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: 2025.05.29
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US suspends exports of jet engine technology and chip software to China - New York Times
World FX news
Breaking news
US suspends exports of jet engine technology and chip software to China - New York Times
New
2025.05.29 08:34
2025.05.29 08:34
2025.05.29 08:34
The US President Donald Trump's administration has paused some sales to China of critical US technologies, including those related to jet engines, semiconductors, and certain chemicals., per New York Times.
According to two people familiar with the matter, this action is a response to China's recent restrictions on exports of critical minerals to the US, a decision by Beijing that has threatened to cripple US company supply chains.
Market reaction
The US Dollar Index (DXY) is trading 0.19% higher on the day at 100.08, as of writing.
US-China Trade War FAQs
Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living.
An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China's economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies.
The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.
Last updated
: 2025.05.29
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AUD/JPY drops to near 92.50 following Tokyo's inflation, Aussie Retail Sales data
AUD/JPY extends its losses for the second successive day, trading around 92.50 during the Asian hours on Friday. The currency cross depreciates nearly 0.50% as the Japanese Yen (JPY) gains ground against its peers after Tokyo's core inflation came in stronger than expected.
New
2025.05.30 15:42EUR/GBP holds losses near 0.8400 following German Retail Sales, eyes on CPI data
EUR/GBP edges lower after registering more than 0.50% gains in the previous session, trading around 0.8420 during the Asian hours on Friday. The currency cross holds losses following the release of Germany's Retail Sales data.
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Retail Sales in Germany unexpectedly declined 1.1% month-over-month (MoM) in April, following the 0.9% revised growth (from -0.2%) reported in March, according to official data released by Destatis on Friday.
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2025.05.30 15:00EUR/JPY Price Forecast: Bullish tone remains in play above 163.00
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2025.05.30 14:13GBP/USD price Forecast: Trade below 1.3500; bullish bias remains ahead of US PCE data
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Gold price (XAU/USD) struggles to capitalize on the previous day's strong recovery move from the $3,246-3,245 region, or over a one-week low, and attracts fresh sellers during the Asian session on Friday.
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2025.05.30 13:35Disclaimer:
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