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View all search resultsNike said it would cut its reliance on production in China for the United States market to mitigate the impact from US tariffs on imports, and forecast a smaller-than-expected drop in first-quarter revenue, sending its shares up 11 percent in extended trading.
The US Department of Commerce is considering revoking authorizations granted in recent years to global chipmakers Samsung, SK Hynix and TSMC, making it more difficult for them to receive US goods and technology at their plants in China, according to people familiar with the matter.
US President Donald Trump said on Friday that Chinese President Xi Jinping agreed to let rare earth minerals and magnets flow to the United States, a move that could lower tensions between the world's biggest economies.
The pessimistic scenario is that the first quarter was bad but that things will only get harder from now on, given the uncertainty ahead. The optimistic view is that, while global factors are largely out of our control, there are steps we can take at home to prepare our country.
Investors are hopeful that US-China trade talks this weekend will cool a trade war between the world's two largest economies and dispel some of the uncertainty clouding financial markets, though few expect a major breakthrough just yet.
US President Donald Trump asserted in an interview published on Friday that tariff negotiations were under way with China, but Beijing denied any talks were taking place, the latest in a series of conflicting signals over what progress was being made to de-escalate a trade war threatening to sap global growth.
China on Monday warned countries against striking a broader economic deal with the United States at its expense, ratcheting up its rhetoric in a spiraling trade war between the world's two biggest economies.
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