The following editorial on the current US/China trade war was published by the official news agency Xinhua,
If the Singapore meeting between Donald Trump and Kim Jong Un had been a zero-sum game, then Trump definitely lost. But maybe it wasn't. Kim got a meeting with Trump on terms of strict equality right down to the number of flags on display, which is a huge boost for his regime's claim to legitimacy.
China responded forcefully in state media on Saturday after the administration of U.S. President Donald Trump said it would impose tariffs on US$50 billion of Chinese imports, but some commentary left room for further negotiations.
Asian shares wobbled on Friday as investors braced for U.S. tariffs against China, while the Euro flirted with two-week lows after a cautious European Central Bank indicated it would not raise interest rates for some time. U.S. President Donald Trump has made up his mind to impose “pretty significant” tariffs and will unveil a list targeting US$ 50 billion of Chinese goods on Friday, an administration official said. Beijing has warned that it was ready to respond.
The International Monetary Fund said on Thursday that tax cuts will help fuel the U.S. economy this year and next. But it warned that growth after that will slide to levels just half of what the Trump administration is forecasting.
North Korea will not see any economic sanctions lifted until it has demonstrated “complete denuclearisation”, US Secretary of State Mike Pompeo has said. Pompeo was speaking at a press conference in Seoul with his South Korean and Japanese counterparts.
The U.S. government has frozen about US$ 800 million in assets from senior Venezuelan leader Diosdado Cabello Miami journalist Oscar Haza reported Tuesday during his morning radio show on Miami’s Spanish-language Zeta 92.3.
The US Federal Reserve raised the benchmark lending rate on Wednesday, the second increase of the year, and signaled it will be more aggressive about rate increases this year and next amid “strong” economic growth. The unanimous vote brings the federal funds rate to a range of 1.75 to 2%, but the quarterly economic forecasts show central bankers now expect the rate to end the year at 2.4% rather than the 2.1% projected in March.
Sportswear giant Nike says it has withdrawn its supply of boots to Iranian footballers ahead of the World Cup because of new US sanctions. The decision has frustrated Iranian players and head coach Carlos Queiroz, who asked FIFA to help his players.
In the spirit of Russia and the 2018 World Cup, US President Donald Trump reportedly penned three letters to FIFA to assuage travel concerns related to the 2026 World Cup bid. The letters, first reported by the New York Times, are meant to clear up concerns about entry to the U.S. for players and officials.