RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
U.S. May Withhold $30.4 Million From Minnesota Over Improper Commercial Driver Licenses 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Oil Prices Rise as Geopolitical Tensions and Supply Risks Intensify 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Tech Stocks Lift S&P 500 as Fed Rate-Cut Expectations Rise 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Dollar Slips as Weak U.S. Manufacturing Data Increases Pressure for Fed Rate Cuts 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
South Korea Inflation Edges Up in November as Food and Service Costs Climb 
U.S. Soybean Shipments to China Gain Momentum as Trade Tensions Ease 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
China Urges Pragmatic U.S. Relations as Trump Returns to Office
China has officially congratulated Donald Trump on his election victory, with a Chinese foreign ministry spokesperson stating, “We respect the choice of the American people and congratulate Mr. Trump.” As Trump prepares to take office in January, China is urging a “pragmatic” approach to U.S.-China relations amid rising tensions.
Reviving Bilateral Issues from Trump's First Term
Trump’s second term raises concerns for China, particularly due to his commitment to imposing tariffs on Chinese imports. His previous presidency from 2017 to 2021 saw the initiation of a trade war and tariffs on Chinese goods, impacting both economies. The Chinese state newspaper, China Daily, highlighted that Trump’s return could be a “new beginning” for relations if managed carefully.
Economic Vulnerabilities and Tariff Concerns
Under the current administration, tariffs on Chinese goods remain high, with duties on key Chinese imports, including a recent 100% tariff on electric vehicles and a 25% duty on steel and other key materials. Trump’s proposal to implement a 60% tariff on Chinese imports poses significant risks to China's already struggling economy, burdened by a real estate downturn and government debt issues.
Navigating Future Challenges with Dialogue
In a recent editorial, China Daily emphasized that resolving differences through dialogue would serve both nations’ interests, bringing stability to global markets. The newspaper stated that the U.S.-China relationship, “the world’s most important bilateral relationship,” is vital for global stability.
