Top officials from the Trump administration will meet with their Chinese counterparts in Switzerland this week, the first formal meeting about trade between the United States and China since President Trump raised tariffs on Chinese imports to triple-digit levels last month. Scott Bessent, the Treasury secretary, and Jamieson Greer, the United States trade representative, plan to meet with Chinese officials …
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As trade tensions flared between the world’s largest economies, communication between the United States and China has been so shaky that the two superpowers cannot even agree on whether they are talking at all. At a White House economic briefing this week, Treasury Secretary Scott Bessent demurred multiple times when pressed about President Trump’s recent claim that President Xi Jinping …
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President Trump has made clear his intent to smash the reigning global economic order. And in 100 days, he has made remarkable progress in accomplishing that goal. Mr. Trump has provoked a trade war, scrapped treaties and suggested that Washington might not defend Europe. He is also dismantling the governmental infrastructure that has provided the know-how and experience. The changes …
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If the trade war between China and the United States is a game of high-stakes brinkmanship, it is currently a game that Beijing is not willing to play. Faced with growing claims by President Trump and administration officials that the two countries are engaged in talks and that a deal could be reached in a matter of weeks, China’s Foreign …
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After weeks of bluster and escalation, President Trump blinked. Then he blinked again. And again. He backed off his threat to fire the Federal Reserve chairman. His Treasury secretary, acutely aware that the S&P 500 was down 10 percent since Mr. Trump was inaugurated, signaled he was looking for an offramp to avoid an intensifying trade war with China. And …
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Treasury Secretary Scott Bessent on Wednesday called for major overhauls to the missions of the International Monetary Fund and the World Bank but said that the United States remained committed to maintaining its leadership role at the global economic institutions. The comments, made at a speech on the sidelines of the spring meetings of the I.M.F. and the World Bank, …
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China on Wednesday unexpectedly appointed a new trade negotiator key in any talks to resolve the escalating tariff war with the US, replacing veteran trade tsar Wang Shouwen with its envoy to the World Trade Organisation. Li Chenggang, 58, a former assistant commerce minister during the first administration of US President Donald Trump, takes over from Wang, 59, the human …
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Fast-fashion giants like Shein and Temu have been doing booming business in the United States in recent years, in part because of a tariff exemption that’s helped to keep prices low on packages shipped from China. Now, President Trump has ordered the loophole closed as part of new tariffs, starting with packages from China and Hong Kong. It could have …
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President Trump’s decision to move a step closer to imposing tariffs on imported medicines poses considerable political risk, because Americans could face higher prices and more shortages of critical drugs. The Trump administration filed a federal notice on Monday saying that it had begun an investigation into whether imports of medicines and pharmaceutical ingredients threaten America’s national security, an effort …
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President Trump came into office sounding as if he were eager to deal with President Xi Jinping of China on the range of issues dividing the world’s two biggest superpowers. He and his aides signaled that they wanted to resolve trade disputes and lower the temperature on Taiwan, curb fentanyl production and get to a deal on TikTok. Perhaps, over …
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