Donald Trump, accompanied by Sen. Ron Johnson, R-Wis., arrives at Green Bay Austin Straubel International Airport. Associated Press
Trade talks between the US and China broke up on Friday with no agreement, hours after President Donald Trump more than doubled tariffs on $200 billion in Chinese imports.
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 United States will not impose any new tariffs on China for now, President Donald Trump said on Saturday after high-stakes talks with his Chinese counterpart on the bruising trade war.
Global shares dipped on Friday as data out of China, the eurozone and the United States put a lid on expectations for a sustained global rebound, with traders already worried about a delay in US fiscal stimulus.
Chinese firms like Xiaomi are facing delays getting approvals from India’s quality control agency for their goods, five industry sources told Reuters, as the business environment deteriorates after a clash on their Himalayan border.
Abu Dhabi National Energy Company (Taqa), announced on Thursday its earnings for the second quarter of 2020. The company’s revenues reached Dhs3.3 billion for the quarter, reflecting the COVID-19 pandemic ongoing adverse impact on energy markets.