Beijing floods kill 30
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US, China tariff truce holds for now
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7hon MSN
By James Pomfret, Clare Jim and Davide Barbuscia HONG KONG/NEW YORK (Reuters) -The proposed inclusion of Chinese shipping giant COSCO in Hong Kong conglomerate CK Hutchison's contentious global ports sale is a potential win for Beijing in a strategic sector,
At least 30 people have been confirmed dead following severe rainstorms and flooding in Beijing, Chinese authorities have confirmed. The capital has been hit by several heavy rainstorms in recent days, prompting thousands to evacuate rural areas and causing widespread damage in the region.
President Trump has long complained about the trade deficit with China, which last year saw the US buy $295bn (£221bn) more goods from China than the other way round. US Trade Representative Jamieson Greer said the US was already on track to reduce that gap by $50bn this year.
The storms dropped more than 6 inches of rain on average across Beijing by midnight Tuesday, with two other towns recording as much as 21 inches.
A top Chinese official reiterated the country’s commitment to “healthy” development with American businesses during a meeting in Beijing with a delegation of executives from US companies, including Apple Inc.
As Washington tries to limit its progress, Beijing is spending more to build an artificial-intelligence ecosystem that doesn’t rely on U.S. technology.
After a “constructive” round of talks ahead of an Aug. 12 deadline, Treasury Secretary Scott Bessent said, “Nothing is agreed until we speak with President Trump.”