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
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
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread 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
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
The investment management arm of Goldman Sachs scaled back its "overweight" exposure to emerging market assets Thursday, amid rising trade tensions between the U.S. and China.
"We have scaled back overweight exposure to EM (emerging market) currencies and EM debt until we gain clarity on the direction of travel for both U.S.-China trade relations and global growth, with the two being interconnected," Goldman Sachs Asset Management (GSAM) said in a note published Thursday.
Flows into emerging markets can be dependent on cheap capital from the Federal Reserve and are very sensitive to a change in monetary policy in the U.S. Add to that domestic factors such as high current account deficits, weak currencies and a dependence on commodities, these markets can make for a risky investment.
High risk may lead to higher returns, but for now the MSCI emerging markets index has fallen more than 11% over a 12-month period. Meanwhile, the major stock indexes stateside are all down more than 3% this month.
Last week, the U.S. raised tariffs on $200 billion worth of imports from China from 10% to 25%. In addition to this, President Donald Trump indicated that more tariffs will be applied to roughly $300 billion worth of goods imported from China.
China retaliated with tariffs worth $60 billion of goods imported from the U.S. from June 1. "These events mark an abrupt escalation in U.S.-China trade tensions after a period of relative calm since the fourth-quarter of 2018," GSAM said in a note.
Trade worries were eased slightly on Wednesday after CNBC reported Trump's plans to postpone auto tariffs by up to six months. The White House faces a Saturday deadline to decide whether to slap duties on car and auto part imports over national security concerns.
However, this didn't last long as Trump declared on Wednesday a national emergency over threats against American technology. The U.S. Department of Commerce announced the addition of Huawei Technologies and its affiliates to the Bureau of Industry and Security (BIS) Entity List, making it more difficult for the Chinese telecom giant to conduct business with U.S. companies.