Canada Retaliatory Tariffs on U.S. Goods Take Effect 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
China Buys 1 Million Tons of U.S. Soybeans Ahead of Xi Visit 
Gold Prices Steady Ahead of U.S. Inflation Data and Fed Decision 
Asian Stocks Mixed as Korean Chipmakers Rally 
South Korea GDP Surges on Chip and AI Boom 
Oil Prices Hold Near Highs as U.S.-Iran Conflict Escalates 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
Asian Stocks Fall as Oil Tops $100, Yields Rise 
ECB Rate Hike in Focus as Oil Tops $100 
Fitch Eyes Japan Budget for Fiscal Discipline 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
German Inflation Accelerates to 2.9% in August 
Asian Currencies Steady as Yen Holds Firm, Oil Tops $100 
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Xi Jinping Congratulates Trump on 2024 Election Win
Chinese President Xi Jinping extended congratulations to Donald Trump following his victory in the 2024 U.S. presidential election, according to a report from Chinese state media Xinhua.
Diplomatic Communication Between Xi and Trump
A Chinese foreign ministry spokesperson had offered similar congratulations on Wednesday. Reports from CNN also indicated that Xi and Trump held a phone conversation, where the Chinese leader emphasized the importance of strengthening communication between the two nations.
Calls for US-China Cooperation Amid Tensions
In his statement, Xi highlighted the need for a new era of cooperation between China and the United States. He stressed the importance of managing differences appropriately while fostering mutual collaboration on various global issues.
Potential Trade War Concerns
Despite Xi’s conciliatory message, Trump’s campaign rhetoric raised concerns about future trade relations. Trump had threatened to impose tariffs of up to 60% on Chinese imports, a move that could reignite a trade war between the world’s largest economies.
