Electron Native

China says existing U.S. tariffs must be removed for a trade deal Trade China’s commerce ministry says on Thursday that existing U.S. tariffs will have to be removed if there is to be a trade deal between Beijing and Washington. The leaders of the two countries agreed last weekend to relaunch trade talks. The talks that was stalled in May after U.S. officials accused China of pulling back from commitments made in the text of a pact negotiators had said was nearly finished. Trade teams from both countries are in contact, commerce ministry spokesman Gao Feng told a regular media briefing. To get talks restarted, U.S. President Donald Trump had agreed not to put tariffs on about $300 billion in additional Chinese imports and ease curbs on Chinese tech giant Huawei. The United States now has tariffs of 25% on $250 billion of Chinese goods, ranging from furniture to semiconductors. China welcomes the U.S. decision not to slap new tariffs on its goods, Gao ...

Gold prices rose on Friday as investors sought safer assets after U.S. President Donald Trump proposed 100 billion dollars in new tariffs on China, raising concerns about an escalating trade spat between the United States and China. Spot gold was 0.4 per cent higher at 1,330.78 dollars per ounce as of 0032 GMT, and the U.S. gold futures rose 0.4 per cent to 1,334.10 dollars an ounce. Spot gold on Thursday dropped to a one-week low of 1,322.40 dollars an ounce after the United States and China signalled willingness to negotiate a trade dispute. However, President Donald Trump late on Thursday said he had instructed U.S. trade officials to consider $100 billion in additional tariffs on China, fuelling an already heated trade dispute between the world’s two biggest economies. U.S. stock markets slid and the yen rose against the dollar on Friday. Gold-backed exchange traded funds in North America saw inflows in March, amid market volatility and as trade tensions between the United ...