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The Ministry of Finance of China announced that starting from January 1 for a period of 90 days the duties on cars imported from the USA will be reduced from 40% to 15%. This move will ease trade tensions between Beijing and Washington. According to forecasts, by the end of this year, car sales in China are expected to decline for the first time in 28 years, due to the trade war with the United States and a slowdown in the growth rate of the Chinese economy. The decision of the Chinese authorities to reduce duties will have a positive impact on American manufacturers General Motors and Tesla, and European BMW and Daimler, supplying their cars to China.
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 ...
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, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
Oil prices rose on Friday as the dollar dropped to a near two-year low, but demand worries amid rising coronavirus cases and the worsening U.S.-China tensions capped gains. Brent crude gained 0.4%, or 15 cents, at $43.46 per barrel. U.S. West ...
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