Friday, the U.S. incumbent is due to participate in a joint press conference with U.K. Prime Minister Theresa May, in addition to meeting with Queen Elizabeth II in Windsor.
This comes as several protests against the U.S. president’s visit are due to take place in the U.K.