China and the United States will face a long road before they can reach a deal to end their bitter trade war, with more fights ahead likely, Chinese state media said after the two countries’ presidents held ice-breaking talks in Japan.
The Bank of Japan is expected to maintain its massive stimulus program on Thursday and signal its readiness to ramp up monetary support if growing risks such as the escalating US-China trade war threaten the economy’s modest expansion.
South Korea’s exposure to a stressed global manufacturing supply chain has knocked its currency — Asia’s most risk sensitive — to over two-year lows as investors use it as a proxy to bet on the economic costs of a protracted US-China trade war.
US President Donald Trump on Tuesday defended the use of tariffs as part of his trade strategy while China vowed a tough response if the United States insists on escalating trade tensions amid ongoing negotiations.
Samsung Electronics Co. Ltd. may have a chance to strengthen its position in the smartphone market due to the hurt caused to Huawei Technologies Co. Ltd. in the wake of US-China trade tensions, according to Fitch Ratings.
Japanese companies that operate in China to supply parts and materials to exporters there are affected more by US-China trade friction than other Japanese firms working in the country, according to the Japan External Trade Organization (JETRO).
Tesla Inc (TSLA.O) is cutting the price of its Model X and Model S cars in China, the U.S. firm said on Thursday, in a shift in strategy that will see it take more of a hit from tariffs linked to a biting trade war between China and the United States.
The world economy remains tepid and unstable a decade after the 2008 financial crisis, while growing trade conflicts are symptoms of deeper economic malaise, according to a new United Nations publication.