News

China to US: 'Market has spoken' after tariffs spur selloff

BEIJING (Reuters) -China said on Saturday "the market has spoken" in rejecting U.S. President Donald Trump's tariffs, and called on Washington for "equal-footed consultation" after global markets plunged in reaction to the trade levies that drew Chinese retaliation. State-run Xinhua news agency also published the Chinese government's stance, saying the U.S. should "stop using tariffs as a weapon to suppress China's economy and trade". Trump introduced additional 34% tariffs on Chinese goods as part of steep levies imposed on most U.S. trade partners, bringing the total duties on China this year to 54%.

Oil Price in Freefall Reorders Global Energy Landscape

(Bloomberg) -- The plunge in oil prices over the past two days following the twin shocks of President Donald Trump’s tariffs and the surprise boost in production from OPEC+ has altered the global energy landscape with stunning speed.Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersThis Skinny Mexico City Tower Is Just 14 Feet Wide on One SideLocal Governments Vie for Fired Federal WorkersBoston Mayor Wu Embraces Trump Resistance as Campaign Heats UpMetro-North Is Faster