United States and Chinese negotiators kicked off two days of official trade talks in Beijing on Thursday as the world's top two economies try to patch up their festering economic dispute. Pressure to seal an accord ahead of a March deadline lessened before the talks as US President Donald Trump indicated on Tuesday in Washington he was open to extending a trade truce, depending on progress in Beijing.
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.
Jaguar Land Rover booked a loss for the last three months of 2018 as sales collapsed in China. The company booked a £3.1bn reduction in the value of its plants and other investments leading to a £3.4bn quarterly loss, its biggest to date.
United Nations trade official has warned a US plan to raise tariffs on Chinese goods next month would have massive implications for the global economy. The US plans to increase tariffs on Chinese goods if the two sides fail to make progress on a trade deal by 1 March.
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.
Russia and China strongly criticized U.S. sanctions placed on Venezuela, with the former pledging to support the beleaguered President Nicolas Maduro. Russian Foreign Minister Sergei Lavrov said on Tuesday the sanctions completely undermined confidence in an international financial system that is dominated by the U.S., Russian news agency Interfax reported.
Latin American stocks rose on Tuesday, outperforming world stocks that struggled to hold gains ahead of keenly awaited U.S.-Sino trade talks, earnings of top technology companies and an impending U.S. Federal Reserve decision on interest rates.
The United States and China are “miles and miles” from resolving trade issues but there is a fair chance the two countries will get a deal, U.S. Commerce Secretary Wilbur Ross said on Thursday.
The new chief executive of Goldman Sachs says that a difficult Brexit will negatively affect its investment plans in the UK. David Solomon told the BBC that while there has been a hiring freeze in the UK, the bank has been adding staff in the EU over the last two years.
China and Europe take centre stage at Davos on Wednesday, a day after Brazil's hard-right President Jair Bolsonaro promised reform and respect for the environment to the world's business elite.