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Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer held a video call with Chinese Vice Premier He Lifeng on Dec. 5, according to China’s state-run news agency Xinhua. 

The so-called GAIN AI Act would require chipmakers to give American customers first dibs on their powerful AI chips before selling in China and other arms-embargoed countries.

The group of trailer OEMs, which calls itself the American Trailer Manufacturers Coalition, comprises Great Dane, Stoughton Trailers and Wabash.

China is home to more than 90% of global rare earths and permanent magnets refining capacity, compared with just 4% for second-place Malaysia, according to the International Energy Agency.

The world economy has proven surprisingly durable in the face of President Donald Trump’s trade wars, the Organization for Economic Cooperation and Development said Dec. 2.

Trump’s 50% tariffs on foreign steel “have fundamentally altered the competitive landscape and sharply limited our ability to access the U.S. market,” a spokeswoman said.

Costco is one of the biggest corporate players to jump into a challenge of the Trump administration's tariffs largely driven this year by small businesses and Democratic state officials.

The data for airfreight and container shipping “continue to signal expansion,” even as they weakened from June, “indicating a cooling-off in the transportation of goods worldwide,” WTO said.

Prime Minister Mark Carney’s government will lower the tariff-rate quota level for steel imports from countries with which Canada doesn’t have a trade agreement to 20% from 50%.

Treasury Secretary Scott Bessent’s comments come after Trump and Xi spoke on Nov. 24, their first conversation since the two leaders met in Busan, South Korea, in October.