President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
U.S. stock futures surged Monday morning after President Trump said China is ready to come back to the negotiating table following a phone call Sunday and the two countries...Marketsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
China's state media is putting up a brave front as the country's trade war with the U.S. escalated sharply over the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
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Starbucks will start selling the pumpkin cream cold brew and other items from its fall menu Tuesday.Restaurantsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
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
Japan should be careful about recent remarks by U.S. President Donald Trump on currencies and might need to convince Washington its monetary easing is not aimed at weakening the yen but beating deflation, a finance ministry official said on Saturday.
The U.S. dollar fell the most in three weeks on Friday against a basket of six major currencies after Trump complained again about the greenback's strength and about Federal Reserve interest rate rises.
Trump is not trying to influence currency markets, Treasury Secretary Steven Mnuchin has said, reiterating that a strong U.S. dollar reflects a strong U.S. economy and is in the United States' long-term interest.
"This time, the targets are China and the European Central Bank. But the content of criticism is the same so we need to be careful," the Japanese official told reporters on the sidelines of a G20 meeting in the Argentine capital.
"If necessary, we may need to remind the United States about our past discussions on monetary policy" that is not targeting currencies but domestic policy objectives, he added.
The Bank of Japan has pursued an aggressive monetary stimulus to achieve its elusive 2 percent inflation target. Despite five years of massive money printing, inflation has struggled to accelerate but the yen has steadily weakened.
That could make Japan vulnerable to criticism of being a currency manipulator as it remains on the U.S. Treasury's monitoring list.
China is the primary target, however, as Beijing accounts for the "bulk of the U.S. trade deficit", Japanese Finance Minister Taro Aso told reporters on the sidelines of the G20 meeting of finance ministers and central bank governors.
Rising trade tension has fueled Japan's concerns over currency volatility, which could prompt an appreciation in the safe-haven yen and threaten its export-reliant economy.
Aso underscored the need to boost global growth through free and fair trade, saying no country would benefit from pursuing inward-looking policy through protectionist measures.
"Excessive current account imbalances should be resolved through multilateral, not bilateral, framework," Aso added.
"The matter should be dealt with through macroeconomic policy and structural reform by rebalancing savings and investments, instead of imposing tariffs."
Aso voiced concerns at the G20 that acceleration of monetary policy normalization in advanced economies could weaken emerging market currencies and cause capital outflows from countries such as China.
At the meeting, Japan asked China for clarification of its yuan currency policy, seeking factors behind its depreciation.