The US trade deficit swelled 5.9% to $US67.1 billion in August, the Commerce Department said Tuesday, reaching its largest level since 2006. Economists surveyed by Bloomberg expected the trade gap to widen to $US66.2 billion. Shipments of consumer goods led the increase in imports and hit a record high as […]

US president Donald Trump’s COVID-19 diagnosis will boost China’s international reputation, the CEO of think-tank Atlantic Council Fred Kempe said in a CNBC opinion piece over the weekend. Trump and first Lady Melania Trump tested positive for coronavirus on Friday. Kempe said: “Chinese officials will embrace this period as additional, […]

The US and China could be headed for a “new cold war” that lasts a generation and would force countries to choose sides, CNBC reported a China analyst of Fitch Solutions as saying. Despite countries in South Asia intending to maintain friendly relations, they would be forced to side with […]

TikTok’s owner ByteDance is reportedly seeking a valuation of $US60 billion for its US operations. ByteDance reached an agreement with Oracle and Walmart this weekend, under which both companies will take a 12.5% and 7.5% share respectively in the Chinese firm. Both companies will pay a combined $US12 billion if […]

President Trump announced a $US13 billion bailout for farmers as he sought to solidify rural support less than two months away from election day. “I’m proud to announce that I’m doing even more to support Wisconsin farmers,” Trump said at a rally. Polls show Democratic presidential nominee Joe Biden edging […]

Trump’s trade war with China is officially a joke. The World Trade Organisation just ruled that the Trump administration’s trade war with China violates the body’s trade rules – rules the US helped to design. That alone isn’t enough to sink the trade war into full absurdity. But add the […]

The World Trade Organisation ruled on Tuesday that the US’s tariffs on Chinese goods violated international trade rules, according to Bloomberg. Three panelists found that the Trump administration’s tariffs on more than $US400 billion worth of Chinese exports unfairly targeted the country and skirted the WTO’s dispute-settlement body. The decision […]

Summary List Placement The US trade deficit in July swelled to its greatest gap since the 2008 financial crisis, the Commerce department reported Thursday. The US trade deficit, or gap between imports and exports, widened nearly 19% to $US63.6 billion in July from $US53.5 billion in June, according to the […]

Global stocks climbed on Tuesday after the US and China held “constructive” talks about their Phase One trade deal. Japan’s Nikkei rose 1.4%, while in Europe, the broad Euro Stoxx 50 climbed 0.7% in morning trade. “Both sides had a constructive dialogue regarding stepping up macroeconomic policies coordination and the […]

Chinese citiznes moved $US50 billion worth of cryptocurrency out of the country in the past 12 months amid plummeting US-China relations, a report said. A report by blockchain firm Chainalysis said this means Chinese people likely breached capital limits, as the government only allows citizens to buy a maximum of […]

China is in the midst of its own day-trading boom, with more than 2.4 million new investors flooding to the country’s stock market in July, the biggest increase since the 2015 bubble. Citing data from China Securities Depository and Clearing, Bloomberg reported Thursday that the number of new brokerage accounts […]

President Trump backed an Oracle acquisition of Chinese-owned video app TikTok, which has until November 12 to sell off its US business or face a ban. Trump told reporters on Tuesday that Oracle was “a great company” and that it “could handle it.” He added that Oracle had until mid-September […]

US stocks edged higher on Tuesday as investors looked for signs of progress on government stimulus and US-China trade talks. Democrats and Republicans remain deadlocked in negotiations on the next stimulus bill, while t he Trump administration on Monday imposed new restrictions on Huawei. Housing starts jumped 22.6% in July, […]

US stocks closed mixed on Friday after disappointing retail-sales data indicated that the economic rebound slowed in July. Investors continue to expect further government stimulus, even though talks over the next package are at a standstill. The market will also be watching for news on trade talks, as senior US […]

Scott Kennedy of the Centre for Strategic and International Studies, told CNBC’s Squawk Box that China may never catch up with its commitments under the Phase One trade deal with the United States. He said: “If it’s really based on the genuine commitments that they inked in January, they’re far […]

President Donald Trump is threatening to ban popular viral-video app TikTok in the US over claims that it poses a national-security risk through its Chinese parent company ByteDance. ByteDance is entertaining TikTok acquisition talks with US tech companies to assuage concerns from the president. Microsoft is the favourite, and a […]

The confused messages from the Trump administration about the fate of ByteDance-owned TikTok may stem from a disagreement between two senior White House advisers. According to The Washington Post, trade adviser Peter Navarro pushed for an outright ban of TikTok, while Treasury Secretary Steve Mnuchin wanted a sale. The pair […]