BUSAN SUMMIT
US and China release reciprocal $30 billion product lists for tariff cuts after Trump-Xi meeting
The United States and China have released lists of products for tariff reductions to boost bilateral trade. The agreement includes around 1,619 U.S. goods and 77 categories of Chinese products. These changes may enhance market access for U.S. businesses and lower consumer prices in the U.S. Economic experts suggest the impact may be limited given the overall trade volumes. Analysts predict continued recovery in U.S.
There wasn’t much to Xi: A red carpet, a fragile truce and the search for US-China stability
During Xi Jinping's state visit to Washington, leaders announced modest tariff cuts and a new dialogue on AI safety. The ongoing US-Iran war significantly affects the strategic relationship between the two powers. A report highlights the US's dependence on Chinese rare earths for military needs amid supply challenges. Strategic stability efforts were explored but ultimately did not yield significant progress toward a lasting agreement.
China, US agree to $30 billion tariff cut, AI dialogue during Xi visit
Recently, China and the US have come together to hammer out a deal where both countries will cut tariffs by $30 billion. This agreement, part of an eight-point plan, also opens the door to discussions about artificial intelligence. This move is seen as a positive step toward improving trade relations between the two economic powerhouses.
Pandas then, pandas now: Trump and Xi are well past Nixon-era magic
Donald Trump and Xi Jinping recently met in Washington to symbolize cooperation in US-China relations. The summit featured the announcement of two pandas to Zo Atlanta as a gesture of friendship. They extended a trade truce rather than resolving major economic disputes or tariffs. Despite strategic rivalry, both countries aim to maintain open channels for cooperation.
Europe’s dangerous dependence puts it on Xi and Trump’s menu
Mark Carney's warning emphasizes the need for middle powers like the European Union to assert themselves. Europe faces significant challenges in technology dependence and military capabilities compared to the US and China. Supply-chain resilience and trade imbalances require urgent action for the EU to enhance its bargaining power. Collaboration with Canada and Ukraine presents opportunities for a stronger geopolitical stance.
Trump-Xi summit: Top Republican calls China's Xi 'brutal dictator', slams state dinner
Senator Roger Wicker has publicly criticized President Trump for the warm reception planned for Chinese President Xi Jinping. Wicker expressed that he would have advised against the lavish welcome and the state dinner scheduled for Xi. He urged Trump to address issues like China's military buildup and human rights concerns during their discussions. The summit between Trump and Xi is expected to focus on trade and artificial intelligence rivalry.
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US, China open final trade talks in New York to keep tariff truce alive ahead of Trump-Xi summit
US Treasury Secretary Scott Bessent and China's Vice Premier He Lifeng will meet Sunday in New York. They will discuss trade and other pressure points before a leader summit. Both sides aim to maintain stability in the current tariff truce. New US tariffs have been delayed until after this important meeting. This meeting seeks to prevent further escalation between the two nations.
Xi Jinping to bring large CEO delegation on US visit, sources say
President Xi Jinping plans a large business delegation for his upcoming Washington visit. This unusual move signals China's willingness to support investment and commercial ties. Chinese companies have faced increasing scrutiny and U.S. restrictions on their operations. Expectations for the summit remain modest with limited prospects for major breakthroughs. Both nations are discussing reciprocal tariff reductions and non-tariff barriers.
Trump to visit China on May 14–15 for summit with Xi Jinping
President Donald Trump and Chinese leader Xi Jinping are set to meet in Beijing on May 14-15, following a postponement. Xi will later visit Washington this year. The initial delay was due to Trump's focus on the war with Iran, which had strained US-China relations amid ongoing trade and Taiwan tensions.
US-China trade talks begin in Paris, making way for Trump-Xi summit
Representatives from Beijing and Washington are holding economic and trade talks in Paris. These discussions are expected to pave the way for US President Donald Trump's state visit to China. Trump is scheduled to meet Chinese leader Xi Jinping in Beijing in about two weeks. This visit marks the first for a US president since 2017.
US, China economic chiefs meet in Paris to clear path to Trump-Xi summit
U.S. and Chinese economic officials are meeting in Paris to address trade issues ahead of President Trump's Beijing visit. Discussions will focus on tariffs, rare earth minerals, tech exports, and agricultural purchases. Analysts suggest limited breakthrough potential due to time constraints and U.S. focus on the Iran conflict.
Trump says he will visit Beijing in April and host China's Xi for a state visit later next year
President Donald Trump will visit Beijing in April. Chinese leader Xi Jinping will visit the US later next year. The leaders spoke by phone about Ukraine, fentanyl, and soybeans. They also discussed Taiwan, with China asserting its claim. Relations between China and Japan have soured over Taiwan. Trade progress was also noted.
Trump's semiconductor tariff plan likely delayed, officials say
Trump administration is considering postponing the implementation of semiconductor tariffs to prevent escalating tensions with China and ensure steady access to essential rare earth minerals, despite the administration's promise to bolster domestic production.
Donald Trump, Xi Jinping take a step toward trade thaw
"It was an amazing meeting," Trump told reporters aboard Air Force One, calling the talks a "12 out of 10." He said tariffs on Chinese imports would be reduced to 47% from 57%, by halving to 10% the rate on goods linked to fentanyl precursor chemicals.
India's been 'very good' on that front: Trump repeats claim on Delhi reducing energy purchases from Moscow
President Donald Trump has praised India's efforts in reducing oil imports from Russia. He reiterated his assertion that Delhi will significantly decrease its energy purchases from Moscow. India's Ministry of External Affairs has stated that its import policies prioritize safeguarding consumer interests and ensuring stable energy prices. Discussions are ongoing to deepen energy cooperation with the US.
Trump and Xi Jinping reach a one-year rare earths supply deal; US cuts China tariffs by 10%
US President Trump and Chinese President Xi Jinping finalized a one-year trade agreement on critical rare earth minerals during their APEC summit meeting. The deal ensures continued supply for global industries, with the US also reducing tariffs on Chinese imports and fentanyl-related tariffs. This pact aims to stabilize economic relations and critical supply chains between the two nations.
Oil prices little changed as markets eye US-China trade talks
Oil prices are steady as traders await crucial U.S.-China trade talks. Hopes are high for a de-escalation of trade tensions that have impacted global growth. Investors are also watching for signals from the U.S. Federal Reserve's recent interest rate cut. A significant drop in U.S. crude inventories also supports the market.
Kim Jong Un's sister says North Korea denuclearisation is a 'daydream'
Kim Jong Un's powerful sister slammed US-led efforts to take away North Korea's nuclear weapons, saying the idea of denuclearising the country was a "daydream". In a statement published Wednesday by the official Korean Central News Agency (KNCA), the sister of ruler Kim Jong Un said that any discussion of convincing the North to give up its nuclear weapons is "nothing but a daydream that can never come true".
US aircraft carrier visits South Korea in show of force against North Korea
The USS Carl Vinson and its strike group arrived in South Korea to show a strong U.S-South Korean military alliance and counter North Korean threats. This move follows North Korea's recent cruise missile tests, underlining the tensions in the region as North Korea continues its focus on military capabilities and supporting Russia's war efforts.
Seoul, Tokyo, Washington start new joint military drills
South Korea, the United States, and Japan began major military exercises, "Freedom Edge," focusing on missile and air defenses, anti-submarine warfare, and cyber training. This follows a summit where the countries agreed to annual drills to counter North Korea's nuclear threats and China's regional influence. The exercises involve assets like the USS Theodore Roosevelt, JS Atago, and KF-16 fighter jets. North Korea, which views such drills as invasion rehearsals, responded angrily, especially after Seoul's announcement followed North Korea's claimed successful multi-warhead missile test.
US aircraft carrier arrives in South Korea for military drills, report says
The nuclear-powered U.S. aircraft carrier, Theodore Roosevelt, has arrived in South Korea's port city of Busan for joint military exercises with South Korea and Japan. This follows an agreement between the three nations, made at a Camp David summit in August 2023, to hold annual drills in response to China's actions in the South China Sea. Meanwhile, Russian President Vladimir Putin's recent visit to North Korea included signing a mutual defence pact with Kim Jong Un, described by Kim as forming an "alliance." These developments underscore the complex dynamics in the region.
U.S. nuclear missile submarine visits South Korea as allies launch planning talks
White House Indo-Pacific coordinator Kurt Campbell confirmed the visit, which had been expected after the visit was announced in a joint declaration during a summit between South Korean President Yoon Suk Yeol and U.S. President Joe Biden in Washington in April.
'South Korea focus on BLeisure to entice the corporate traveller once travel opens up from India’
The most popular business travel cities in South Korea such as Seoul, Busan, Incheon and Daejeon offers various BLeisure activities for a corporate travel that can fill your heart and soul.
Deity undertakes review meeting on WSIS
According to an official statement, India wants democratisation and broad-basing of the global affairs of telecommunications and internet governance.
Regulation to keep banks off bailout tax
As differences are likely to resurface over the proposed bank tax at the forthcoming G-20 Summit in Toronto, the Finance Ministry has said tighter regulation will enable the domestic banks escape any such levy, unlike most other countries in the bloc.
G-20 ministers back India's proposal on bank regulation: FM
India's proposal to regulate banks instead of imposing a tax to fund future bailouts was "by and large accepted" at the recently concluded G-20 meet in South Korea.
Global rebalancing policies need coordination-IMF
The International Monetary Fund believes global growth will suffer if the Group of 20 rich and developing economies fail to coordinate efforts to rebalance global demand.
Bank taxation not a solution: Pranab Mukherjee
India is not keen on any tax on banks to fund future bailouts, but is all for better regulation, finance minister Pranab Mukherjee told ET in an interview on the sidelines of a meeting of finance ministers from the G20 countries.
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