Trade War News Updates

The Chinese Ministry of Commerce issued a statement June 2 rebuking the U.S. president’s claim that Beijing breached the consensus reached in Geneva in May.

Canadian Pacific Kansas City cut its financial outlook for this year due to the uncertainty caused by the U.S. administration’s tariff and trade policy.

Populist Conservative leader Pierre Poilievre — in the lead until U.S. President Donald Trump took aim at Canada with a trade war and annexation threats — was voted out of his Parliament seat.

The world economy is at a “pivotal juncture” as trade tensions flare, members of the IMF said in a draft statement after discussions that have been overshadowed by the trade war.

Treasury Secretary Scott Bessent said that the Trump administration is looking at multiple factors regarding China beyond just tariffs — including non-tariff barriers.

But in a private speech in Washington for JPMorgan Chase, Treasury Secretary Scott Bessent also cautioned that talks between the United States and China had yet to formally start.

China’s government has renewed export registrations for some U.S. meat plants whose eligibility was set to lapse, raising hopes that shipments won’t be disrupted.

Global oil demand is under pressure from the escalating trade war at the same time that OPEC+ is reviving output, threatening to deepen a supply surplus, the International Energy Agency said.

China will halve tariffs on some $75 billion of imports from the United States later this month, reciprocating a U.S. action and likely satisfying part of the interim trade deal.

Deere & Co. cut its profit expectations for the year as beleaguered farmers and an escalating trade war with China cut into sales.