Tariff crisis Trump's tariff policy

US: Talks with China "very constructive"

The US describes the initial trade talks with China in Malaysia as "very constructive", writes Bloomberg.

The talks, led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, aim to reduce tensions between the world's two largest economies ahead of a meeting between President Donald Trump and Xi Jinping next week.

Trump, who has now begun his Asia trip, is also expected to meet Malaysian Prime Minister Anwar Ibrahim to discuss trade and security. A ceasefire in the trade conflict expires on November 10 if it is not extended.

Analyst: US and China are using completely new tools

Both the US and China are playing a high stakes game in the tariff war, says Alexis von Sydow at the National Knowledge Center on China to Ekonomiekot Extra.

- Both sides have put tools on the table that we have never seen before, he tells the radio.

The analyst calls China's export restrictions on rare earth metals "a global economic sanction on the entire world's high-tech industry."

Alexis von Sydow believes that this week's meeting between Donald Trump and Xi Jinping will at best lead to a breather before the frosty trade war continues.

Trump refuses to meet with Carney - the fight continues

President Donald Trump says he does not plan to meet with Canadian Prime Minister Mark Carney during his Asia trip, amid the fight over Ontario's anti-tariff advertising. Trump accuses Canada of playing dirty.

- I'm happy with the deal we have. It's very good for us. Any new deal that could be concluded would have been better for them than what they have now, Trump told reporters aboard Air Force One, according to Bloomberg.

Tensions between the two countries' closely intertwined economies have increased since Trump announced yesterday that all trade talks with Canada are being suspended with immediate effect.