President Donald Trump said Thursday that the U.S. and China are working to secure a new location for a signing ceremony of a partial trade deal. Trump added that he and Chinese President Xi Jinping will participate and that the site will be announced soon.
The two leaders were set to ink the so-called "phase one" trade agreement at the Asia-Pacific Economic Cooperation (APEC) summit in Chile next month. The summit, however, was canceled Wednesday due to civil unrest in Santiago, Chile's capital. Both China and the U.S. have since sought to quell lingering doubt and reassure skeptics that a deal is coming.
China's Ministry of Commerce said Thursday that negotiators "have maintained close contact and are making smooth progress," state media reported.
Earlier this month, Trump announced that negotiators had agreed upon a "phase one" deal, which included pacts on agricultural purchases, monetary policy, and intellectual property. Trump added Thursday that the partial agreement made up roughly 60 percent of a total deal.
Yet doubt was cast on the momentum Thursday after Bloomberg reported that Beijing remains wary of signing even a limited deal with the Trump administration. Citing anonymous sources, the report said that top officials have warned China "won't budge on the thorniest issues."
On Wednesday, however, China's Foreign Ministry said that trade talks will continue at a "fast pace" despite the canceled APEC.
"It is China's hope that the two sides can find a way to resolve the economic and trade issues on the basis of mutual respect, equality, and mutual benefit," said Foreign Ministry Spokesperson Geng Shuang.
China's Ministry of Commerce also said Thursday that the chief trade negotiators from the U.S. and China will speak by phone on Friday. The Office of the U.S. Trade Representative did not immediately respond to a request for confirmation.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
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