GLOBAL FX-
President Donald Trump said on Wednesday that China “broke the deal” in trade talks with Washington and would face stiff tariffs if no agreement is reached.“You see the tariffs we’re doing?” Trump told a rally with supporters in Florida. “Because they broke the deal. ... They broke the deal. So they’re flying in. The vice premier tomorrow is flying in, but they broke the deal. They can’t do that. So they’ll be paying. If we don’t make the deal, nothing wrong with taking in more than $100 billion a year.Trump has threatened to impose additional tariffs on Chinese goods beginning on Friday after China backtracked on substantial commitments it made during ongoing trade talks, top U.S. trade officials said this week.
U.S. President Donald Trump on Wednesday imposed new sanctions on Iran, targeting revenue from its exports of industrial metals, the latest salvo in tensions between Washington and Tehran over a 2015 international accord curbing the Islamic Republic’s nuclear program.Iran had announced hours earlier that it was relaxing some restrictions on its nuclear program, steps that stopped short of violating the deal with world powers for now, but threatening more action if countries do not shield it from U.S. sanctions.An executive order issued by Trump covers Iran’s iron, steel, aluminium, and copper sectors, the government’s largest non-petroleum-related sources of export revenue and 10 percent of its export economy, a White House statement said.
U.S. President Donald Trump said on Wednesday he would be happy to keep tariffs on Chinese imports as the two countries prepare for new talks to try to rescue a faltering trade deal amid a sharp increase in U.S. duties.Beijing announced it would retaliate if tariffs rise.“The Chinese side deeply regrets that if the U.S. tariff measures are implemented, China will have to take necessary countermeasures,” China’s Commerce Ministry said on its website, without elaborating.
China is fully prepared to defend its interests in its trade war with the United States, but hopes the United States can resolve problems through dialogue instead of unilateral steps, the Chinese commerce ministry said on Thursday.
China’s factory-gate inflation in April quickened at its fastest pace in four months, buoyed by higher commodity prices and a sign demand may be starting to perk up as Beijing rolls out more stimulus.
Asian shares fell to eight-week lows on Thursday as investors waited to see whether Chinese and U.S. trade negotiators can salvage a deal to stave off the threat of fresh U.S. tariff increases, which would damage global economic growth.Chinese Vice Premier Liu He is set for talks in Washington on Thursday and Friday with U.S. officials who have complained that Beijing has backtracked on earlier commitments.
The PM has rejected calls to quit over her handling of Brexit, saying it is "not an issue about me".Theresa May was replying to Tory Brexiteer Andrea Jenkyns, who said she had "failed to deliver on her promises" and had lost public trust.Calls have been growing for the prime minister to name an exit date.The PM's spokesman said she had already promised to leave after delivering the first stage of Brexit and was sticking to that "generous and bold offer".Mrs May has agreed to address a meeting of the 1922 Committee - an elected body of Tory MPs which represents backbenchers and oversees leadership contests - next week.
Gold prices were little changed on Thursday ahead of Sino-U.S. trade negotiations, while demand for government bonds, Japanese yen and a key technical resistance limited gains for the safe-haven metal.Spot gold edged up 0.2 percent to $1,283.41 per ounce at 0741 GMT. U.S. gold futures were also 0.2 percent higher at $1,284.10.
Oil prices dropped on Thursday amid concerns over the escalating trade battle between the United States and China, despite a surprise fall in U.S. crude stockpiles.Brent crude oil futures were at $69.91 a barrel by 0600 GMT, down 46 cents, or 0.7 percent, from their previous settlement. They earlier fell more than 1 percent.U.S. West Texas Intermediate (WTI) crude futures were at $61.76 per barrel, down 36 cents, or 0.6 percent, having also declined more than 1 percent earlier.