1 week Ago
Uncertainty is rocking the US bond market despite Trump's tariff pause. Here's the latest Experts have warned that the unpredictable, stop-start nature of President Donald Trump’s trade policy will likely dampen investment and could slow global economic growth. Here’s the latest on tariffs: Trump concedes problems: Trump conceded that there may be “transition problems” with his trade policies but said his team is working on deals with countries.
About 15 countries made “explicit” offers to the US, National Economic Council Director Kevin Hassett said. US-China trade war escalates: Stressing his good relationship with Chinese leader Xi Jinping, Trump expressed optimism that the two countries would eventually reach a deal . But two senior White House officials told CNN that the US will not reach out to China first.
Here’s why Beijing may see it differently. China’s president hits back: Xi said his nation is “not afraid”, in his first public comments on the trade war . Market response: The global economic uncertainty has again prompted investors to sell off stocks and bonds at the same time — a rare and worrying phenomenon .
The US stock market, fresh off its third-best day , is sinking back into reality, and the market for US Treasuries is showing signs of distress again after a brief respite. Impact on Americans: Trump’s tariffs will cost the typical middle-class household $3,443 a year , research showed, with lower-income Americans to be hit harder as a share of their total income. You can expect Amazon prices to rise .
And here’s when iPhones may get more expensive. China’s Xi’s addresses US tariff war for the first time, warning “there are no winners” Chinese leader Xi Jinping has said his nation is “not afraid”, in his first public comment on the escalating trade war with the US that has tanked international markets and fueled fears of a global recession. “There are no winners in a trade war, and going against the world will only lead to self-isolation,” Xi told Spain’s Prime Minister Pedro Sanchez in Beijing on Friday, according to state broadcaster CCTV.
“For over 70 years, China’s development has relied on self-reliance and hard work — never on handouts from others, and it is not afraid of any unjust suppression,” Xi said. “Regardless of how the external environment changes, China will remain confident, stay focused, and concentrate on managing its own affairs well.” Tesla stops taking orders for US-made cars in China Tesla has stopped taking online orders in China for two electric vehicle (EV) models produced mostly in the United States, according to CNN checks of its website on Friday.
The Model S, a four-door sedan, and Model X, a mid-size crossover SUV, can no longer be ordered. The Model 3 and Model Y, both produced at Tesla’s Gigafactory in Shanghai, are not affected. CNN has reached out to Tesla for comment.
The suspension comes a day after Beijing imposed its own retaliatory tariffs of 84% on US imports on Thursday, further escalating a trade war with US President Donald Trump. While Tesla is a major car brand in China, the world’s biggest car market, the Model S and Model X are niche vehicles in the country and don’t boast huge sales. On Thursday, Trump clarified that an extra 145% tariff would be charged on all Chinese goods arriving on US shores.
Iran says it will give US talks a "genuine chance" Iran says it will give diplomacy with the US a “genuine chance,” as the two sides prepare for high-level talks in Oman on Saturday. US President Donald Trump has indicated the talks could lead to a deal on Iran’s nuclear program, while Iran has touted the opportunity for lucrative two-way business and trade under normalized diplomatic relations. According to Iran’s state media, Oman will mediate the indirect talks, with White House Middle East envoy Steve Witkoff representing the Trump administration and Foreign Minister Abbas Araghchi leading the Iranian delegation.
White House officials had earlier said the talks would be “direct.” “In earnest & with candid vigilance we are giving diplomacy a genuine chance,” Iran’s Foreign Ministry spokesman Esmaeil Baqaei wrote on X on Friday. “We intend to assess the other side’s intent & resolve this Saturday,” Baqaei said.
Washington and Tehran have not engaged in high level direct talks since the 2015 signing of a landmark nuclear deal under the Obama administration, which Trump ditched three years later..
