China has warned countries against making trade deals with the U.S. that could hurt Beijing’s interests, the Wall Street Journal reported. “China firmly opposes any party reaching a deal at the expense of China’s interests,” the Ministry of Commerce said Monday, adding that it would respond “resolutely” with reciprocal countermeasures should such a situation arise. The ministry also said China is willing to strengthen solidarity and coordination with all parties, work together to respond to challenges, and oppose unilateral bullying.
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China's state-backed funds are pulling back from investing in the funds of U.S.-headquartered private capital firms amid an escalating trade war between the world's two biggest economies, the Financial Times reported. Some of the Chinese funds are also seeking to be excluded from investments in U.S. companies made by private equity firms based elsewhere, the report, which cited seven private equity executives with knowledge of the matter, said.
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U.S. Vice President JD Vance is holding talks with Indian Prime Minister Narendra Modi in New Delhi on Monday as the South Asian nation looks to strike an early trade deal with Washington that spares it from President Donald Trump’s additional tariff hikes, Bloomberg News reported. Vance arrived at Modi’s private residence in the capital just before 7 p.m. local time for bilateral talks with the prime minister, followed by another discussion that will include members of their respective delegations. Modi is then expected to host Vance, his wife Usha and their three children for dinner.
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The effects of President Trump’s new tariffs are starting to be felt across the world, preliminary South Korean trade data suggest, as Seoul prepares to begin negotiations with Washington, D.C., the Wall Street Journal reported. Exports from Asia’s fourth-largest economy fell 5.2% from a year earlier in the first 20 days of April, according to data from South Korea’s customs office released Monday ahead of full monthly trade figures due next week. Imports plunged 12%, leading to a trade deficit, the preliminary numbers showed.
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A Boeing jet earmarked for China was returning to the U.S. on Friday, flight tracking data showed, as the planemaker’s flagship delivery plant outside Shanghai was drawn into a deepening tariff war between Beijing and Washington, CNBC reported. The return of one of several jets waiting for final work and handover to a Chinese carrier at the completion center in Zhoushan is the latest sign of disruption to deliveries from a breakdown in the industry’s decades-old duty-free status. In a sign that Boeing was preparing for normal business just weeks before U.S.
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Fisker filed for bankruptcy, leaving Ocean owners high and dry. However, Fisker dealers were in an even worse situation. In England, a Fisker dealer was forced to abandon the Ocean SUVs on the side of a road, Autospies.com reported. Several days later, an auction house collected them and will auction them off alongside other abandoned Fisker Oceans. However, it's unclear who'd want them. Fisker filed for bankruptcy in the U.S. last June, leaving owners holding the bag. While creditors and founders will see some of their money back, owners will not have the same luck.
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The new U.S. ambassador to Japan arrived in Tokyo on Friday and said he is optimistic that his country and its key Asian ally will reach a deal in their ongoing tariff negotiations, the Associated Press reported. George Glass, a prominent businessperson known for his background in finance, investment banking and technology, arrives as Washington and Tokyo are negotiating President Donald Trump’s tariff measures, which have triggered worldwide concern about their impact on the economy and global trade. “I’m extremely optimistic ...
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The unexpected weakening of the U.S. dollar is suddenly becoming the rest of the world’s problem, The Wall Street Journal reported. For foreign sellers of all manner of goods, including cars, cognac and Scottish tweed, the dollar’s steep slide is a double whammy, compounding losses caused by President Trump’s import levies. For central banks around the world, the rapid strengthening of their own currencies heaps pressure to cut interest rates more aggressively. The U.S.
In the global trade war, Boeing is a big loser, The Wall Street Journal reported. Chinese officials told domestic airlines not to place new orders for Boeing jets and are requiring carriers to seek approval before taking delivery of already-ordered aircraft, according to people familiar with the matter. The tariff turmoil keeps getting worse for America’s largest exporter: Boeing’s vast and fragile supply chain is grappling with the end of its decades-long duty-free status. Boeing faces retaliatory tariffs from other countries.
Bally's Corp. considered waiting for Star Entertainment to enter voluntary administration before investing but feared the Australian casino group would have been too hard to rescue, said the U.S gaming firm's chairman, Soo Kim, Reuters reported. Rhode Island-based Bally's and the Mathieson family - Star's largest investor - engineered a A$300 million ($188 million) rescue package, handing over the first A$100 million last week. The initial funds will keep Star afloat for 15 months while seeking regulatory approval for the full investment, Kim said.