Banking sources say the net payments system is designed for large corporations and works directly with 11 Chinese provinces

International Monetary Fund says Trump's tariffs were "a major negative shock" for the global economy and most economies will see slower growth in the near-term

Vance pushes energy and defence deals while discussing a trade agreement and global issues with Modi on his short Indian visit

The 737 MAX 8 landed in Guam after leaving Boeing's Zhoushan completion centre near Shanghai on Monday, tracking data showed

Trump proposed fees on China-built ships of up to $1.5 million a port call, but officials opted instead to levy fees based on net tonnage, or each container, or car, unloaded

Beijing warns it will impose counter-measures against countries doing deals that seek to compromise China's interests or trade

Seaborn trade from Asia to the US has plummeted, with a vast number of freight shipments cancelled and China's once-bustling ports now at a standstill because of the tariff war launched early this month

US officials have told their European counterparts they will cut tariffs if countries reduce their dealings with China, while Beijing has urged Trump to 'stop whining'

Japan's second-biggest automaker by sales plans to increase US vehicle production by as much as 30% over two to three years, a new report says

Popular drugs used to fight cancer and diabetes could become more expensive because of tariffs imposed by President Trump. Pharma giants want levies to be phased in

China produces some 90% of the world's rare earths and is the dominant supplier of the vital elements to users around the world

Computer chips made outside the US could face a tariff soon, according to the US President, while a security review will be undertaken on critical technology products from China