There are good reasons to be skeptical about a bilateral meeting that’s supposed to take place between the U.S. and North Korea, Cohen said. U.S. President Donald Trump made the surprise decision earlier this month to accept an invitation to meet with North Korean leader Kim Jong Un by May, […]
CNBC News
US exempts South Korea from steel tariffs, but imposes import quota
The United States agreed to exempt South Korea from steel tariffs, but imposed a quota onsteel imports, South Korea’s trade ministry said on Monday. Meanwhile, South Korea gave ground on automobile trade regulations by agreeing to changes in an existing bilateral free trade deal between the two countries, the ministry […]
The US is said to have sent China a to-do list to solve trade frictions
The U.S. administration last week sent a letter to Chinese economic overseer Liu He seeking a tariff cut on U.S. autos to help cut China’s trade surplus with the United States, the Wall Street Journal said, citing unnamed sources. In the letter, U.S. Treasury Secretary Steven Mnuchin and U.S. Trade […]
China’s new oil benchmark jumps more than 6 percent
Shanghai crude oil futures opened up more than 6 percent on Monday with almost 20million barrels of the most-active September contract changing hands in the first 25 minutes as China debuted its oil benchmark. The launch of China’s yuan-denominated oil futures marked the culmination of a decade-long push by the […]
‘Economic crisis’ and ‘chaos’: Nobel-winner Shiller issues a warning on Trump’s trade offensive
A ramp up in U.S.-China trade tensions — which many are predicting in the wake of a new round of tariff threats from both sides — would immediately result in an economic crisis, according to Nobel Prize-winning economist Robert Shiller. The Yale economist criticized U.S. President Donald Trump during a […]
Larry Summers: Trump’s steel tariffs are a bad idea for the US — even without Chinese retaliation
Leading economist Larry Summers questioned the wisdom of President Donald Trump’s new steel tariffs, saying Saturday that the policy has the potential to damage the U.S. economy. Speaking with CNBC at the China Development Forum in Beijing, Summers said the tariffs, ordered earlier this month, are positioned to hurt more […]
China’s new central bank chief pledges steady opening of financial sector
China will steadily reform and further open its financial sector while putting “equal emphasis” on preventing risks through regulation and supervision, the new central bank governor said on Sunday. In his first public speech since becoming central bank chief last week, Yi Gang told the China Development Forum in Beijing […]
Asia markets set to trade lower as concerns over a US-China trade war rise
Asian markets were set to trade lower on Monday, following a global sell-off late last week amid fears that rising tensions between the United States and China could lead to a full-blown trade war. In Australia, the benchmark ASX 200 opened lower, trading down 0.75 percent at 5,777.1 in early […]
Stormy Daniels tells ’60 Minutes’ she feared for her safety when she signed Trump hush agreement
Adult film actress Stormy Daniels feared for her safety in October 2016 when she signed a strict non-disclosure agreement with President Donald Trump‘s lawyer, Daniels told CBS’s “60 Minutes” in an interview that was set to air Sunday. Daniels, whose legal name is Stephanie Clifford, said her fear stemmed from […]
Uber is said to have agreed to sell Southeast Asia business to rival Grab
Ride-hailing firm Uber Technologies has agreed to sell its Southeast Asian business to bigger regional rival Grab, sources with knowledge of the matter said on Sunday, in what would be the U.S. company’s second retreat from Asia. The deal, which could be announced as early as Monday, marks the industry’s […]