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by Beiyi SEOW Agence France-Presse WASHINGTON, United States (AFP) — The United States and Japan have reached an agreement on trade in minerals that are key to electric vehicle batteries, US trade officials said late Monday, a move to reinforce supply chains in a sector dominated by China. Rare earth elements and minerals such as lithium are becoming increasingly important in clean energy technologies, but the United States is set to face gaps in such […]
STRASBOURG, France (AFP) — The head of the European Commission Ursula von der Leyen said Monday she wants to avoid economic dependence on Beijing, but not fully “decouple” the EU’s economy from China. Explaining the stance she took last week when she visited US President Joe Biden, Brussels’ top official said the European Union was merely seeking a level playing field. The pair’s joint statement was a small step in resolving differences over trans-Atlantic trade, […]
PANAMA CITY, Panama (AFP) — Iranian naval ships will be allowed to sail through the Panama Canal as long as they abide by international norms, Panamanian authorities said Tuesday following reports that Teheran was sending vessels to the strategic waterway. An Iranian military presence in the Canal would anger the United States, which built the channel linking the Atlantic and Pacific oceans at the beginning of the 20th century, and Washington has warned that it […]
LONDON, United Kingdom (AFP) — UK Prime Minister Rishi Sunak and his Japanese counterpart Fumio Kishida will sign a “hugely significant” new defense agreement when the pair meet in London on Wednesday, Downing Street said. The two leaders will also discuss Japan’s current presidency of the G7 and “the need to maintain our collective support for Ukraine”, according to a statement from Sunak’s office. The deal, to be signed at the historic Tower of London, […]
Brussels, Belgium (AFP) The EU on Wednesday escalated disputes with China to the WTO, requesting panels be assembled to hear cases over trade restrictions on Lithuania and on legal recourses for EU patent holders. “In both cases, the Chinese measures are highly damaging to European businesses” and, in the Lithuania case, “impact the functioning of the EU internal market,” the European Commission said in a statement. China is the European Union’s biggest trading partner, […]
Canada on Sunday unveiled its new economic and diplomatic strategy for the Asia-Pacific region, allocating 2.3 billion Canadian dollars (US$1.7 billion) over the next five years to the plan aimed at mitigating risks posed by China. The government of Prime Minister Justin Trudeau has based its strategy on five major planks: promoting peace and security, notably by sending a warship to the region; bolstering trade and investment; boosting “feminist international assistance”; financing sustainable infrastructure; and […]
Paris, France | AFP | by Ali BEKHTAOUI The European Union threatened Monday to take retaliatory measures against the United States for electric car subsidies that favour domestic manufacturers. The 27-nation bloc is upset about Washington’s “Inflation Reduction Act”, which will see vast spending on green energy initiatives and includes tax breaks for US-made electric cars and batteries. Brussels says those benefits for American electric vehicle makers would put e-cars made in the EU at […]
Vilnius, Lithuania | AFP | Lithuania announced Monday that it has opened an office in Taipei in order to boost trade, a year after Taiwan had inaugurated a de facto embassy in the capital of the Baltic EU country. “I am happy that we were able to open this representative office,” Lithuanian Economy Minister Ausrine Armonaite told reporters in Vilnius, stressing Vilnius is not developing diplomatic ties. Lithuania decided to use the name of the […]
Beijing, China | AFP | by Jing Xuan TENG China’s exports shrank in October, the first such decline since mid-2020, customs authorities said Monday, as a domestic slowdown and the threat of global recession hit international trade. Exports fell 0.3 percent year-on-year in October, according to the General Administration of Customs, a steep drop from September’s 5.7 percent increase and well below analysts’ expectations. Year-on-year imports were down 0.7 percent in October, negative for the […]
Ottawa, Canada | AFP | Canada, with the backing of the United States, will seek to join the US-led Indo-Pacific Economic Framework, Foreign Minister Melanie Joly announced Thursday. At a joint news conference with US Secretary of State Antony Blinken, Joly said the two countries aimed to “further align our approaches” in the Indo-Pacific. “To further economic cooperation in the region, I’m pleased to announce that Canada will seek membership in the Indo-Pacific Economic […]
Belfast, United Kingdom | AFP | by Callum Paton in Belfast and Helen Rowe in London Northern Ireland on Thursday appeared headed for a second election this year after the leader of the pro-UK Democratic Unionist Party said his grouping had not changed its position on contentious post-Brexit trade rules. DUP leader Jeffrey Donaldson told reporters insufficient action had been taken to address their concerns on the so-called Northern Ireland Protocol governing post Brexit trade. […]
Sydney, Australia | AFP | Australian Prime Minister Anthony Albanese on Friday voiced fears that Britain’s political convulsions and the exit of his counterpart Liz Truss could derail a pending trade deal between the two countries. “I am concerned about any delay that would occur to the Australia-UK Free Trade Agreement,” the Australian prime minister said. The agreement was finalised in December 2021 to much fanfare, but has yet to be ratified by either country. […]
