U.S. stock futures turned negative and Asian shares pared gains on Friday as global investors waited nervously to see if Washington would suspend its plan to raise tariffs on Chinese imports at midday.
U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin have agreed with Chinese Vice Premier Liu He to continue trade talks on Friday morning, a White House spokesman said on Thursday.
Asian shares inched up from two-month lows on Friday, hours ahead of the Trump administration’s plan to raise tariffs on Chinese imports, as investors waited to see if negotiators can salvage a deal and avoid a sharp escalation in the trade war.
U.S.-China trade talks in Washington will continue on Friday morning U.S. time, Hu Xijin, the editor-in-chief of Chinese state-run newspaper the Global Times, tweeted on Friday.
Japanese Finance Minister Taro Aso on Friday expressed hope that Washington and Beijing will resolve their trade dispute in a constructive manner through dialogue.
Asian shares inched up from two-month lows on Friday just hours ahead of the Trump administration’s plan to raise tariffs on Chinese imports as investors looked to whether negotiators from the two countries can clinch a deal to avert the hike.
Plans by Washington to hike tariffs on $200 billion of Chinese goods could cut China’s growth by 0.3 percentage points but the strengthening economy has become more resilient to external shocks, a Chinese central bank adviser said on Friday.
Top U.S. and Chinese trade negotiators concluded the first of two days of talks on Thursday to rescue a trade deal that is close to collapsing as Washington prepares to go ahead with plans to hike tariffs on hundreds of billions of dollars of goods imported from China.
It may take three or four months for American shoppers to feel the pinch from President Donald Trump’s latest round of tariff increases, but retailers will have little choice but to raise prices on a wide range of goods to cover the rising cost of imports before too long, according to economists and industry consultants.
Billionaire entrepreneur Jeff Bezos unveiled on Thursday a mockup of a lunar lander being built by his Blue Origin rocket company and touted his moon goals in a strategy aimed at capitalizing on the Trump administration’s renewed push to establish a lunar outpost in just five years.
U.S. President Donald Trump said on Thursday he was taking steps to authorize new tariffs on $325 billion in Chinese imports as officials began last-ditch talks to avert an escalation of a trade war that threatens to derail the global economy.
China’s Vice Premier Liu He said he hopes to engage in a rational and candid exchange with the U.S. after arriving in Washington for a new round of trade talks, and raising tariffs is not the solution, China’s official Xinhua news agency reported.
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U.S. Customs and Border Protection said on Thursday it would begin collecting a 25 percent tariff on a $200 billion category of Chinese imports at 12:01 a.m. EDT (0401 GMT) on Friday, the final step toward activation of President Donald Trump’s planned tariff increase.
Uber Technologies Inc priced its initial public offering on Thursday at the low end of its targeted range to value the company at $82.4 billion, hoping the conservative approach would let it avoid the market chaos suffered by rival Lyft.
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