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US Treasury chief expects China tariff impasse to de-escalate
US Treasury chief expects China tariff impasse to de-escalate
by  AFP

The trade standoff between Washington and Beijing is not sustainable, US Treasury Scott Bessent said Tuesday, predicting the tit-for-tat tariff war would de-escalate soon. Bessent told the event Tuesday that he expects a de-escalation in the near future, according to a person who was in the room.

Volkswagen unveils its electric counter-offensive in China
Volkswagen unveils its electric counter-offensive in China
by  AFP

The Volkswagen group on Tuesday unveiled a series of new vehicles and a driver assistance system built "in China for China", which it hopes will help reverse its declining fortunes in the world's largest car market. Volkswagen also presented a new generation of driver assistance "specifically designed for the complex traffic conditions in China".

ECB's Lagarde hopes Trump won't fire US Fed chief Powell
ECB's Lagarde hopes Trump won't fire US Fed chief Powell
by  AFP

European Central Bank chief Christine Lagarde said Tuesday that she hoped US President Donald Trump would not oust the country's central bank boss Jerome Powell prematurely. "I hope that a trade deal will be something that can be considered by both partners, the United States and China," Lagarde said Tuesday.

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