Asian shares stepped back on Tuesday after China cut its economic growth target and pledged measures to support the economy amid growing challenges from rising debt and a dispute over trade and technology with the United States. Australian shares dropped 0.6% while South Korea's Kospi lost 0.5%. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2% and Japan's Nikkei dropped 0.3%.
US President Donald Trump said on Monday he expects to hold a “signing summit” with China’s President Xi Jinping to seal a trade deal, since negotiators are “very, very close” to an agreement. Cheering global stock markets, the new comments confirm the dispute will not ratchet up immediately, averting an even bigger impact on the global economy.
The United States is delaying a planned increase of tariffs on more than US$200 billion in Chinese exports after substantial progress made in trade talks, President Donald Trump said on Sunday. Trump also said he planned to hold a summit with Chinese President Xi Jinping at his Florida estate Mar-a-Lago to ink a deal.
Trade talks between the US and China have broken up without a deal, with the US warning that “very difficult issues” remain unresolved. The talks in China this week were aimed at securing a new deal before further US tariffs are imposed on 1 March. China said negotiations would now continue in the US next week.
President Donald Trump said on Thursday he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline set by the two countries to achieve a trade deal.
U.S. President Donald Trump said on Thursday he will meet with Chinese President Xi Jinping soon to try to seal a comprehensive trade deal as Trump and his top trade negotiator both cited substantial progress in two days of high-level talks.
Trade talks between China and the United States this week were extensive, and helped establish a foundation for the resolution of each others' concerns, China's commerce ministry said on Thursday, but gave no details on the issues at stake.
A US delegation will visit China next week for talks aimed at defusing the trade war between the world's two largest economies. The closely watched meeting follows a dismal week for US markets, with losses fuelled partly by trade fears.
Peru's gross domestic product (GDP) is set to expand 3.7% this year and the next, boosted by the good performance of private investment and consumption, according to The Economist.
Chinese President Xi Jinping has vowed that his country will not develop at the expense of other nations, in a speech marking 40 years since China introduced major economic reforms. However, he also said that the global superpower would not be told what to do by anyone.