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Trump threatens to renew trade attack on China
U.S. President Donald Trump has threatened to renew trade attack on China after he called the nation “cheaters”.
“No one has manipulated or taken advantage of the United States more since China’s entrance into the World Trade Organization.” Trump said on Tuesday night at the Economic Club of New York.
“I will not say the word ‘cheated,’ but nobody’s cheated better than China, I will say that,” the president said, threatening that the U.S. would “substantially” increase tariffs on China if no deal is reached.
“If we don’t make a deal, we’re going to substantially raise those tariffs,” he said. “They’re going to be raised very substantially. And that’s going to be true for other countries that mistreat us too.”
Trump and Chinese President Xi Jinping were expected to sign “phase one” of a trade deal this month at an international conference in Chile which was cancelled due to the social unrest in the country.
While a new site for the signing has yet to be announced to the public, speculations that locations in Asia or Europe are being considered as the White House ruled out areas in the U.S.
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 ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
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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