Latest News, Updates & Breaking Headlines
General Motors (GM) has asked thousands of its suppliers to eliminate parts sourced from China by 2027, in one of the auto industry’s most aggressive moves yet to insulate its operations from deepening US-China trade tensions, Reuters reported, citing four people familiar with the matter.According to the report, GM has directed suppliers to find alternative…
The United States and China have begun rolling back trade actions, after the Busan meeting ended with “a great success.”Beijing recently suspended the export ban on ‘dual use’ materials while US reduced the fentanyl related duties from 20% to 10%.China also suspended the ‘special port fees’ on US vessels. The transport ministry announced that from…
India’s electronics sector could face a setback as trade tensions between US and China have eased after the Busan meeting between the presidents of two nations ended with ‘great success’.The electronics sector has raised alarm over potential threats to its global competitiveness after the tariffs on Chinese goods were reduced. The industry has urged the…
China has stepped back from one of its toughest trade measures against the United States, pausing a ban that restricted exports of gallium, germanium, antimony and other products linked to high-tech manufacturing. The commerce ministry said on Sunday that the suspension applies to “dual-use” items, goods that can be used for both civilian and military…
China and the United States have taken steps to cool their trade tensions after a meeting between presidents Donald Trump and Xi Jinping in South Korea last week. The move marks a cautious pause in a dispute that has disrupted global trade and technology ties since 2018.Here is where the two sides now stand on…
US treasury secretary Scott Bessent once again criticised China’s rare earth export controls, saying the United States and its allies are now moving at “warp speed” to build independent supply chains and reduce reliance on Beijing.Speaking to CNN, Bessent said that China’s strategy had been in motion for decades and accused the previous US governments…
The trade talks between US President Donald Trump and Chinese President Xi Jinping in Busan last week resulted in several breakthrough agreements, easing tensions for the two economies. These ranged from soybean purchases, tariff cuts and rare-earth export restrictions and more, though details were initially withheld. The White House on Saturday unveiled the complete terms…
During their latest meeting in South Korea, US President Donald Trump and Chinese President Xi Jinping managed to cool the intense trade stand-off between their countries briefly. The two leaders reached a provisional deal: the US would trim tariffs on Chinese goods by 10%, bringing the rate down to 47%, while China would pause its…
Soybean trade between the US and China is set to resume after months of halted purchases. Beijing had refused to purchase American soybean after the two nations got embroiled in tariff tensions.Now, China has agreed to buy 12 million metric tonnes from the United States in the ongoing season till January. However, this is still…
NEW DELHI: The ministry of external affairs on Thursday announced that some of the Indian companies have received licenses for importing rare earth magnets from China. During a weekly press briefing, MEA spokesperson Randhir Jaiswal said, “Some Indian companies have received licenses for importing rare earth magnets from China. We have to look at how…
