Latest news with #USChinaRelations
NHK
10 hours ago
- Business
- NHK
US, China reportedly sign deal aimed at easing trade tensions
US Commerce Secretary Howard Lutnick says the United States and China have signed a trade agreement after talks in London earlier this month. Lutnick was speaking in an interview with Bloomberg TV. Senior officials from Washington and Beijing met this month and agreed on a framework for easing trade tensions. Export restrictions on rare earth metals by Beijing and on semiconductor-related items by Washington have been focal points of the negotiations. A Chinese Commerce Ministry spokesperson said on Friday that the countries maintained close communication after the talks, and further confirmed the details of the framework. Regarding exports of rare earths, the spokesperson said China will review and approve eligible applications in accordance with the law, while the US will lift a series of restrictive measures imposed against Beijing in response.
Yahoo
13 hours ago
- Business
- Yahoo
US-China Deal Prospects Improve Market Sentiment
Fiona Cincotta, financial markets senior analyst at City Index, says the markets are pricing in optimism about better relations between the US and China. She joins Ed Ludlow on "Bloomberg Tech."
Bloomberg
14 hours ago
- Business
- Bloomberg
US-China Deal Prospects Improve Market Sentiment
Fiona Cincotta, financial markets senior analyst at City Index, says the markets are pricing in optimism about better relations between the US and China. She joins Ed Ludlow on 'Bloomberg Tech.' (Source: Bloomberg)
Zawya
a day ago
- Business
- Zawya
Shares rise on China-US trade hopes, dollar on the back foot
PARIS - Global shares rallied on Friday, helped by signs of progress in U.S.-China trade talks, while the dollar held close to its lowest levels in more than three years. World stock markets have rallied to record highs this week, as traders took confidence from a ceasefire between Iran and Israel and markets stepped up bets for U.S. rate cuts. A trade agreement between the U.S. and China on Thursday on how to expedite rare earth shipments to the U.S. was also seen by markets as a positive sign, amid efforts to end the tariff war between the world's two biggest economies. Asian shares hit their highest in more than three years in early trading, and U.S. stock futures pointed to a firm start for Wall Street shares. The pan-European STOXX 600 index was up 0.8% on the day, set for a 1.1% weekly gain - its best week since mid-May. London's FTSE 100 was up 0.5% and Germany's DAX gained 0.6%. The MSCI World Equity Index touched a fresh record high and was set for a weekly gain of 2.8%. The S&P 500 index is up just 4.4% this year overall, following a volatile first half of the year, dominated by U.S. President Donald Trump's "Liberation Day" tariff announcement on April 2, which sent stocks plunging. "What we are having right now is potentially some optimism about some trade deals," said Vasileios Gkionakis, senior economist and strategist at Aviva Investors. "We have... come from quite low levels in the aftermath of the Liberation Day in April. To a certain extent we have also had some mini-selloff on the back of the events in the Middle East, and in that sense we're rebounding." Trump has set July 9 as the deadline for the European Union and other countries to reach a deal to reduce tariffs. Mark Haefele, Chief Investment Officer at UBS Global Wealth Management said that in the near-term, the firm saw greater upside potential in U.S. and emerging markets than in Europe. DOLLAR DROP The dollar remained on the backfoot, hovering near its lowest level in 3-1/2 years against the euro and sterling. The dollar index was down a touch on the day at 97.269 , holding near its lowest in more than three years. The euro was at $1.1708, getting a lift after data showed French consumer prices rose more than expected in June. It held near multi-year peaks hit a day earlier. "We see the U.S. dollar as unattractive," said Haefele at UBS Wealth Management. Markets are focused on U.S. monetary policy, as traders weigh up the possibility of Trump announcing a new, more dovish chair of the Federal Reserve. Traders have stepped up their bets on U.S. rate cuts, and are now pricing in 64 basis points (bps) of easing this year versus 46 bps expected on Friday. The dollar is having its worst start to a year since the era of free-floating currencies began in the early 1970s. 'I don't think it's just the repricing of the Fed, I think there is a broader issue here of some tarnishing of U.S. exceptionalism,' Aviva Investors' Gkionakis said. Core PCE price data, the U.S. central bank's preferred measure of inflation, is due later in the session. German 30-year government bond yields were on track for their biggest weekly increase in nearly four months after rising this week on expectations of increased borrowing by Germany's government. Oil prices meanwhile rose but were set for their steepest weekly decline since March 2023, as the absence of significant supply disruption from the Iran-Israel conflict saw any risk premium evaporate. Brent crude futures rose 0.5% to $68.06 a barrel while U.S. West Texas Intermediate crude was up by the same amount to $65.54.
Bloomberg
a day ago
- Business
- Bloomberg
US-China Trade Truce Signed
The US and China finalized a trade understanding reached last month in Geneva, US Commerce Secretary Howard Lutnick said, adding that the White House has imminent plans to reach agreements with a set of 10 major trading partners. The China deal, which Lutnick said had been signed two days ago, codifies the terms laid out in trade talks between Beijing and Washington, including a commitment from China to deliver rare earths used in everything from wind turbines to jet planes. 'They're going to deliver rare earths to us' and once they do that, 'we'll take down our countermeasures,' Lutnick told Bloomberg News in an interview. Today's guests: Alex Brazier, BlackRock Global Head of Investment and Portfolio Solutions, Themistoklis Fiotakis, Barclays Global Head of FX Strategy and Emerging Markets Macro Strategy, Mattias Ljungman, Moonfire Ventures Founder and Managing Partner (Source: Bloomberg)
