Talks planned this weekend between US and Chinese officials in Switzerland are a culmination of more than three months of dizzying rounds of retaliatory tariffs between the two countries that have crippled each other’s exporters and dragged on their economies. Washington and Beijing are entering talks with tariffs on each other’s goods at an all-time … Read more
American businesses are cancelling orders from China, postponing expansion plans and hunkering down to see what trade policy surprises President Donald Trump plans to spring on them next. The president’s massive and unpredictable taxes on imports seem likely to mean emptier shelves and higher prices for American shoppers, perhaps within weeks. And the higher costs … Read more
After a lot of back-and-forth action, Trump‘s tariff dampener that iced up world trade — and especially all trade between the US and China — may finally have shown signs of a thaw on some critical frontiers, Goldman Sachs Group has noted.China, the leading producer of plastics globally, may consider exempting imports of petrochemical feedstocks … Read more
China on Wednesday removed Vice Commerce Minister Wang Shouwen from his role as trade negotiator and replaced him with a former Chinese representative to the World Trade Organization, amid an escalating tariff war with the United States. Li Chenggang, 58, who previously served as Assistant Commerce Minister during the first Donald Trump administration, has taken … Read more
A dizzying escalation of tariffs has unraveled a trade relationship between the United States and China forged over decades, jeopardizing the fate of two superpowers and threatening to drag down the world economy. The brinkmanship displayed by the two countries has already far exceeded the battles they waged during President Donald Trump‘s first term. In … Read more
Beijing: The set of 34% tariffs imposed by US President Donald Trump on Chinese exports could hit China’s GDP by two to 2.5 percentage points, further affecting the Chinese economy which is struggling with slowdown, a top Chinese Economist said. Larry Hu, chief China economist at investment bank Macquarie, estimated that the duties could lower … Read more
For years, the U.S. government has urged China to show “restraint” in pushing its claim on Taiwan and to drop military threats to bring the democratically governed island under its control. Now – some Chinese commentators say – the power of that long-held U.S. message has been undermined by the threats by U.S. President-elect Donald … Read more
BENGALURU/BEIJING: The United States could impose nearly 40% tariffs on imports from China early next year, a Reuters poll of economists showed, potentially slicing growth in the world’s second-biggest economy by up to 1 percentage point. The poll, the first on China’s economy by Reuters since Donald Trump‘s sweeping election victory on Nov. 5, also … Read more
Barely a week after booby-trapped pagers killed dozens of people and wounded about 3,000, mostly operatives of an attack anti-Israel militant group Hezbollah, in Lebanon, the US Commerce Department is considering banning Chinese software and hardware in connected and autonomous vehicles on American roads due to national security concerns, sources have told Reuters. “You can … Read more
Taiwanese chip designer MediaTek said on Friday it had applied to the US government for permission to continue supplying China’s Huawei after new US curbs take effect in mid-September amid rising China-US tensions. The Trump administration in August expanded its curbs on Huawei and banned suppliers from selling chips made using US technology to the Chinese firm without a … Read more