The US and China struck a partial trade deal on Friday, reaching a truce in their months-long trade war that’s rattled global markets and put President Donald Trump under pressure at home. Trump announced Friday that the two sides agreed on a “substantial phase one” of a trade deal after meeting with Chinese negotiators at the White House.
CNBC’s Jim Cramer said Tuesday that the Trump administration’s move to blacklist some Chinese tech companies will hinder its chances in negotiating a trade deal later this week. “They’re torpedoing the talks,” Cramer said on “Squawk Box.” “Anybody that is hopeful, their hopes are dashed.”
Singapore has overtaken the U.S. to become the most competitive nation in the world, according to the World Economic Forum (WEF). In its 2019 Global Competitiveness Report, the WEF measured the strength of 103 key indicators, such as inflation, digital skills and trade tariffs, across 141 countries.
The Department of Commerce added 28 new companies and agencies to its running “blacklist” of Chinese firms banned from doing business in the United States, with a notable focus on companies that specialize in artificial intelligence, machine learning and digital surveillance.
The prospects for Congress ratifying a new trade deal with Mexico and Canada improved last month when House Speaker Nancy Pelosi said, "we're moving ahead" and expressed hope for "a continuing path to yes." No trade agreement is ever perfect. But the United States-Mexico-Canada Agreement (USMCA), the trade deal that could replace the North American Free Trade Agreement (NAFTA), is an improvement over NAFTA in several respects, especially when it comes to workers' rights and the environment.
Apple’s insanely expensive new desktop computer will be made in the United States -- not China, the company announced Monday. The $6,000 Mac Pro will be built at Apple’s Austin, Texas, plant following US trade regulators approving 10 requests for tariff exemptions filed by Apple for computer parts.
There is a Chinese proverb that translates as: “It is always better to endure short-term pain than to allow the disease to remain untreated.” This aphorism offers great wisdom in the U.S. trade war with China.
The trend of reshoring - or companies moving production back home -- is most prevalent in the capital machinery and electronics sectors in Japan and Taiwan, where companies are moving home to avoid higher U.S. tariffs on imports from China, a Nomura analysis of 56 companies found.
The United States and Poland believe suppliers of 5G network equipment should be rigorously evaluated for foreign government control, a joint declaration signed on Monday said, as Washington pressures allies to exclude China from 5G networks.
Hours after China announced retaliatory tariffs on U.S. goods on Friday, President Donald Trump ordered U.S. companies to “start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.” The stakes are high: U.S. companies invested a total of $256 billion in China between 1990 and 2017, compared with $140 billion Chinese companies have invested in the United States, according to estimates by the Rhodium Group research institute.