A weaker U.S. dollar means American companies can sell their goods at more competitive prices overseas. But it also threatens that reserve currency status.
From the BBC World Service: Beijing announced a 90-day pause of tariff measures that banned dozens of American companies from trading with Chinese firms.
From the BBC World Service: It’s only day 2 of President Donald Trump’s tour of the Middle East, and the trip has already resulted in billions of dollars in Saudi investment.
From the BBC World Service: Japanese carmaker Nissan will cut 20,000 jobs globally as it struggles with falling sales in China and heavy price discounts in the U.S.
The U.S. and China have agreed to temporarily rollback on some tariffs. Adam Posen, president of the Peterson Institute for International Economics, puts today’s deal into context.