- Tag results for US-China trade war
Despite the frank airing of differences at the meeting in Washington of the two nations' top diplomats and military chiefs, both sides stressed the need to tamp down tensions
Secretary of State Mike Pompeo, US Defence Secretary James Mattis and Chinese Minister of National Defence Wei Fenghe were also present at the press conference.
Xi, who has voiced his support for private firms multiple times this year, made several policy suggestions, including lowering corporate taxes and resolving funding challenges faced by companies.
But Mnuchin told reporters on the Indonesian resort island that President Donald Trump's drive to punish China with tariffs to encourage it to adopt fairer trade practices would have the opposite affe
IMF Managing Director Christine Lagarde on Thursday confirmed that Pakistan has formally approached the funding organisation seeking financial assistance to address its economic challenges.
The fear is that the China-US trade row could upend global supply chains, and chill international trade and investment - a risk underscored by Widodo.
The cut will enable banks in China to release 1.2 trillion-yuan cash for additional lending.
US Defence Secretary Jim Mattis too was due to visit but it was cancelled which China said was at the behest of Washington.
An official said he is optimistic there is a positive way forward with China on trade, but that Trump has made clear US resolve to stand up to trade practices that hurt the US economy.
The move is in contravention of a sweeping US sanctions bill signed in 2017.
The global lender is still assessing the impact of the duties imposed so far but the economic costs 'will quickly add up,' IMF spokesman Gerry Rice told reporters.
That would mean no easing of tensions between the world's top two economies for many years after President Donald Trump has left office, even if he serves a second term, the CNN reported.
The increases are in response to the announcing it will impose tariffs on $200 billion worth of Chinese-made goods starting next week.
The domestic currency after remaining range-bound was quoting lower by 27 paise at 72.78 (intra-day) against the US dollar in late afternoon trade.
MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.15 per cent in early trade but Japan's Nikkei bucked the trend to gain 0.4 per cent.