WASHINGTON (Reuters) - U.S. President Donald Trump threatened on Monday to impose a 10 percent tariff on $200 billion of Chinese goods, escalating a tit-for-tat trade war with Beijing.
TOKYO (Reuters) - Asian stocks skidded to a four-month low on Tuesday as U.S. President Donald Trump threatened new tariffs on Chinese goods in an escalating tit-for-tat trade war between the world’s two biggest economies that has rattled financial market
SINGAPORE (Reuters) - Oil prices dipped on Tuesday on expectations that producer cartel OPEC and key ally Russia will gradually increase output after withholding supplies since 2017.
The USD was weaker heading into this morning’s FOMC announcement but has recovered after a more hawkish statement was delivered.
Information received since the Federal Open Market Committee met in May indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate.
The report serves as a stark warning to the world’s largest oil exporters, who meet next week in Vienna to discuss supply policy.
Donald Trump has ordered the suspension of US military exercises with South Korea, in a surprise concession at an extraordinary summit with North Korean leader, Kim Jong-un.
Trump said the process of denuclearization would happen “very, very quickly”, adding he had formed a “special bond” with Kim and the relationship with North Korea would be very different.
President Donald Trump is about to see whether his bet on North Korea will pay off: that Kim Jong Un’s desire to end his country’s economic strangulation and pariah status will prevail over the dictator’s fear of relinquishing his nuclear threat.
The Federal Reserve is all but certain to raise its key rate by a quarter point this week, meaning it will then have a benchmark above that of five counterparts in the Asia-Pacific region excluding Japan.