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NEW YORK, United States (AFP) — Global stocks rallied Monday, shaking off recent weakness ahead of a meeting between the presidents of the United States and China that investors hope will produce a breakthrough. Markets were also hopeful as oil prices stabilized, Britain sealed a Brexit deal with the EU and Italy signaled a more conciliatory stance in a budget fight with Brussels. “The main driver is that we were oversold for a short period […]
WASHINGTON, United States (AFP) — US President Donald Trump said Monday he expected to raise the punitive tariff rates on hundreds of billions in Chinese imports as scheduled next year. Just days ahead of a planned meeting with Chinese President Xi Jinping, Trump also vowed to put tariffs on all remaining imports from China if the two sides failed to reach a deal, according to The Wall Street Journal. Trump already has imposed tariffs on […]
PALM BEACH, United States (AFP) — US President Donald Trump insisted Thursday he was “very prepared” for a meeting with his Chinese counterpart Xi Jinping next week at the G20 summit in Argentina, and suggested a deal could be reached to end the trade war. The president will meet Xi on the sidelines of the summit, which is taking place from November 30 to December 1 in Buenos Aires. “I have been preparing for it […]
BANGKOK, Thailand (AFP) — Southeast Asian nations may soon have to “choose sides” between the US and China in their ongoing trade war, the political heir to Cambodia’s strongman ruler Hun Sen warned Wednesday in rare public comments. Impoverished Cambodia has become an unlikely staging ground for geopolitical influence in Asia. In recent years it has turned into a key China ally, heading off criticism of the superpower over its claims to disputed seas […]
WASHINGTON, United States (AFP) — Washington on Tuesday said Beijing continued to foster the theft of American technological know-how, with officials there exacerbating matters in recent months. The renewed accusations from President Donald Trump’s administration come as markets grow pessimistic that the world’s two largest economies can resolve their burgeoning trade war any time soon. In an update to a report issued in March, the Office of US Trade Representative Robert Lighthizer said Tuesday that […]
Charts on Philippine-China trade.
by Andrew Beatty and Richard Carter Agence France Presse PORT MORESBY, Papua New Guinea (AFP) — China and the US crossed swords Saturday ahead of an APEC summit, duelling over protectionism, trade tariffs and “chequebook diplomacy” as they laid out sharply contrasting visions for the Pacific Rim region. In combative back-to-back speeches at a business forum held on a hulking cruise ship moored in Port Moresby, Xi Jinping and US Vice President Mike Pence […]
PORT MORESBY, Papua New Guinea (AFP) — Vice President Mike Pence warned Saturday that US sanctions and pressure on China would remain in place until Beijing reforms its trade practices. “We’ve put tariffs on $250 billion in Chinese goods and that number could more than double,” he told CEOs from around the region. “We hope for better, but the United States will not change course until China changes its ways.” © Agence France-Presse
TOKYO, Japan (AFP) — Japan and the United States will negotiate a bilateral trade agreement that will serve as a “model” for other countries, US Vice President Mike Pence said Tuesday in Tokyo. Speaking after talks with Japanese Prime Minister Shinzo Abe, he reiterated Washington’s position that US businesses have faced unfair obstacles in Japan. “The United States has had a trade imbalance with Japan for too long. American products and services too often face […]
HONG KONG, China (AFP) — Asian markets mostly fell Monday after Donald Trump’s top economics adviser took the wind out of their sails by downplaying the chances of a quick deal to end the China-US trade war. The US leader fuelled a blistering rally in the region Friday by tweeting that he had held positive talks with Chinese President Xi Jinping, before a report said he had even asked officials to draw up a draft […]
BEIJING, China (AFP) — President Xi Jinping said on Monday that China would accelerate efforts to remove barriers to foreign businesses and to increase imports, amid growing pressure to follow through on earlier pledges to open the country’s huge markets. Xi said China would seek to “step up” moves to stimulate domestic consumption of imports, lower tariffs, ease customs clearance procedures, and implement harsh punishments for intellectual property infringements, among other measures. “We will foster […]
SHANGHAI, China (AFP) — President Xi Jinping on Monday will open a Shanghai import fair intended as a signal by China that its markets are open despite mounting criticism to the contrary and the worsening trade war with Washington. Organisers say more than 3,000 foreign companies from 130 countries including the United States, Europe and across Asia, will put their products on display for potential Chinese buyers at the China International Import Expo. Companies in […]
