Lenovo, a Chinese PC maker, has expressed optimism over the US-China tariff pause, stating it's a positive sign for the global economy. The company's CEO, Yuanqing Yang, said the temporary reduction in tariffs will help stabilize trade and investment. This development comes as the US and China are engaged in ongoing trade negotiations to resolve their differences.
Norway's minister for climate and the environment, Andreas Bjelland Eriksen, has expressed dissatisfaction with the current draft of a global plastics treaty, stating it is "unacceptable" and that Norway will not leave Geneva without a comprehensive approach. The High Ambition Coalition, led by Norway, aims to reduce plastic production, while countries like Mexico and Switzerland push for stronger provisions on sustainable production and consumption. Negotiations between 184 countries and over 600 organizations are ongoing, with some nations, including Fiji, calling for a formal treaty, while others, such as Ethiopia, suggest revisiting the talks if key articles on financing and lifecycle plastics cannot be agreed upon.
Russia and several Sahel states are holding consultations to discuss defense cooperation, led by Defense Minister Andrei Belousov and his Malian counterpart Sadio Camara. The talks aim to replace a Western-led alliance, with defense being the primary area of cooperation between the two parties.
Norwegian Secretary General Jens Stoltenberg revealed that US President Donald Trump brought up the Nobel Peace Prize during a phone call with him, but declined to disclose further details. The conversation was part of a broader discussion on trade tariffs and economic cooperation between Norway and the US. Stoltenberg also mentioned that several White House officials, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, were present during the call.
President Donald Trump is seeking concessions from China in exchange for easing restrictions on US technology exports, particularly AI chips, as part of a potential trade deal. The move comes after Trump's administration made significant concessions on AI chips to secure a meeting with Chinese President Xi Jinping.
US President Donald Trump has announced a deal allowing American chip designers AMD and Nvidia to export advanced chips to China in exchange for a 15% cut of the sales revenue, which analysts warn could lead to conflicts of interest and create a "pay-to-play" foreign trade policy. The US Treasury Secretary Scott Bessent suggests this model could be applied to other industries, raising concerns about American investors and exporters' ability to do business in China's large economy.
US President Donald Trump's call with Ukrainian President Volodymyr Zelenskyy and European leaders has raised hopes for a Ukraine peace deal, as Mr. Trump's interventions were seen as creating a 'viable' chance of a ceasefire. The meeting comes ahead of a US-Russia summit in Alaska, where concerns remain about potential proposals to cede Ukrainian territory to Russia.
US President Donald Trump's plan to charge companies 15% of their revenues from Chinese AI chip sales may provide a path for US companies to enter the Chinese market despite severe export controls and tariffs. The deal, struck with Nvidia Corp. and Advanced Micro Devices Inc., has raised concerns among experts that the US government will find new ways to charge companies for business activities with other countries. Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics, described the plan as "truly bizarre" and warned of its potential expansion.
US President Donald Trump's tariffs have led to an average effective rate of 18.6%, the highest since 1933, but many economists believe the global economy has avoided a trade shock. The International Monetary Fund upgraded its global growth forecasts due to reduced concerns about damage from Trump's tariff blitz. A recent survey by Bank of America found investors were more bullish than in April, with only 5% expecting a "hard landing" for the global economy, compared to 49% previously.