Chinese President Xi Jinping promised on Tuesday to open the country’s economy further and lower import tariffs on products like cars, in a speech seen as an attempt to defuse an escalating trade dispute with the United States.
While much of his pledges were reiterations of previously announced reforms that foreign businesses say are long overdue, Xi’s comments sent stock markets and the U.S. dollar higher on hopes of a compromise that could avert a trade war.
Xi said China will widen market access for foreign investors, addressing a chief complaint of its trading partners and a point of contention for U.S. President Donald Trump’s administration, which has threatened billions of dollars in tariffs on Chinese goods.
Amid the COVID-19 coronavirus crisis, weekly unemployment claims just once again reached a shocking new high.
The...
U.S. markets plunged deep in the red Friday morning, interrupting a stellar three-day run and offering...
President Trump on Friday signed a bipartisan $2 trillion economic relief package aimed at helping American...
Americans displaced by the coronavirus crisis filed unemployment claims in record numbers last week, with the...
