The countries have exchanged tariffs on $360 billion in a two-way trade.
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.
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 and China have agreed to a tentative truce in their trade dispute ahead of a meeting between leaders of the two nations at the G20 summit this weekend, the South China Morning Post reported on Thursday, citing sources.
World stock markets advanced Monday, helped by investor confidence in upcoming US quarterly earnings and the business outlook, and by hopes for progress towards a coronavirus vaccine, dealers said.
The Ministry of Finance (MoF), announced the completion of phase one of the transformation of the e-Dirham system, in cooperation with relevant ministries and national banks across the UAE.
Jebel Ali Free Zone (Jafza), the leading business and logistics hub, has recently recorded 10.6 per cent growth in the retail and e-commerce sector with a total trade value of Dhs37.6 billion despite the sudden challenges facing both regional and global economy in recent times.
With economic activities coming to a halt amid the Covid-19 pandemic and the lockdown, the Indian economy is expected to record a negative 4.5 per cent growth rate in the current financial year (FY21), according to the FICCI’s Economic Outlook Survey.