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The Trade Representative's office on Tuesday welcomed what it called a "significant victory" in a World Trade Organization dispute over Chinese export restrictions on raw materials used for a variety of industrial products.
U.S. industry and senior Democrats ratcheted up pressure on Congress on Wednesday for a tough new trade law to punish China for what they see as an undervalued currency that threatens American jobs and profits.
Growth in Japan's economy slowed to a crawl in the second quarter and analysts see more weakness ahead, adding to policymakers' headaches as they grapple with deflation and a rise in the yen that threatens an export-reliant recovery.
Senh: I'm not sure what I should be more impressed with - that China has finally became the second largest economy in the world or that a tiny country like Japan was previously in second place. I guess I'm equally impressed.
Stocks extended their winning streak Monday after China said it would allow its currency to appreciate against the dollar, a move that could provide a boost for U.S. manufacturers and exporters ...
So the question isn't whether the Chinese economy will change, but how. The optimistic view is that Chinese leaders will slow their investment and credit boom, and at the same time make a transition to a consumer-led economy that doesn't depend so much on exports.
Japan's economy grew at a faster than expected pace last quarter, as steady exports to Asia and support from government stimulus measures prevent another downturn in the region's largest economy.
China defended its curbs on exports of industrial raw materials against unfair-trade complaints by the United States and Europe and announced Wednesday it has filed its own challenge to a U.S. ban on imports of Chinese poultry.
The United States and European Union are launching a World Trade Organization case against China over its export restrictions on raw materials, officials announced on Tuesday.