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China and Hong Kong stocks closed higher, with the CSI300 Index up 0.5% and the Hang Seng rising 0.9%, driven by gains in non-ferrous metals. Investors remain cautious ahead of U.S. tariff developments, while concerns about U.S.-China tensions could impact growth, prompting expectations for increased stimulus measures from Beijing.
China and Hong Kong stocks remained steady as investors monitored the impending U.S. tariff announcements, with the CSI300 Index up 0.2% and the Shanghai Composite down 0.3%. Concerns over U.S.-China trade tensions could impact growth, prompting expectations for increased stimulus measures from Beijing. Meanwhile, non-ferrous metals shares rose 1.5%, while property stocks fell 1.1%.
Chinese Premier Li Qiang urged for dialogue over confrontation during a meeting with U.S. Senator Steve Daines, emphasizing the need for cooperation amid rising tensions over trade tariffs and fentanyl trafficking. Daines, a supporter of President Trump, is the first U.S. lawmaker to visit Beijing since Trump took office, and he coordinated closely with the White House on these issues. Li highlighted the importance of fair competition and the necessity for both nations to work together to ensure stable relations.
U.S. Senator Steve Daines met with Chinese Vice Premier He Lifeng in Beijing, marking the first congressional visit since Trump took office. Daines emphasized the need for constructive dialogue on trade and fentanyl issues, while He expressed China's willingness to engage in candid discussions based on mutual respect. Tensions between the U.S. and China have escalated due to tariffs and fentanyl trade concerns, with both sides acknowledging the importance of cooperation.
Elon Musk's recent Pentagon visit has raised concerns over potential conflicts of interest due to his significant business ties with China, particularly through Tesla. While the Trump administration denied reports that Musk was briefed on top-secret military plans regarding China, his influence within the administration and his role in government layoffs have sparked debate about his dual interests. Critics argue that Musk's business dealings could compromise U.S. national security, especially as he advocates against decoupling U.S.-China technology relations.
Trade tensions escalate as China imposes retaliatory tariffs on US agricultural goods, following President Trump's recent tariff hikes. The measures, affecting products like chicken, wheat, and soybeans, aim to impact Trump's voter base while allowing room for potential negotiations. As China's economy faces challenges, including sluggish consumer spending and high youth unemployment, officials set a growth target of around five percent for the year, despite concerns over the ambitious nature of this goal.
Trade tensions escalate as China's tariffs on US agricultural goods take effect in response to President Trump's recent tariff hikes. The new levies, ranging from 10 to 15 percent, target products like chicken, wheat, and soybeans, aiming to impact Trump's voter base while allowing room for negotiations. As China's economy faces challenges, including sluggish consumer spending and high youth unemployment, officials set a growth target of around five percent for the year, despite concerns over the effectiveness of fiscal support amid ongoing trade disputes.
Elon Musk's close ties to Donald Trump may hinder Tesla's efforts to launch its full self-driving technology in China, as Chinese officials consider using the approval as leverage in trade negotiations. Despite Musk's popularity in China, Tesla faces fierce competition and regulatory challenges, complicating its market position. The delay in FSD approval could impact Tesla's revenue in a market where rivals like BYD are rapidly advancing their technology.
Chinese Premier Li Qiang has committed to taking all necessary measures to enhance domestic consumption to support economic growth. During a meeting with leaders from ten international economic organizations, he emphasized the importance of strengthening countercyclical measures and implementing macroeconomic policies to stabilize the economy.
Elon Musk has become a key player in the Trump 2.0 administration, leveraging his wealth and influence to push for significant government reforms through the newly established Department of Government Efficiency (DOGE). His agenda includes cutting environmental regulations that impact his companies, raising concerns about potential conflicts of interest as his firms face multiple federal investigations. As Musk navigates this political landscape, he aims to reshape government operations while balancing his outsider status within Trump's inner circle.
Li Qiang
People
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