Ongoing trade war
The U.S. Department of the Treasury de-lists China as a currency manipulator.
Kioxia, the Japanese computer memory manufacturer spun off from Toshiba, postpones its initial public offering on the Tokyo Stock Exchange, citing the volatility of the semiconductor industry caused by both the COVID-19 pandemic and the ongoing trade war between China and the United States. Its initial public offering, which would have launched on October 6, was projected to be Japan's largest for this year.
Invoking the International Emergency Economic Powers Act, U.S. President Donald Trump issues several executive orders barring firms and American citizens from trading and doing financial transactions with Chinese technology companies ByteDance and Tencent, effectively banning their respective apps TikTok and WeChat within the United States. The orders are set to go into effect in 45 days.
Chinese IT company ByteDance agrees to divest from the U.S. branch of TikTok, in light of U.S. President Donald Trump's threat to ban the app within the country. If the deal is approved, Microsoft will handle the app's personal data rather than ByteDance, averting a main source of contention with U.S. officials.
Discount retailer Dollar Tree reports that it will miss its analysts' profit expectations for this quarter, blaming the shortfall on the tariff costs imposed by the United States government on products it imports from China.
China and the United States announced a tentative agreement for the "first phase" of a trade deal, with China agreeing to buy up to $50 billion in American farm products with the United States agreeing to suspend new tariffs scheduled for October 15.
China lets its currency drop to its lowest reported level since 2008 and also asks its state-owned companies to halt imports of U.S. agricultural products. In response the U.S. Treasury Department designates China as a currency manipulator.
The Institute of Electrical and Electronics Engineers (IEEE) bans Huawei scientists from reviewing submissions to its peer-reviewed journals, due to the "severe legal implications" of U.S. sanctions against the Chinese company.