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: 2025.09.02
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China's Xi: We are willing to keep close high-level exchanges with Russia
World FX news
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China's Xi: We are willing to keep close high-level exchanges with Russia
New
2025.09.02 15:56
2025.09.02 15:56
2025.09.02 15:56
Chinese leader Xi Jinping welcomed Russian President Vladimir Putin as an "old friend" as the two began bilateral talks in Beijing, Bloomberg reported on Tuesday.
Putin addressed Xi as "dear friend" and said that Russia's ties with China are "at an unprecedentedly high level." A series of meetings came at a time when their countries faced both overlapping and differing challenges from the United States.
Key quotes
Should coordinate positions on core issues.
China is willing to keep close high-level exchanges with/Russia.
Two countries have signed over 20 cooperation documents.
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
: 2025.09.02
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USD/CAD rebounds toward 1.3800 as US Dollar firms, PMIs data in focus
The Canadian Dollar (CAD) loses ground for the second straight day on Tuesday, with USD/CAD rebounding from near four-week lows as the US Dollar (USD) strengthens broadly.
New
2025.09.02 22:09Gold retreats from record $3,508 as US Dollar and yields rebound
Gold (XAU/USD) retreats on Tuesday after briefly surging to a fresh all-time high of $3,508 per ounce during the Asian session as a rebound in the US Dollar (USD) and Treasury yields triggered mild profit-taking.
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2025.09.02 21:25JPY underperforming most G10 currencies - Scotiabank
The Japanese Yen (JPY) is weak, down 0.9% against the US Dollar (USD) and underperforming all of its G10 peers with the exception of GBP, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
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2025.09.02 21:12The upswing in the metal markets is likely to subside again - Commerzbank
With the exception of aluminum, base metal prices have risen in recent days, Commerzbank's commodity analyst Barbara Lambrecht notes.
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2025.09.02 21:10GBP weak and underperforming G10 - Scotiabank
The Pound Sterling (GBP) is underperforming all of the G10 currencies with a 1.1% decline against the US Dollar (USD), weakening in response to renewed fiscal concerns that have driven UK yields to fresh multi-decade highs, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
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2025.09.02 21:07Silver price rises to 14-year high - Commerzbank
The Silver price jumped above the USD 40 per troy ounce mark for the first time in 14 years at the beginning of the week, buoyed by the rise in the Gold price, Commerzbank's commodity analyst Carsten Fritsch notes.
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2025.09.02 20:38AUD/USD slumps to near 0.6500 as US Dollar snaps five-day losing streak
The AUD/USD pair is down 0.7% to near 0.6500 during the late European trading session on Tuesday.
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2025.09.02 20:37EUR a mid-performer but still weak vs. USD - Scotiabank
The Euro (EUR) is down 0.6% against the US Dollar (USD) and a mid-performer among the G10 as we head into Tuesday's NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
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2025.09.02 20:35Europe's Gas storage facilities are filling up - Scotiabank
Europe's Gas storage facilities are filling up: they are now more than 77% full, reducing the gap to the usual filling level (based on the 5-year average) to 8.4 percentage points, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
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2025.09.02 20:33CAD softer versus USD but pick up on the crosses - Scotiabank
The Canadian Dollar (CAD) is softer against the generally stronger US Dollar (USD) on the session but losses are relatively limited, leaving the CAD the top-performer after the big dollar among G10 currencies, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
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2025.09.02 20:32Disclaimer:
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