Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019.Aly Song | ReutersBEIJING — China “firmly rejects” additional U.S. tariffs on Chinese goods and will take countermeasures, the Ministry of Commerce said in a statement Tuesday.The duties will “hurt” U.S.-China trade relations and China urges the U.S. to withdraw them, the ministry said in Chinese, translated by CNBC. Beijing has previously warned of countermeasures, but has yet to detail any.After the first round of new U.S. tariffs in February, China’s retaliatory measures included raising duties on certain…
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The S&P 500 had its worst day since December as President Trump confirmed his tariffs would proceed. Here’s what’s on CNBC’s radar going into Tuesday. Source link
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailFast MoneyCNBC’s MacKenzie Sigalos joins ‘Fast Money’ to talk the response to President Trump seeking out a strategic crypto reserve.02:412 hours agoMacKenzie Sigalos Source link
China World Trade Center.Dukai Photographer | Moment Open | Getty ImagesAsia-Pacific markets mostly fell Tuesday, tracking Wall Street declines overnight after U.S. President Donald Trump made it clear that tariffs on Mexico and Canada would go into effect as planned.Japan’s benchmark Nikkei 225 index fell nearly 1.6%, while the broader Topix index was down 0.8%. Japan’s employment rate for January came in at 2.5%, slightly higher than Reuters’ estimates of 2.4%.South Korea’s Kospi index was up 0.1% in choppy trade, while the small-cap Kosdaq fell 1.1% at the start of the day.The country’s retail sales for January fell 0.6% from the previous month. Revised estimates…
U.S. President Donald Trump meets with Ukrainian President Volodymyr Zelenskyy at the White House in Washington, D.C., U.S., Feb. 28, 2025. Brian Snyder | ReutersU.S. President Donald Trump has paused all military aid to Ukraine following his clash with Ukrainian President Volodymyr Zelenskiy last week, a White House official said on Monday.”President has been clear that he is focused on peace. We need our partners to be committed to that goal as well. We are pausing and reviewing our aid to ensure that it is contributing to a solution,” said the official, speaking on the condition of anonymity.Zelenskiy’s office did not…
Trump is set to impose sweeping tariffsPresident Trump’s threats to impose stiff tariffs on goods imported from Canada, Mexico and China are expected to become a reality today. Trump said yesterday that there was no chance for a deal to avert them. Company executives and foreign officials scrambled to prepare.The tariffs will add a 25 percent fee on all Mexican and Canadian exports coming across those borders and an additional 10 percent for Chinese goods. Canada was poised to retaliate, potentially setting off a trade war, and Mexico’s president, Claudia Sheinbaum, said: “Whatever the decision is, we will also make…
CBOE Global Markets’ Mandy Xu warns the stock market is underpricing tariff risks — even after Monday’s sharp sell-off. Xu contends the bond market has been more sensitive to economic uncertainty than stocks over the past few months. But now, that gap may be starting to close. “There’s scope for it [volatility] to go even higher because the way the options market is still pricing tariffs is as a stock-specific catalyst, not as a macro catalyst,” the firm’s head of derivatives market intelligence said on CNBC’s ” Fast Money .” According to Xu, the stock market is still trying to…
Nvidia CEO Jensen Huang gives a keynote address at CES 2025, an annual consumer electronics trade show, in Las Vegas, Nevada, U.S. Jan. 6, 2025. Steve Marcus | ReutersAlarm bells went off in 2024 when Singapore unexpectedly emerged as Nvidia’s second-largest revenue source. The disclosure fueled widespread speculation that Nvidia’s artificial intelligence chips were being channeled to China.Those concerns intensified in January after China’s DeepSeek burst onto the international AI scene due to the sophistication and reported cost-effectiveness of its model. DeepSeek’s AI is trained on Nvidia’s graphics processing units despite export restrictions designed to keep the technology out of China.Singapore…
Anne Wojcicki, co-founder and chief executive officer of 23andme Inc., during the South by Southwest (SXSW) festival in Austin, Texas, US, on Friday, March 10, 2023. Jordan Vonderhaar | Bloomberg | Getty Images23andMe’s special committee of independent directors on Monday rejected CEO Anne Wojcicki’s proposal to take the distressed genetic testing company private.Wojcicki submitted a proposal to the committee on Sunday, offering to acquire all of the company’s outstanding shares for 41 cents each, according to a filing with the U.S. Securities and Exchange Commission.The stock plunged 33% on Monday to close at $1.47, down more than 99% from its peak…
The Huawei booth at the Mobile World Congress in Barcelona, 2025.Arjun Kharpal | CNBCBARCELONA — Huawei is dipping its toes back into the international smartphone market, but analysts warn the lingering effects of U.S. sanctions is likely to hamper the Chinese company’s ability to compete with leaders Apple and Samsung.Over the past few months, Huawei has launched two key devices outside of China. The first in December was the Mate X6, a foldable smartphone, followed by the Mate XT, Huawei’s 3,499 euros ($3,660) trifold phone.Huawei was looking to stand out from the crowd of similar-looking smartphones at the Mobile World…
