The European Commission criticized US plans to impose a 10% tariff on EU goods, citing the EU's alleged failure to ban imports made with forced labor. The EU called the tariffs unjustified and highlighted its own stringent regulations.
Beijing announced that Washington has committed to not exceeding current tariff levels on Chinese goods, a commitment made during trade talks in South Korea before President Trump's visit. This signals a move towards "managed competition" between the two largest economies.
China to buy 200 Boeing aircraft, seeks trade truce extension with US, following high-level summit between leaders
US President Donald Trump's visit to China strengthened the fragile trade truce and stabilized bilateral relations, with plans for another meeting in fall. Agreements include China's pledge to buy US oil, help with Iran negotiations, and purchase 200 Boeing jets, while the US approved Nvidia's chip sales to Chinese companies.
The US-China summit may ease trade tensions, boosting Chinese equities, particularly in lagging tech shares, with potential relief from US chip export restrictions.
President Trump meets with China's President Xi Jinping in Beijing with a trade truce and the Iran war on the agenda.
Nine years after his lavish first visit to China as US president, Donald Trump is scheduled to head back to Beijing on May 14-15. Beijing has not confirmed the date yet. With tensions over tariffs, Taiwan and tech rivalry still simmering, the summit will test whether the world’s two biggest powers can stabilise their fractious relationship. What to expect Pragmatic deals over grand resets Don’t look for a historic breakthrough. The focus is expected to be on extending the trade truce, locking in...
