Inside the U.S.-China Trade Cease-Fire
A 90-day pause
Stocks, the dollar and oil are soaring on Monday after President Trump’s top negotiators outlined the specifics of a major — though temporary — de-escalation in the U.S.-China trade fight.
Expectations were sky-high for some kind of breakthrough. The market reaction suggests mission accomplished in terms of reaching an important détente, though significant trade barriers remain and plenty still needs to be worked out.
A month into the trade war, China's exports to the US have already plummeted over 20%
The first hard data to emerge from the US-China trade war shows trade between the world's two biggest economies is already way down.
Chinese exports to the US tanked 21% in April compared to a year ago, according to customs administration data cited by Bloomberg. Imports from the US into China fell nearly 14% year over year.
Trading volumes have dropped as a result of the punitive tariffs both countries have imposed after President Donald Trump ramped up duties on imports from China to 145% last month.
China rolls out more stimulus and agrees to trade talks with the US as tariffs hit economy
China announced a barrage of measures meant to counter the blow to its economy from U.S. President Donald Trump ’s trade war, as the two sides prepared for talks later this week.
Beijing's central bank governor and other top financial officials outlined plans Wednesday to cut interest rates and reduce bank reserve requirements to help free up more funding for lending. They also said the government would increase the amount of money available for factory upgrades and other innovation and for elder care and other service businesses.
As Trump ramps up tariffs, TikTok boosts pro-China trade content
President Donald Trump’s effort to save popular social media app TikTok has been caught in the escalating tariff war between Washington and Beijing, with Trump suggesting that he may again extend the deadline for a deal.
A new study concludes that, at the same time as China is using the application as a negotiating chip, the platform is boosting propaganda aimed at undermining U.S. support for Trump’s tariff policies and to promote Chinese goods and manufacturers.
The first boats carrying Chinese goods with 145% tariffs are arriving in LA. They’re half-full. Expect shortages soon
American consumers are on the cusp of tough choices because of President Donald Trump’s trade war.
Ships now pulling into US harbors from China are the first to be subject to the massive tariffs that America is imposing on most Chinese imports. Many of them are half full.
That means, in a matter of weeks, consumers will face higher prices and shortages of certain items.
Trump's late push for huge new corporate tax cuts
The Trump administration is pressing Congress to dramatically expand the number of business-friendly tax cuts in a budget bill that's already complicated and costly.
Why it matters: New additions, such as full expensing to build new factories in the U.S., are leading to confusion among senators and staffers on what President Trump absolutely must have in his tax bill, and how much it will ultimately cost.
- "Everything here comes down to, how do you pay for it and how does it fit into our other priorities?" Sen. Tom Tillis (R-N.C.) told Axios...
Warren Buffett and Donald Trump are two extraordinary men. One is modest and wise, the other vulgar and venal. How sad it's the latter who now defines America, writes DOMINIC LAWSON
This was a career like no other; but at the age of 94, and after 60 years at the helm of his company Berkshire Hathaway, on Saturday Warren Buffett told the annual public meeting of his adoring shareholders that he was leaving them.
The Emotional Moment When Warren Buffett Announced His Departure
It was closing in on 1 p.m. here when Warren Buffett, seated onstage before a rapt audience of about 40,000 at the CHI Health Center, said that he was getting a “5-minute warning.”
Trump orders 100% tariff on foreign-made movies to save 'dying' Hollywood
U.S. President Donald Trump on Sunday announced a 100% tariff on movies produced outside the country, saying the American movie industry was dying a "very fast death" due to the incentives that other countries were offering to lure filmmakers.
"This is a concerted effort by other Nations and, therefore, a National Security threat. It is, in addition to everything else, messaging and propaganda," Trump said on Truth Social.
Skechers is going private during the middle of a trade war
Skechers is fleeing the public market and hunkering down by going private during the middle of a trade war.
The company announced Monday that investment firm 3G Capital will buy Skechers for $9.4 billion. 3G will pay $63 a share for the brand, a 30% premium of the company’s stock.
“With a proven track-record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital,” Skechers CEO Robert Greenberg said in a statement.