A summit between the Presidents of the United States and China has paved the way to improve relationship between the two major economic powers in a number of areas.
During their four hours-long meeting in Woodside, California, US President Joe Biden and his Chinese counterpart Xi Jinping agreed on taking joint actions to curb fentanyl production and restore military communication lines between the two countries.
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Political News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.