from Boom Bust
The spotlight is back on trade between the US and China as Beijing waives tariffs on some imports from the United States. As part of the ‘phase one’ trade deal between the two countries signed in January, China agreed to increase imports of US goods by $200 billion over two years. Meanwhile, even though Saudi Arabia’s government has diversified their investments, Saudi Aramco announced a drop in first quarter net profit as the novel coronavirus pandemic ravages demand. Plus, Tesla is defying California orders and has reopened operations within the state. CEO Elon Musk is flaunting lockdown rules by restarting Tesla’s Fremont, California factory as calls for economic reopening continue across the country,
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