U.S. envoy to U.N. urges Russia and China not to ‘reward’ North Korea’s bad behavior
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Amid the semiconductor industry’s slowdown and increasing geopolitical tensions, Dutch chip machine-maker ASML reported a decrease both in sales and profits. Europe’s most valuable tech company saw orders fall to €3.6bn in the first quarter of 2024, down from €9.2bn in the previous quarter. Its net profit also dropped to €1.2bn — a 37% decrease compared to Q4 2023. “We see 2024 as a transition,” ASML's President and CEO Peter Wennink said in a statement. Wennink expects a stronger...
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Top EU official warns on 'weaponization of trade' as tensions ramp up between the U.S. and China
The European Union's trade chief on Wednesday warned against the "weaponization" of trade amid the latest ratcheting up of tensions between the U.S. and China.
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Biden and US trade office target China’s steel, maritime and logistics sectors
US President Joe Biden calls for tripling tariffs on Chinese steel and aluminium, while US Trade Representative office launches investigation into Beijing’s practices in logistics and shipbuilding industries.