A container ship unloads its cargo at the main port terminal in Long Beach, California. Agence France-Presse
China’s factory activity shrank more than expected in June, an official manufacturing survey showed, highlighting the need for more economic stimulus as US tariffs and weaker domestic demand ramped up pressure on new orders for goods.
The White House said on Friday that President Donald Trump is delaying a decision by up to six months on whether to impose tariffs on imported cars and parts to allow for more time for trade talks with the European Union and Japan.
China on Saturday increased tariffs on billions worth of US goods as it prepares to unveil a blacklist of “unreliable” foreign companies that analysts say aims to punish US and foreign firms cutting off supplies to telecoms giant Huawei.
The United States began collecting higher, 25% tariffs on many Chinese goods arriving in US seaports on Saturday morning in an intensification of the trade war between the world’s two largest economies and drawing retaliation from Beijing.
The blue-chip NSE Nifty 50 index rose 0.4% to 14,574 and the benchmark S&P BSE Sensex was up 0.3% at 49,544.75. The Nifty and Sensex rose 1.7% on Tuesday.
Speculations have been going on for weeks about his whereabouts after he disappeared from the public following an October speech criticizing China’s financial system.
US West Texas Intermediate (WTI) crude futures climbed 37 cents, or 0.7%, to $53.35 a barrel while Brent crude futures rose 35 cents, or 0.6%, to $56.25 a barrel.