Latest news with #economicTensions
CTV News
04-07-2025
- Business
- CTV News
China navigates delicate U.S. truce while affirming trade consensus
BEIJING — The Chinese commerce ministry said on Friday that Beijing and Washington had stepped up efforts to implement what they had agreed during recent trade talks but cautioned the U.S. against destabilizing their 'hard-won' consensus. China hopes the U.S. can continue to meet it half way and maintain the stability of bilateral trade and economic relations, the commerce ministry said, as the two economic super-powers seek a resolution to their trade tensions. 'We hope the U.S. side will deeply understand the mutually beneficial and win-win nature of China-U.S. economic and trade relations,' it said in a statement. In three separate statements released in the past week about U.S. trade talks, the ministry called on Washington to preserve the positive momentum while also warning other countries against 'making a deal at the expanse of China's interests' with the U.S. Thanks to its trade truce with the U.S., China is not at risk of being slammed by higher tariffs when the 90-day pause on Liberation Day tariffs ends next week, but Trump's trade deals with Britain and Vietnam suggest China may remain an indirect target, said Julian Evans-Pritchard, head of China Economics. 'It seems that Trump is keen to crack down on the rerouting of Chinese exports via third countries, which has diminished the effectiveness of U.S. tariffs,' Evans-Pritchard said. As a July 9 trade deadline for countries to negotiate trade deals with the U.S. nears, Beijing is keen to remind Washington that the success of their trade talks in London did not come about easily. Earlier this year, China retaliated against U.S. tariffs by suspending exports of a wide range of critical minerals and magnets. During U.S.-China trade talks in Geneva in May, Beijing committed to removing the measures imposed since April 2, but the U.S. said those critical materials were not moving as fast as agreed. The breakthrough came during the London talks in June, with both sides agreeing for a framework to implement the Geneva agreement that involved expediting rare earth shipments to the U.S. 'China is currently reviewing and approving eligible export license applications for controlled items,' the commerce ministry said in the statement, referring to its own rare earth export curbs. The U.S. has also taken actions 'to lift a series of restrictive measures against China, and has informed China about the relevant situation,' the ministry said, confirming reports that Washington resumed China-bound exports of chip design software, ethane and jet engines. 'Teams on both sides are stepping up efforts to implement relevant outcomes of the London Framework,' the Chinese ministry said, calling the framework 'hard-won.' Earlier this week, the U.S. sent letters to ethane producers to rescind a restrictive licensing requirement on exports to China imposed in late May and June, after its official confirmed concessions from Beijing over rare earths. Some chip design software developers have restored access to their software and technology for customers in China after Washington lifted similar restrictions. GE Aerospace was also cleared to resume jet engine shipments to China. (Reporting by Xiuhao Chen and Ryan Woo; Editing by Jamie Freed, Alexandra Hudson)
Reuters
04-07-2025
- Business
- Reuters
China navigates delicate US truce while affirming trade consensus
BEIJING, July 4 (Reuters) - The Chinese commerce ministry said on Friday that Beijing and Washington had stepped up efforts to implement what they had agreed during recent trade talks but cautioned the U.S. against destabilising their "hard-won" consensus. China hopes the U.S. can continue to meet it half way and maintain the stability of bilateral trade and economic relations, the commerce ministry said, as the two economic super-powers seek a resolution to their trade tensions. "We hope the U.S. side will deeply understand the mutually beneficial and win-win nature of China-U.S. economic and trade relations," it said in a statement. In three separate statements released in the past week about U.S. trade talks, the ministry called on Washington to preserve the positive momentum while also warning other countries against "making a deal at the expanse of China's interests" with the U.S. Thanks to its trade truce with the U.S., China is not at risk of being slammed by higher tariffs when the 90-day pause on Liberation Day tariffs ends next week, but Trump's trade deals with Britain and Vietnam suggest China may remain an indirect target, said Julian Evans-Pritchard, head of China Economics. "It seems that Trump is keen to crack down on the rerouting of Chinese exports via third countries, which has diminished the effectiveness of U.S. tariffs," Evans-Pritchard said. As a July 9 trade deadline for countries to negotiate trade deals with the U.S. nears, Beijing is keen to remind Washington that the success of their trade talks in London did not come about easily. Earlier this year, China retaliated against U.S. tariffs by suspending exports of a wide range of critical minerals and magnets. During U.S.-China trade talks in Geneva in May, Beijing committed to removing the measures imposed since April 2, but the U.S. said those critical materials were not moving as fast as agreed. The breakthrough came during the London talks in June, with both sides agreeing for a framework to implement the Geneva agreement that involved expediting rare earth shipments to the U.S. "China is currently reviewing and approving eligible export licence applications for controlled items," the commerce ministry said in the statement, referring to its own rare earth export curbs. The U.S. has also taken actions "to lift a series of restrictive measures against China, and has informed China about the relevant situation," the ministry said, confirming reports that Washington resumed China-bound exports of chip design software, ethane and jet engines. "Teams on both sides are stepping up efforts to implement relevant outcomes of the London Framework," the Chinese ministry said, calling the framework "hard-won". Earlier this week, the U.S. sent letters to ethane producers to rescind a restrictive licensing requirement on exports to China imposed in late May and June, after its official confirmed concessions from Beijing over rare earths. Some chip design software developers have restored access to their software and technology for customers in China after Washington lifted similar restrictions. GE Aerospace was also cleared to resume jet engine shipments to China.
Yahoo
04-07-2025
- Business
- Yahoo
China navigates delicate US truce while affirming trade consensus
BEIJING (Reuters) -The Chinese commerce ministry said on Friday that Beijing and Washington had stepped up efforts to implement what they had agreed during recent trade talks but cautioned the U.S. against destabilising their "hard-won" consensus. China hopes the U.S. can continue to meet it half way and maintain the stability of bilateral trade and economic relations, the commerce ministry said, as the two economic super-powers seek a resolution to their trade tensions. "We hope the U.S. side will deeply understand the mutually beneficial and win-win nature of China-U.S. economic and trade relations," it said in a statement. In three separate statements released in the past week about U.S. trade talks, the ministry called on Washington to preserve the positive momentum while also warning other countries against "making a deal at the expanse of China's interests" with the U.S. Thanks to its trade truce with the U.S., China is not at risk of being slammed by higher tariffs when the 90-day pause on Liberation Day tariffs ends next week, but Trump's trade deals with Britain and Vietnam suggest China may remain an indirect target, said Julian Evans-Pritchard, head of China Economics. "It seems that Trump is keen to crack down on the rerouting of Chinese exports via third countries, which has diminished the effectiveness of U.S. tariffs," Evans-Pritchard said. As a July 9 trade deadline for countries to negotiate trade deals with the U.S. nears, Beijing is keen to remind Washington that the success of their trade talks in London did not come about easily. Earlier this year, China retaliated against U.S. tariffs by suspending exports of a wide range of critical minerals and magnets. During U.S.-China trade talks in Geneva in May, Beijing committed to removing the measures imposed since April 2, but the U.S. said those critical materials were not moving as fast as agreed. The breakthrough came during the London talks in June, with both sides agreeing for a framework to implement the Geneva agreement that involved expediting rare earth shipments to the U.S. "China is currently reviewing and approving eligible export licence applications for controlled items," the commerce ministry said in the statement, referring to its own rare earth export curbs. The U.S. has also taken actions "to lift a series of restrictive measures against China, and has informed China about the relevant situation," the ministry said, confirming reports that Washington resumed China-bound exports of chip design software, ethane and jet engines. "Teams on both sides are stepping up efforts to implement relevant outcomes of the London Framework," the Chinese ministry said, calling the framework "hard-won". Earlier this week, the U.S. sent letters to ethane producers to rescind a restrictive licensing requirement on exports to China imposed in late May and June, after its official confirmed concessions from Beijing over rare earths. Some chip design software developers have restored access to their software and technology for customers in China after Washington lifted similar restrictions. GE Aerospace was also cleared to resume jet engine shipments to China.
Yahoo
19-06-2025
- Business
- Yahoo
Bitcoin Cash Jumps to $480 as 24-Hour Trading Volume Spikes 22% Above Average
Bitcoin Cash (BCH) BCH rose 3.15% in the past 24 hours to $480.10, climbing sharply from a session low near $454 after buyers stepped in to reverse early weakness, according to CoinDesk Research's technical analysis model. While much of the crypto market struggled under pressure from global economic tensions and declining Bitcoin prices, BCH broke out to the upside late in the session as volume surged and short-term resistance levels gave way. The move came amid a 21.98% increase in 24-hour trading volume versus the 30-day average, confirming a shift in participation and signaling that traders were positioning into strength. Key buying activity occurred throughout the U.S. morning hours, with multiple volume spikes between 08:00 and 12:20 UTC. The final push above $468 was fueled by aggressive buying in the last hour of the analysis window. Despite broader headwinds — including a 3.5% decline in total crypto market capitalization and escalating U.S.-China trade tensions — BCHstood out for its relative resilience. The coin reclaimed levels lost earlier this week and ended near the day's high, with a clear pattern of higher lows and sustained accumulation at each breakout. While short-term volatility may continue, BCH enters the next session with visible momentum and fresh support. Technical Analysis Highlights BCH traded in a 24-hour range between $454.16 and $469.06, a 3.26% swing. The day began with a drop to $454 on above-average volume (41K), but a rebound formed a base at $455–$458. Volume spikes during 08:00–10:00 signaled increasing buyer interest, helping lift price toward the $468 resistance level. The final hour saw a breakout from $462.75 to $468.77 (+1.3%), followed by strong continuation to $480.10. Notable buy-side volume hit at 11:27 (1,314 units), 12:15 (718 units), and 12:20–12:21 (3,600+ units total), confirming demand. An uptrend formed with higher highs and higher lows, strengthened by sustained volume into the close. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
13-05-2025
- Politics
- National Post
Neil D. Stephenson: McGill rugby award celebrates enduring tale of Canada-U.S. friendship
As a Canadian with an education in political science and a former executive of a major American news organization, I am dismayed by the ongoing economic tensions between Canada and the United States. This conflict — which Canada neither instigated nor desired — has been manufactured by U.S. President Donald Trump. Article content Article content Despite political rhetoric on both sides of the border assuring us that Canadians love Americans, and vice versa, it is essential for ordinary citizens to take tangible steps to maintain and demonstrate this friendship — and to remind ourselves of the many thousands of past instances in our lives where that friendship has manifested itself without us consciously thinking about it. Article content Article content In that spirit, and given the recent federal election, I wanted to share two stories: first, of a new varsity sports award; and second, of a historic, 151-year-old cross-border sports rivalry. Article content Article content The first story begins with its two inspirations, a woman named Marie Evelyn Moreton (better known as Lady Byng, wife of Canada's 12th governor general, Lord Julian Byng) and Winston Churchill. The former was a hockey fanatic who wanted to encourage gentlemanly conduct and good sportsmanship, and the latter famously quipped that, 'Rugby is a hooligan's game played by gentlemen.' Article content The other lead characters in the story include a rugby team founded in 1872, an American rugby player from McGill's 1955 squad and a newly endowed sports award. Throughout its storied history, the McGill University Rugby Football Club (MURFC, which is known today as the McGill Redbirds) has emphasized the importance of how its players conduct themselves on and off the field. Article content In keeping with the dicta expressed by Churchill and Byng, MURFC has officially announced the Dr. Joseph Hanaway McGill Rugby Gentleman's Award. This award annually recognizes a McGill rugby player who consistently exemplifies gentlemanly conduct on and off the field for a minimum of two playing seasons. Article content Article content The idea for a non-endowed award was first proposed to McGill Athletics in late 2020 to formally recognize the qualities of integrity, sportsmanship and respectfulness that are integral to rugby culture worldwide. After just five months of fundraising, we surpassed the $80,000 threshold required for an endowment and the newly endowed award was formally announced to the team at a ceremony on April 10. Article content Article content As of today, McGill has received $107,000 in contributions, with additional pledges still coming. Beginning in December, the award will confer a $3,500 cash prize to the named recipient.
