Brent crude futures gained $1.28, or 1.96 per cent, to $66.62 a barrel by 1649 GMT. US West Texas Intermediate crude climbed $1.34, or 2.11 per cent, to $64.71
After what he described as a "very good" 90-minute call with Xi Jinping, Trump says US-China trade talks will resume soon with rare earth issues resolved
Swift production halt: Global auto supply chains are feeling the heat as China tightens rare earth mineral exports, disrupting production at Suzuki, Ford, BMW, and others
EU presses China to ease tightened rare earth export rules, announced in response to Trump tariffs, as automakers face potential supply crunch
Chinese authorities are seeking to boost fiscal income and narrow a record budget deficit as Beijing has ramped up stimulus to counter US tariffs
Middle-power countries such as India now recognize that even US friendship may not protect them from tariffs, making them less willing to ally themselves fully with the United States
Donald Trump ramps up US-China tensions, alleging Beijing violated a May minerals agreement, as trade talks with Xi Jinping stall, fresh visa curbs stir diplomatic unease
Beijing enforces tighter export controls and whole-chain oversight of critical minerals as US-China trade and technology disputes intensify
Sensex Today | Stock Market Highlights on Tuesday, June 3, 2025: The Nifty Private Bank index dropped over 1 per cent, followed by the Nifty PSU Bank index (down 0.59 per cent)
The anticipated conversation follows months of faltering trade negotiations and mutual tariff cuts, raising hopes of a breakthrough in the prolonged US-China trade war
US-China truce in jeopardy as Washington and Beijing trade accusations over Geneva trade agreement violations
Why stock markets fell today: Indian equity benchmark fell, tracking Asian markets as trade tensions flared up over the weekend with fresh steel and aluminium tariffs by the US
While the manufacturing index indicated sector growth, the new orders index remained below 50, signalling ongoing weakness despite some improvement
US President Donald Trump on Friday said he will no longer be Mr NICE GUY with China on trade, declaring in a social media post that the country had broken an agreement with the United States. Hours later, Trump said in the Oval Office that he will speak with Chinese President Xi Jinping and "hopefully we'll work that out", while still insisting China violated the agreement. What deal Trump was referring to was not clear. But the rhetoric was a sharp break from recent optimism when he lowered his 145 per cent tariffs on Chinese goods to 30 per cent for 90 days to allow for talks. China also reduced its taxes on US goods from 125 per cent to 10 per cent. The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US, Trump posted. So much for being Mr NICE GUY! Trump said the tariff reduction quickly stabilised the Chinese economy, though the decrease also brought a degree of relief to US companies that said the previous rates essentially ..
US President claims China "totally violated" agreement as trade tensions resurface despite 90-day tariff truce
The remarks from Scott Bessent come two weeks after the two nations agreed to a 90-day tariff pause along with mutual reductions
The remarks by the Chinese spokesperson came hours after Marco Rubio announced that the Trump administration would work to aggressively revoke visas of Chinese students
The Trump administration this year banned Nvidia from selling its H20 chips to Chinese customers, the third round of such restrictions since 2022
Just two-and-a-half weeks after agreeing to suspend tariffs, both countries are using export controls to disrupt each other's key industries
Economists sharply disputed how much pain Trump's tariffs caused, but the message underscored the centrality of jobs to China's export-reliant economy