Retail, manufacturing, and coastal economies brace for impact as US-China trade tensions escalate
Since the imposition of a 145% tariff on Chinese imports in the US, American logistics firms have reported a sharp decline in container bookings
Many logistics firms are storing goods in warehousing or rerouting through Canada to wait out the tariff war
One went to the United States. The other went to China. It was a sign of the times. While the Swiss president was in Washington last week to lobby US officials over President Donald Trump's threatened 31% tariff on Swiss goods, the Swiss foreign minister was in Beijing, expressing his nation's willingness to strengthen cooperation with China and upgrade a free trade agreement. As Trump's trade war locks the world's two largest economies on a collision course, America's unnerved allies and partners are cosying up with China to hedge their bets. It comes as Trump's trade push upends a decade of American foreign policy including his own from his first term toward rallying the rest of the world to join the United States against China. And it threatens to hand Beijing more leverage in any eventual dialogue with the US administration. With Trump saying that countries are kissing my ass to negotiate trade deals on his terms or risk stiff import taxes, Beijing is reaching out to countries
China has repeatedly denied that tariff-related negotiations were ongoing, though on Friday it exempted some US goods from its retaliatory tariffs
Donald Trump's message for Chinese exporters was clear: move production to America, or risk being priced out of the market
Cumulative profits of China's industrial firms rose 0.8 per cent to 1.5 trillion yuan ($205.86 billion) in the first quarter from a year earlier
Trump in the interview said he has made 200 tariff deals and expected to finish negotiations in about three or four weeks
For years, Chinese e-commerce giants like Shein and Temu thrived on a trade loophole that let them ship cheap goods to the US without paying tariffs, which President Trump has now ended
The fear of deflection of Chinese exports to third markets is giving a major scare to the policymakers in developing nations
The Politburo, the ruling Communist Party's 24-member decision-making body led by President Xi Jinping, is expected to assess the economy's outlook at a gathering by the end of this month
The People's Bank of China will conduct 600 billion yuan ($82.3 billion) of one-year medium-term lending facility to maintain ample liquidity in the banking system
US-China trade war: The rollback would impact key industries such as medical equipment and industrial chemicals
The domestic currency opened 8 paise stronger at 85.19 after closing at 85.27 against the greenback on Thursday
That would be the third drop in global container shipping demand since London-based Drewry began collecting that data in 1979
Boeing took the rare step of publicly flagging the potential aircraft sale during an analyst call on Wednesday, saying there would be no shortage of buyers in a tight jet market
Domestic exporters should not use India as a destination for re-routing goods originating from high-tariff countries like China to the US, economic think tank GTRI said on Thursday. Instead of re-routing, Indian exporters should build genuine value addition, supply chain transparency, and adhere to US customs rules, the Global Trade Research Initiative (GTRI) said. Cautioning against "shortcuts", GTRI Founder Ajay Srivastava said Indian firms need to build on genuine value addition, supply chain transparency, and comply with US customs rules. For countries like India, the opportunity is real, but only if exporters play by the rules. He added that exporters often misunderstood US non-preferential rules of origin (RoO), which determine a product's true origin. If a product contains high Chinese content and fails to meet the substantial transformation test, it may still be classified as Chinese, regardless of where it was assembled and subjected to punitive tariffs. The US has imposed
Customs officials in South Korea have found that 97 percent of falsely labelled Chinese goods were destined for the United States
China has reiterated that Beijing is open to dialogue with the United States, however, negotiations must be equal, respectful, and reciprocal
PepsiCo now expects fiscal 2025 core earnings per share to decline 3 per cent, compared with its previous forecast of a low-single-digit increase