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Amid the ongoing trade deal between China and the U.S., Chinese trade officials expect the U.S. to defer tariff hike slated on Dec. 15.
According to sources privy to the on-going talks, the two sides are getting closer to secure an agreement of lowering the tariffs already in place. But instead of lifting the existing tariffs, the two countries vie for a rate reduction of tariffs already in effect.
However, President Donald Trump has not made any clear signal of deferring tariffs scheduled to take effect on Dec. 15 on $160 million worth of Chinese goods including toys and smartphones.
“It’s the president’s decision. I’ve got no indication that he’s going to do anything other than have a great deal or put the tariffs on,” said White House Trade Adviser Peter Navarro.
China is hoping for the U.S. to reduce the added 25% duty on around $250 billion of Chinese products and a 15% levy on another set of $110 billion of imports which were imposed during the nearing two years of the trade conflict.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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