Tag: trade

Protectionism slammed as Southeast Asian leaders rally to trade pact

by Thanaporn PROMYAMYAI / Dene-Hern Chen Agence France Presse BANGKOK, Thailand (AFP) — Southeast Asian leaders made an impassioned plea against protectionism at a regional summit in Bangkok Sunday, warning that a dragging US-China trade spat could hammer their export-led economies. Tit-for-tat tariffs between Washington and Beijing have cast a dark cloud over global growth forecasts and experts warn any drop-off in spending by the world’s two biggest economies is likely to hit Southeast Asia […]

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ASEAN seeks conclusion of China-led trade deal this year: Thai PM

  BANGKOK, Thailand (AFP) — Southeast Asian leaders are eager to sign a sweeping China-led trade pact by the end of this year, Thailand’s prime minister said Friday, with further talks expected at a Bangkok summit on the world’s biggest commercial deal. Beijing is seeking to shape the rules of free trade across the Asia-Pacific, as America retreats from multilateral deals under US President Donald Trump. The China-crafted Regional Comprehensive Economic Partnership (RCEP) includes all […]

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Trade disputes to dominate as ASEAN meets in Bangkok

  by Jenny Vaughan Agence France Presse BANGKOK, Thailand (AFP) — Southeast Asian leaders will dissect the impact of the US-China tariff war this weekend at a Bangkok summit, with Beijing determined to drive forward a trade pact sweeping in 40 percent of global commerce — but excluding America. Disputes in the flashpoint South China Sea and Myanmar’s treatment of Rohingya Muslims are also likely to make the agenda at the two-day Association of Southeast […]

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Huawei phone sales plunge, cutbacks planned as US pressure bites

  SHENZHEN, China (AFP) — Huawei’s founder said Monday the Chinese telecom giant’s overseas smartphone sales have tumbled since the US last month threatened to blacklist the company, and he warned the embattled firm would slash production to weather the US drive to isolate it. The announcements by Huawei founder and CEO Ren Zhengfei marked the first clear indication from the company of the impact of the US pressure, which is being applied over concerns […]

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Asian markets enjoy fresh rally with focus on Trump-Xi meeting

HONG KONG, China (AFP) — Markets extended the previous day’s gains in Asia on Tuesday, with investors turning their attention back to the China-US trade row and a planned meeting between the countries’ leaders later this month. Donald Trump’s decision to drop threatened tariffs on Mexico after a last-minute immigration deal last week sparked relief across trading floors and led to hope that the row with Beijing could also end with some sort of agreement. […]

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Trump raises tariff threat anew over secret provision in Mexico deal

  WASHINGTON, United States (AFP) — President Donald Trump said Monday a secret provision of the US immigration deal with Mexico will require the approval of that country’s legislature and warned US tariffs will be reinstated if it is not forthcoming. Trump did not say what the provision entails, only that it would be revealed “in the not too distant future and will need a vote by Mexico’s Legislative body.” “We do not anticipate a […]

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Asian markets tumble on trade tensions

HONG KONG, China (AFP) — Asian stocks largely fell Tuesday, reversing early gains on a bargain-hunting push by investors, as global trade tensions continued to weigh on markets. Fears of an economic slowdown have mounted in recent days as US President Donald Trump has threatened Mexico with tariffs, adding to anxieties over the US-China trade war, which shows no signs of a resolution. The market’s “assumption that the slowing global economy would recover later this […]

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China urges students to weigh ‘risk’ of studying in US

  BEIJING, China (AFP) — China on Monday warned students and academics on the “risk” of studying in the United States, citing an uptick in visa denials and delays amid a trade war and other tensions. The education ministry in a statement urged students to “strengthen risk assessment… and make relavent preparations”. The ministry said Chinese students and academics have experienced visa restrictions, delays in obtaining them, and visas with shorter duration. China is the […]

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China warns US not to politicize exchange rates

  BEIJING, China (AFP) — China warned the United States on Wednesday not to “politicize” the exchange rate of its currency amid a festering trade war between the two economic giants. The US Treasury declined to label China a currency manipulator in its latest semi-annual report but also called on Beijing to prevent the yuan from weakening. “We have always said here that we hope the US side will respect objective facts, market rules and […]

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Trump, Abe to burnish ties over golf, sumo and steak

by Richard CARTER TOKYO, Japan (AFP) — US President Donald Trump arrives in Japan on Saturday for a four-day trip likely to be dominated by warm words and friendly images, but light on substantive progress over trade. Japanese and US officials hail as “unprecedented” the relationship between Trump and his “golf buddy”, Prime Minister Shinzo Abe, and the pair will again find time for a round to cement their diplomatic bromance. The official centrepiece is […]

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Most Asian markets see further losses as trade row rumbles along

HONG KONG, China (AFP) — The increasingly fractious trade row between China and the United States was the main focus of Asian investor angst Friday, with most markets down to extend the previous day’s steep losses, though oil edged back from a painful sell-off. With little hope for a quick turnaround in the standoff the economic superpowers appear to be digging in their heels as they exchange barbs, blaming each other for the breakdown in […]

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Trump unveils $16-billion aid for farmers hurt by China trade war

by Heather SCOTT WASHINGTON, United States (AFP) — President Donald Trump on Thursday unveiled a new $16 billion aid package to help farmers caught in the crossfire his trade war with China. “The farmers have been attacked by China,” Trump told reporters at the White House. “We’re going to help out our farmers and we’re giving them that level playing field that is so important.” Trump again claimed that China is paying the 25 percent […]

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