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China-US trade war

US, China declare 90-day halt to new tariffs, White House says

BUENOS AIRES: China and the United States have agreed to halt additional tariffs as both nations engage in new trade negotiations with the goal of reaching an agreement within 90 days, the White House said on Saturday after President Donald Trump and Chinese President Xi Jinping held high-stakes talks in Argentina. Trump agreed not to boost tariffs on $200 billion of Chinese goods to 25 per cent on January 1 as previously announced, while Beijing agreed to buy an unspecified but “very substantial” amount of agricultural,…

Wall Street hammered by Apple, trade concerns

The Dow Jones Industrial Average shed more than 400 points on Monday, as a slump in Apple shares battered the tech sector, with conflicting signals over the state of play between the United States and China on their trade dispute kept investors on edge. Shares of Apple Inc fell 3.8 percent after the Wall Street Journal reported the company had cut production orders in recent weeks for all three iPhone models launched in September. The iPhone maker’s stock, which has played a major role in powering a decade-long bull run…

Easing tensions, US, China to hold top-level security talks

WASHINGTON: The United States and China will hold top-level security talks on Friday, the State Department announced, in a sign of easing tensions after months of escalation over trade and regional disputes. US Secretary of State Mike Pompeo and Defense Secretary Jim Mattis will host their Chinese counterparts in Washington for the second US-China Diplomatic and Security Dialogue, following a meeting in June 2017. The announcement of talks with senior Communist Party foreign affairs official Yang Jiechi and General Wei…

Trump says ‘I think we’ll make a deal with China’ on trade

WASHINGTON: U.S. President Donald Trump said on Friday that he will likely make a deal with China on trade, adding that a lot of progress had been made to resolve the two countries’ differences but warning that he still may impose more tariffs on Chinese goods. “China very much wants to make a deal,” Trump told reporters in Washington just hours after his top economic adviser expressed caution about talk of a possible U.S.-China trade agreement. “We’ve had a very good discussions with China, we’re getting much…

IMF cuts global growth forecast to 3.7% for 2018, 2019 as risks rise

NEW YORK: An upswing in economic risks due to rising trade tensions and debt levels has prompted the International Monetary Fund to cut its forecast for world growth for this year and next. With trade growth set to slow sharply amid a trade war between the United States and China, the IMF cut its outlook for global GDP by two-tenths to 3.7 percent for 2018 and 2019, according to the quarterly World Economic Outlook Report issued Monday. The revised estimates includes a worsening outlook for developing economies this…