China, Trump and tariff
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China wants to bring its trade ties with the U.S. back to a stable footing, its commerce minister said, adding that recent talks in Europe showed there was no need for a tariff war while urging the U.
M said it expects a gross tariff impact of 20 cents a share for the full year, down from its prior projection of 60 cents a share, thanks in part to easing trade tensions between the U.S. and China. CEO Bill Brown said most of the materials maker’s tariff costs are related to China,
Trump has rolled back many of his steepest tariffs over recent months, including a sky-high levy on China, the top source of U.S. imports. In recent days, however, Trump announced plans to slap tariffs as high as 50% on dozens of countries, including 25% tariffs on top U.S. trade partners such as Japan and South Korea.
M raised its full-year profit forecast and projected a smaller tariff-related hit to its 2025 earnings on Friday, weeks after the U.S. and China arrived at a trade truce.
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China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the United States to cut China out of supply chains.
China has reported that its economy slowed in the last quarter as President Donald Trump's trade war escalated, but it still expanded at a robust 5.2% pace.
On his third trip to China in a year, Nvidia CEO Jensen Huang – head of the world’s most valuable company – was on a full-blown charm offensive. As a guest of honour at the China International Supply Chain Expo,