US EditionAsia Markets Trade Mixed as U.S. Tariff Truce with China Hangs in the Balance
UNITED STATES, JUL 29 – The tariff truce extension requires President Trump's approval as U.S.-China trade talks continue separately, impacting Asia-Pacific markets with mixed trading results Wednesday.
- On Wednesday, Asia-Pacific markets traded mixed after U.S.-China talks in Sweden ended without a tariff truce extension, and major U.S. benchmarks fell.
- U.S. negotiators said any tariff pause hinges on President Donald Trump’s sign-off, and they will consult him on any extension, as of Tuesday.
- Asia-Pacific markets closed with wide dispersion, with the Nikkei flat, Topix up 0.4%, S&P/ASX 200 up 0.6%, Kospi up 0.74%, and Hoffmann-Burchardi warned tariffs still create headwinds.
- Treasury Secretary Scott Bessent told CNBC the president `has the last word` on trade agreements and tariffs.
- With a looming Friday deadline, Lutnick said trade negotiations with China are progressing on a separate timeline, affirming the deadline will not be delayed.
14 Articles
14 Articles
China awaits US sign-off on 90-day truce extension
An extension of the Washington-Beijing tariff detente remains subject to US President Donald Trump’s approval, one of several deals which are in limbo. Chinese negotiators earlier said the two sides agreed to a 90-day extension of their truce, but Washington said it hadn’t yet “given the sign off.” With a tariff reprieve expiring Friday, details over a US-European Union agreement have also been disputed, tariffs on India remain unclear, and Afri…
Trump and Xi fail to extend their economic truce
The United States and China have concluded two days of trade negotiations in Stockholm without reaching an agreement to extend the truce in their ongoing trade war. Shortly after the talks ended, US Treasury Secretary Scott Bessent, who led the American delegation, told reporters that any decision to extend the current August 12 deadline – at which point tariffs would revert to 34 percent – rests solely with President Trump. A meeting between Tr…
NBC Chicago
Asia markets trade mixed as U.S. tariff truce with China hangs in the balance
U.S. Commerce Secretary Howard Lutnick said that trade negotiations with China are progressing on a separate timeline, he told CNBC’s “Squawk Box.”
Trump to Decide China Tariff Truce Extension After Trade Talks Conclude
President Donald Trump will decide whether to extend the U.S.–China tariff truce after trade talks conclude in Stockholm. U.S. and Chinese officials wrapped up two days of talks in Stockholm on July 29, with the two largest economies seeking to deescalate trade tensions. China’s top trade negotiator, Li Chenggang, told reporters that the two sides agreed to extend the tariff pause beyond the Aug. 12 deadline following “comprehensive and in-depth…
On Wednesday (July 30), U.S. President Donald Trump said that negotiations on a tariff agreement with China were "progressing smoothly" and the two sides would reach a "fair" trade agreement, but did not provide details of the agreement.
Asian stock markets rise slightly amid cautious trading
Asian stock markets rose slightly on Wednesday, but trading was cautious as investors awaited news about trade talks between the United States and several Asian countries on tariffs. The MSCI Asia-Pacific index was up about 0.3 percent in the morning. Share prices in Japan, Shanghai, Australia and South Korea rose in the range of 0.1 to 1.2 percent, while India and Hong Kong recorded slight declines of between 0.1 and 0.4 percent. Two-day talks …
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