United States has refrained from labeling China a currency manipulator in a move which may help defuse escalating tension over trade between the two countries. President Trump has previously accused China of keeping its currency weak to make its exports more competitive.
China on Wednesday unveiled plans to cut tariffs for products including machinery, electrical equipment and textile products beginning on Nov. 1, as the country braces for an escalating trade war with the United States.
United States president Donald Trump escalated his trade war with Beijing, imposing 10% tariffs on about US$ 200 billion worth of imports in a move one senior Chinese regulator said “poisoned” the atmosphere for negotiations.
Japan is planning to lift a ban on beef imports from Uruguay next year, ending a more than 17-year embargo following the outbreak of foot-and-mouth disease in the South American nation in 2000, according to government sources in Tokyo.