عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Real Estate Forum to Discuss Innovations in the Sector

The Saudi capital, Riyadh (Asharq Al-Awsat)
The Saudi capital, Riyadh (Asharq Al-Awsat)
TT
20
TT

Saudi Real Estate Forum to Discuss Innovations in the Sector

The Saudi capital, Riyadh (Asharq Al-Awsat)
The Saudi capital, Riyadh (Asharq Al-Awsat)

The sessions and activities of the Future of Real Estate 2024 Forum, which will be held in Riyadh on Jan. 22-24, will witness discussions on the real estate system and innovations in the sector.
300 speakers representing 85 countries from around the world will take part in the Forum.
The most important topics focus on innovations in the real estate industry, challenges facing the sector, new opportunities and emerging trends, and sustainable financing solutions, in addition to the impact of natural elements on the real estate industry, and the role of real estate in improving the quality of business.
The forum’s activities include strategies on the growth and sustainability of the real estate sector, the influence of technology on the future of real estate and technological developments, its impact on architectural creativity in cities and the enhancement of urban flexibility, the hidden wealth of cities and technical services in real estate, as well as the future of commercial real estate and its role in accelerating the growth of the real estate sector in general.
The third edition of the forum will witness the signing of many bilateral agreements and MoUs, covering various areas of real estate.
The real estate exhibition, which will be held on the sidelines of the forum, will highlight the role of local and international entities participating in the real estate sector, in addition to the work of relevant international consulting companies.

Most Viewed

 
Business

China Hits Back at US and Will Raise Tariffs on American Goods from 84% to 125%

An electronic board shows Shanghai and Shenzhen stock indices as people walk on a pedestrian bridge at the Lujiazui financial district in Shanghai, China April 11, 2025. REUTERS/Go Nakamura
An electronic board shows Shanghai and Shenzhen stock indices as people walk on a pedestrian bridge at the Lujiazui financial district in Shanghai, China April 11, 2025. REUTERS/Go Nakamura
TT
20
TT

China Hits Back at US and Will Raise Tariffs on American Goods from 84% to 125%

An electronic board shows Shanghai and Shenzhen stock indices as people walk on a pedestrian bridge at the Lujiazui financial district in Shanghai, China April 11, 2025. REUTERS/Go Nakamura
An electronic board shows Shanghai and Shenzhen stock indices as people walk on a pedestrian bridge at the Lujiazui financial district in Shanghai, China April 11, 2025. REUTERS/Go Nakamura

China announced Friday that it will raise tariffs on US goods from 84% to 125% — the latest salvo in an escalating trade war between the world's two largest economies that has rattled markets and raised fears of a global slowdown.

While US President Donald Trump paused import taxes this week for other countries, he raised tariffs on China and they now total 145%. China has denounced the policy as “economic bullying" and promised countermeasures. The new tariffs begin Saturday.

Washington's repeated raising of tariffs “will become a joke in the history of the world economy,” a Chinese Finance Ministry spokesman said in a statement announcing the new tariffs. “However, if the US insists on continuing to substantially infringe on China’s interests, China will resolutely counter and fight to the end.”

China’s Commerce Ministry said it would file another lawsuit with the World Trade Organization against the US tariffs.

“There are no winners in a tariff war,” Chinese leader Xi Jinping said during a meeting with the Spanish Prime Minister Pedro Sanchez, according to a readout from state broadcaster CCTV. “For more than 70 years, China has always relied on itself ... and hard work for development, never relying on favors from anyone, and not fearing any unreasonable suppression.”

Chinese Foreign Minister Wang Yi on Friday said China stands firm against Trump’s tariffs not only to defend its own rights and interests but also to “safeguard the common interests of the international community to ensure that humanity is not dragged back into a jungle world where might makes right.”

Wang made the remarks when he met Rafael Mariano Grossi, director general of the International Atomic Energy Agency in Beijing. Wang said China will “work together with other countries to jointly resist all retrogressive actions in the world.”

Trump's on-again, off-again measures have caused alarm in stock and bond markets and led some to warn that the US could be headed for a recession. There was some relief when Trump paused the tariffs for most countries — but concerns remain since the US and China are the world's No. 1 and No. 2 economies, respectively.

“The risk that this escalating trade war tips the world into a recession is rising as the two largest and most powerful countries in the world continue to punch back with higher and higher tariffs,” Jennifer Lee, a senior economist at BMO Capital markets, wrote Friday. “No one truly knows when this will end.”

Chinese tariffs will affect goods like soybeans, aircrafts and their parts and drugs — all among the country's major imports from the US Beijing, meanwhile, suspended sorghum, poultry and bonemeal imports from some American companies last week, and put more export controls on rare earth minerals, critical for various technologies.

The United States' top imports from China, meanwhile, include electronics, like computers and cell phones, industrial equipment and toys — and consumers and businesses are likely to see prices rise on those products, with tariffs now at 145%.

Trump announced on Wednesday that China would face 125% tariffs, but he did not include a 20% tariff on China tied to its role in fentanyl production.

White House officials hope the import taxes will create more manufacturing jobs by bringing production back to the United States — a politically risky trade-off that could take years to materialize, if at all.