Completion of the Phase 1 U.S.-China trade deal and a new North American trade agreement will boost the U.S. gross domestic product (GDP) by a combined 50 to 75 basis points, U.S. Treasury Secretary Steven Mnuchin told Fox News on Wednesday.
China has agreed to buy two types of rare earth metals from the United States as part of an initial trade deal inked on Wednesday, a move likely to boost U.S. production of the strategic minerals.
The United States and China signed an initial trade deal on Wednesday that will roll back some tariffs and boost Chinese purchases of U.S. products, defusing an 18-month row between the world's two largest economies but leaving a number of sore spots unresolved.
The U.S.-China Phase 1 trade deal's dispute settlement and enforcement mechanism will take about 90 days to complete and is designed to deter retaliation against any punitive tariffs imposed, a senior Trump administration official said on Wednesday.
Key world equity indexes climbed to new records on Wednesday on hopes a U.S.-China trade deal will reduce harmful tensions, but oil prices slid on doubts the pact will spur world growth and boost crude demand.
Chinese Vice Premier Liu He said China will use the results of the Phase 1 trade deal with the United States to prove that the negotiations are working to improve the economy, Chinese state television reported on Thursday.
U.S. stocks pared gains but held near record highs hit early on Wednesday, as the United States and China signed a long-awaited Phase 1 trade deal that will roll back some tariffs and boost Chinese purchases of U.S. goods and services.
A group of U.S. states suing to block T-Mobile US Inc from merging with Sprint Corp on Wednesday told a federal judge that the deal would raise prices for consumers, while the phone companies pushed back and emphasized they would compete aggressively to push prices down.
The Dow ended above 29,000 for the first time on Wednesday and the S&P 500 also closed at a record high after the United States and China signed a Phase 1 trade agreement and pledged to resolve a tariff dispute that has roiled Wall Street for over a year.
A funny thing happened on the way to the U.S.-China trade deal signing: President Donald Trump may have tipped his next pick for head of the Federal Reserve -- if he gets the chance.
U.S. stocks climbed but were off earlier intraday records on Wednesday after the United States and China signed a Phase 1 trade agreement and pledged to resolve a tariff dispute that has roiled financial markets for over a year.
South African telecoms company Telkom SA told unions on Wednesday it could cut up to 3,000 of more than 15,000 staff as it struggles with declining performance in fixed voice and fixed data services.
Airbus sees enough demand for its wide-bodied A330neo passenger jet to keep production stable, Chief Commercial Officer Christian Scherer told Reuters on Wednesday.
China's pledge to buy U.S. farm goods based on "market conditions" during the Phase 1 trade deal signing ceremony on Wednesday added to doubts among farmers and commodity traders over the lingering tariffs on U.S. exports.
Oil prices were down slightly on Wednesday, pressured early by data showing big increases in U.S. refined products but recovered some of the losses later by the signing of a Phase 1 trade deal between Washington and Beijing.