U.S. President Donald Trump on Tuesday called the trade war with China “a little squabble” and insisted talks between the world’s two largest economies had not collapsed, as investors remained on guard for a further escalation of tit-for-tat tariffs.
U.S. Treasury Secretary Steven Mnuchin will plan for another trade meeting in China at some point soon, a Treasury spokesman said on Tuesday, adding to President Donald Trump’s earlier statements that U.S. dialogue with Beijing was continuing.
U.S. lawmakers on Tuesday moved closer to developing a national electric vehicle supply chain policy, with senators voicing bipartisan support for legislation designed to parry China’s dominance in metals production and battery manufacturing.
Nissan Motor Co Ltd said on Tuesday it had hit “rock bottom” with a 45% drop in annual operating profit. The automaker’s troubles in the United States, including a failure to deliver on a slew of promises to dealers, are a major reason why.
Renault is quietly pushing for a change of Nissan leadership as a prelude to merger talks, sources at both companies said, after the Japanese carmaker warned of a further earnings slide in the wake of the Carlos Ghosn scandal.
Senate Majority Leader Mitch McConnell said on Tuesday that “nobody wins a trade war” but he hoped President Donald Trump’s tactics in negotiations China would put the United States in a better position to move trade talks forward with Beijing.
UniCredit has stepped up preparations for a potential bid for Germany’s Commerzbank by drafting in investment bankers including a former top German official, three people familiar with the matter said.
Technology stocks led the S&P 500 and the Nasdaq higher on Tuesday, with U.S. stocks reclaiming ground lost to Monday’s steep sell-off as investors took heart from a tonal shift in ongoing U.S. trade negotiations with China.
Oil prices rose nearly 2% on Tuesday after top exporter Saudi Arabia said explosive-laden drones launched by a Yemeni-armed movement aligned to Iran had attacked facilities belonging to state oil company Aramco.
The U.S. Federal Communications Commission plans to vote in June on launching a new review of a key band of spectrum that has been reserved for automakers that could boost Wi-Fi use, a person briefed on the matter said on Tuesday.
U.S. and European stocks regained ground on Tuesday after President Donald Trump downplayed the U.S.-China trade war as “a little squabble” a day after a spike in tensions between the world’s two largest economies rattled financial markets.
Walt Disney Co said it will take full control of the Hulu service in a deal with Comcast Corp, as it vies for a bigger piece of the global video streaming market dominated by companies such as Netflix Inc.
U.S. President Donald Trump insisted on Tuesday that trade talks with China have not collapsed and called the widening U.S.-China tariff war “a little squabble,” even as his administration readies 25% duties on all remaining Chinese imports.
OPEC said on Tuesday that world demand for its oil would be higher than expected this year as supply growth from rivals including U.S. shale producers slows, pointing to a tighter market if the exporter group refrains from raising output.
U.S. stock indexes rebounded on Tuesday from one of their worst selloffs in 2019, as investors saw value in technology stocks that took a hit on Monday from heightened trade tensions between the United States and China.
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