Trade wars

Beijing yesterday vowed to "safeguard" its interests against a new U.S. policy to restrict investment in Chinese technology, accusing Washington of disrupting global supply chains.

Beijing has asked the United States, Japan and the Netherlands to confirm the existence of an alleged agreement between the three countries to curb semiconductor exports to China, state media reported yesterday.

Beijing's representatives issued the request during a regular meeting this week at the World Trade Organization (WTO), according to a state television broadcast.

China on Thursday announced that it will halve tariffs on hundreds of U.S. goods worth about $75 billion, the government said on Thursday.

German investor confidence hit its lowest ebb in almost eight years in August, a survey by the ZEW institute showed on Aug. 13, sapped by trade and currency wars and the threat of a no-deal Brexit.

China's economy already is slowing amid the trade conflict with the United States, but if Washington were to ramp up tariffs even further it could cut Chinese growth sharply, the International Monetary Fund (IMF) has warned.

Fears that spiraling tensions between Iran and the U.S. could erupt into conflict and the latter's trade battle with China are poised to dominate a high-stakes G20 summit that will begin on June 28.

The United States cannot use pressure to force a trade deal on China, a senior Chinese official and trade negotiator said on June 2, refusing to be drawn on whether the leaders of the two countries would meet at the G20 summit to bash out an agreement.   

Deepening a trade battle and sending financial markets into a tailspin, China announced on May 13 it was raising tariffs on $60 billion of U.S. goods in retaliation for the latest hike in U.S. tariffs on its exports.

How do developed economies maintain their low interest rates?

The White House on Aug. 15 said U.S. tariffs on aluminum and steel imports from Turkey are "specific to national security."