China, Stockholm
Digest more
U.S., China to hold trade talks in Sweden
Digest more
China, Trump and tariff rate
Digest more
United Parcel Service reported a decline in second-quarter profit and revenue on Tuesday, as demand took a hit from new "de minimis" tariffs on low-value Chinese shipments and mounting risks from President Donald Trump's trade policies.
This might be a one-off after Apple reportedly shipped 600 tons of iPhones from India in April to avoid tariff threats, but a new report from Canalys tracks with Apple’s intention to move the totality of its US iPhone production to the country by the end of 2026.
They’re talking right now, but the decision-maker, of course, is President Trump,” Lutnick said of the state of negotiations with China.
President Trump and European Commission President Ursula von der Leyen announced Sunday that the US and EU had agreed to the framework of a trade deal that included a baseline tariff rate of 15% on EU goods imported into the US.
U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng were meeting at the offices of Sweden’s prime minister for two days of talks, which Bessent has said will likely lead to an extension of current tariff levels.
Trump is targeting China's transshipments through Southeast Asia. But can tariffs and trade agreements really curb China's regional exports?
The customized tariff rates were slated to take effect on April 9, but then got delayed 90 days and then postponed again until Aug. 1.