Trade war escalation won’t solve anything, China regulator says

Beijing: The US escalation of trade tensions won’t solve any of its problems but will create volatility in global markets and hurt the world economy, China’s top financial regulator said Saturday. Higher US tariffs will have a “very limited” impact on China’s economy while hurting the US about as much, said Xiao Yuanqi, spokesman for […]

Tariffs could fizzle fireworks, an American tradition that’s 95 per cent made in China

The escalating trade clash between the United States and China has sent thousands of US companies scrambling to determine whether they can import goods from other countries to escape higher tariffs. But when President Donald Trump threatened to tag large penalties on $300 billion in Chinese imports earlier this month, a sense of panic settled […]

Japan more downbeat on growth

TOKYO. Japan’s government downgraded its assessment of the economy on Friday but maintained the view it was recovering, suggesting that escalating US-China trade tensions have yet to hit growth enough to put off this year’s scheduled sales tax hike. The fallout from the trade war and slowing global demand have clouded the outlook for the […]

Turkey burns bridges with markets as costs of lira defence mount

Istanbul Turkey is paying the price for its pre-election efforts to tinker with the markets. As a controversial vote rerun looms, a barrage of interventionist policies by President Recep Tayyip Erdogan’s government has backfired, starving the economy of investment, fuelling demand for foreign currency among households and businesses and further undermining the lira. Despite repeated […]