<gu-island name="KeyEventsCarousel" priority="feature" deferuntil="visible" props="{"keyEvents":[{"id":"6814916e8f08ca8905803afe","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" Beijing is “evaluating” an offer from Washington to hold talks over US president Donald Trump’s 145% tariffs, China’s commerce ministry said on Friday, although it warned the United States not to engage in “extortion and coercion.” ","elementId":"1fbe82d7-6e3d-49bc-8eb8-9aa091ed7855"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" Washington and Beijing have been locked in a cat-and-mouse game over tariffs, with both sides unwilling to be seen to back down in a trade war that has roiled global markets and upended supply chains, Reuters reported. ","elementId":"8068f6d5-1a20-49b4-afab-63aec0225310"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" The commerce ministry said the United States has approached China…
Tag: Business
Apple to report quarterly earnings amid Trump trade policy chaos
Investors have their eyes on Apple as it prepares to report financial results of the second quarter of the fiscal year on Thursday. The tech giant has been working to calm nervous analysts after Donald Trump levied sweeping tariffs on countries around the world that are likely to complicate supply chains for consumer electronics. Since the beginning of the year, Apple’s stock has slumped 16%. In anticipation of its earnings report, the company’s stock notched up slightly on Wednesday. Analysts are predicting a positive quarter for Apple with an average…
US has approached China seeking talks on Trump tariffs, says state social media
The US has approached China seeking talks over Donald Trump’s 145% tariffs, a social media account affiliated with Chinese state media has said, potentially signalling Beijing’s openness to negotiations. “The US has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue,” Yuyuan Tantian reported in a post published on its official Weibo social media account, citing anonymous sources. US officials, including the Treasury secretary, Scott Bessent, and White House economic adviser Kevin Hassett, also expressed hope for progress in easing trade tensions. Hassett…
Chinese e-commerce exports plummet in face of tariffs, despite rise in sales to EU
Exports to the US from Chinese online shops such as Temu and Shein have plunged in the face of Donald Trump’s trade war, as shipping from China to the EU has increased. Official Chinese data showed its total e-commerce shipping dropped 65% by volume in the first three months of the year, but rose 28% in Europe. The sharp fall comes amid reports that the fast-fashion discount platform Shein is considering a restructuring in the US to circumnavigate tariffs. According to the Financial Times, one workaround would be for Shein…
China manufacturing activity plummets amid Trump tariff war
China’s factory activity slowed in April, with Beijing blaming “sharp changes” in the global economy as it fights a mounting trade war with the United States. Punishing US tariffs that reached 145% on many Chinese products came into force in April, and Beijing responded with 125% duties on imports from the US. Chinese exports soared more than 12% last month as businesses rushed to get ahead of the punishing tariffs. The impact of the measures began to show in official data on Wednesday, with the Purchasing Managers’ Index (PMI) –…
No recent Xi-Trump call, says China despite US president’s claims – US politics live
<gu-island name="KeyEventsCarousel" priority="feature" deferuntil="visible" props="{"keyEvents":[{"id":"680f4a848f0848f8750655f2","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" President Donald Trump plans to sign an executive order on Monday directing the attorney general and the secretary of Homeland Security to identify within a month the cities and states that are not complying with federal immigration laws, the Wall Street Journal reported on Monday. ","elementId":"f04b8b7a-8c00-45f8-ac69-6d131a8fcd7f"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" Last week, a federal judge blocked Trump’s administration from withholding federal funding from more than a dozen so-called sanctuary jurisdictions that have declined to cooperate with Trump’s hardline immigration crackdown. ","elementId":"c671dcab-2006-4f0a-a7f5-401fef012542"}],"attributes":{"pinned":false,"keyEvent":true,"summary":false},"blockCreatedOn":1745834607000,"blockCreatedOnDisplay":"06.03 EDT","blockLastUpdated":1745835317000,"blockLastUpdatedDisplay":"06.15 EDT","blockFirstPublished":1745834948000,"blockFirstPublishedDisplay":"06.09 EDT","blockFirstPublishedDisplayNoTimezone":"06.09","title":"Trump to step up crackdown on ‘sanctuary cities’ –…
UK banks brace for first-quarter reports after Trump tariff turmoil
UK banks’ earnings reports will be studied this week for signs of turmoil linked to Donald Trump’s tariff drama, with uncertainty over global growth likely to weigh on lenders with heavy exposure to China, including HSBC. First-quarter profits only reflect the January-to-March period that preceded the US president’s “liberation day” tariff announcements on 2 April. But investors will be concerned about any hints of caution around earnings forecasts, as well as an uptick in money put aside for defaults by tariff-hit borrowers. The issue is expected to divide UK lenders…
Apple ‘aims to source all US iPhones from India’, reducing reliance on China
Apple is reportedly planning to switch assembly of all iPhones for the US market to India as the company seeks to reduce its reliance on a Chinese manufacturing base amid Donald Trump’s trade war. The $3tn (£2.3tn) technology company aims to make the shift as soon as next year, the Financial Times reported. Apple has been swept up in Trump’s aggressive tariff policies, with the iPhone maker at one point among the biggest stock market casualties because of the prospect of its Chinese-made products being hit with a hefty import…
Xi announces plan for Chinese economy to counter impact of US trade war
Xi Jinping has announced a plan to counter China’s continuing economic problems and the impact of the US trade war, as reports swirl that it could drop tariffs on some US products, including semiconductors. Friday’s meeting of the politburo was convened to discuss China’s economic situation, which since the pandemic has faced difficulties fuelled by a housing sector crisis, youth unemployment, and Donald Trump’s tariffs on all Chinese exports. A readout of the meeting published by the official state media outlet, Xinhua, said China’s economy had showed a “positive trend”…
US and China holding talks on trade war, Trump says after Beijing rebuttal
The US and China held talks on Thursday to help resolve the trade war between the world’s two largest economies, Donald Trump said. “We may reveal it later, but they had meetings this morning, and we’ve been meeting with China,” the US president told reporters at the White House. China had earlier hit back against Trump’s previous claim to be close to a trade deal with Beijing. Trump had buoyed markets by suggesting on Wednesday that the US was “actively” negotiating with Beijing, and pointing to hopes of a deal…