Trade War: China said – evaluating America’s proposals related to tariffs, global stock markets are rising
New Delhi| China is considering US proposals on tariffs. Beijing’s Commerce Ministry has said this. After this announcement, there was a rise in global markets on Friday. Futures for the S&P 500 rose 0.5% after China announced. The Dow Jones Industrial Average also showed an increase of 0.6%. Germany’s DAX rose 1.5% to 22,831.50 and Paris’ CAC 40 rose 1.3% to 7,695.70. The British FTSE 100 rose by 0.7% to 8,558.56.
In Asian business, Hong Kong’s Hang Seng rose 1.7% to 22,504.68, while markets in Shanghai were closed due to a public holiday. Taiwan’s benchmark jumped 2.7%. An unnamed spokesperson for the Chinese Ministry of Commerce said Beijing had taken note of various statements by senior U.S. officials indicating a willingness to negotiate tariffs. “The United States has recently taken the initiative to provide information to the Chinese side through relevant parties on several occasions”, Beijing said in its statement. This is expected to lead to talks. In this regard, China is assessing.”
After this announcement by China, Tokyo’s Nikkei 225 rose by 1% to 36,830.69. The country’s more than $1.1 trillion U.S. Treasury bonds could potentially prove a “card on table” in talks with Washington over heavy tariffs imposed on automobiles and other imports from Trump, according to Japanese Finance Minister Katsunobu Kato. In Asian markets, South Korea’s Kospi closed 0.1% higher at 2,558.84 and Australia’s S&P/ASX 200 closed 1.1% higher at 8,238.00.
In the US market on Thursday, Microsoft and Meta platforms played a key role in moving Wall Street up. They reported even higher gains than analysts had expected earlier in the year. The S&P 500 grew by 0.6% for the eighth consecutive time, its longest streak of gains since August. The Dow Jones Industrial Average grew by 0.2% and the Nasdaq Composite grew by 1.5%.
Microsoft shares rose 7.6%. The software giant said its total revenue grew 13% from a year ago due to the strength of the cloud computing and artificial intelligence business. Facebook and Instagram parent company Meta also reported rising revenues and profits in the latest quarter. According to the company AI tools helped increase its advertising revenue. Its shares appeared to carobber up 4.2%. However, there is still uncertainty in the entire world market about whether President Donald Trump’s trade war will push the economy towards recession or not.
