Trade war
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The United States said on Friday it would add 33 Chinese firms and institutions to an economic blacklist, citing “national security” and “human rights” issues. The U.S. Commerce Department said in a statement that it will add 24 Chinese governmental and commercial organizations to the Entity List “for engaging in activities contrary to the national security or…
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The United States has imposed stricter restrictions on exports to China, which includes civil aircraft components and items related to semiconductors. The new rules will require licences for U.S. companies to sell certain items to military entities in China, even if those goods are for civilian use. Media reports confirm the new rules also eliminate…
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U.S. Treasury has determined that China should no longer be designated as a currency manipulator. The United States Treasury Department dropped Monday its designation of China as a currency manipulator, two days before the signing of a preliminary trade agreement to ease an 18-month tariff war. The currency report from the U.S. Treasury said the Chinese yuan, had depreciated as far as…
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China’s Foreign Ministry, when asked about the trade deal with the United States, said it is committed to resolving the issues but the deal must be mutually beneficial. Spokeswoman Hua Chunying made the comments on Friday at a daily briefing. US, China Near Deal That Would Suspend Planned Tariffs The Trump administration and China are…
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The United States is the world’s biggest source of instability and its politicians are going around the world baselessly smearing China, the Chinese government’s top diplomat said on Saturday in a stinging attack at a G20 meeting in Japan. Relations between the world’s two largest economies have nose-dived amid a bitter trade war – which…
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Wall Street’s main indexes suffered their sharpest one-day declines in nearly six weeks on Wednesday after employment and manufacturing data suggested that the U.S.-China trade war is taking an increasing toll on the U.S. economy, Reuters reports. Adding to trade concerns, the United States won approval on Wednesday to levy import tariffs on $7.5 billion…
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Tesla Inc. raised car prices in China, responding to trade tensions that weigh on the country’s currency and have led to oscillating import tariffs on vehicles. The price of a basic level imported Model 3 sedan went up more than 2% to 363,900 yuan ($50,900), Tesla’s website showed on Friday. Prices for basic level Model…
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The U.S. ethanol industry is about to break under the weight of the Trump Administration’s trade war with China and the surge in the number of small refineries exempted from the nation’s biofuel laws, said Todd Becker, CEO of Green Plains. The U.S. ethanol industry was preparing for growth in recent years, but the momentum…
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More than 600 American firms including the world’s largest retailer Walmart jointly wrote to Trump administration on Thursday for a prompt settlement on China-U.S. trade disputes, concerning tariffs will hurt U.S. companies and consumers. “We remain concerned about the escalation of tit-for-tat tariffs,” the letter said, “broadly applied tariffs are not an effective tool to…
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Chinese Vice Premier Liu He arrived in Washington D.C. on Monday afternoon for the upcoming high-level economic and trade consultations with the U.S., media reports confirm. Liu, also a member of the Political Bureau of the Communist Party of China Central Committee and chief of the Chinese side of the China-U.S. comprehensive economic dialogue, leads…
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The introduction of trade tariffs on Chinese-manufactured goods by the Trump administration has done little to address the huge trade surplus China enjoys over the United States. In fact, according to figures released on Monday, the surplus last year was the largest in history, or at least since 2006 when records began to be…
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The trade talks between China and the U.S. will proceed to the next step as scheduled after the latest vice-ministerial level negotiations concluded on Wednesday, spokesperson of China’s Ministry of Commerce (MOFCOM) Gao Feng said at a briefing on Thursday. Image: Gao Feng Both sides had extensive, in-depth and detailed exchanges, and agreed to…
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The world is heading for a global trade slowdown in 2019 as financial markets grow increasingly worried about the world economy, fearing things could turn ugly fast if a meaningful deal isn’t reached in the US-China trade dispute. The World Trade Organisation’s (WTO) chief economist, Robert Koopman, told Bloomberg all indicators point to a lowdown. “When…
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Singaporean Prime Minister Lee Hsien Loong has warned that the trade war between the US and China could impact the growth of the affluent city-state. Image: Prime Minister Lee Hsien Loong In his New Year’s message, Lee expressed that the trade tensions between the two major superpowers could force others to pick sides.…
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Of late, there has been talk of and concern over a possible “Cold War” between the United States and China. The argument goes that Beijing and Washington are competing to establish their respective versions of “political correctness” and global order. And although the Sino-US trade conflict has eased after US President Donald Trump agreed…
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China is reportedly confused by the Trump administration’s version of what happened in Buenos Aires. After the key meeting between President Donald Trump and Chinese President Xi Jinping, officials from Beijing are “puzzled and irritated” by the Trump administration’s behavior, The Washington Post reported Tuesday, citing a former U.S. government official who has been in contact with…
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