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HONG KONG, China (AFP) — Asian markets posted gains on Tuesday as better than expected Chinese trade data suggested a rebound from the economic devastation wrought by the coronavirus pandemic. China has largely brought the disease under control within its borders since the COVID-19 outbreak first emerged in the city of Wuhan late last year. But it came at the cost of drastic measures that shuttered much of the economy and cordoned off tens of […]
GENEVA, Switzerland (AFP) — The COVID-19 pandemic could provoke the deepest recession in living memory, World Trade Organization chief Roberto Azevedo warned Wednesday. “As we face what may well be the deepest economic recession or downturn of our lifetimes, we should aim to make the most of all potential drivers of sustainable growth to reverse this situation,” he told a virtual news conference in Geneva. © Agence France-Presse
GENEVA, Switzerland (AFP) — Global trade growth is expected to plummet by up to a third in 2020 due to the coronavirus pandemic, the World Trade Organization said Wednesday, warning that the numbers would be “ugly”. “World trade is expected to fall by between 13 percent and 32 percent in 2020 as the COVID-19 pandemic disrupts normal economic activity and life around the world,” the WTO said in a statement. There was a wide range […]
BEIJING, China (AFP) — China will waive trade-war tariffs on imports of selected US medical equipment from March 2, the government said Tuesday, as the country battles to contain the new coronavirus epidemic. More than 72,000 people have been infected by the outbreak of the new COVID-19 strain in China, which has claimed the lives of over 1,800 people. Products that will qualify for the exemptions include patient monitors, blood transfusion equipment and instruments to […]
WASHINGTON, United States (AFP) — The United States feels let down by a lack of transparency from China over the new-coronavirus crisis, a senior White House official said Thursday, contradicting President Donald Trump’s confidence in Beijing. “We are a little disappointed that we haven’t been invited in and we’re a little disappointed in the lack of transparency coming from the Chinese,” Larry Kudlow, the director of the National Economic Council, told reporters. Trump on Thursday […]
WASHINGTON, United States (AFP) — The United States on Thursday granted Huawei another 45 days to sell to American companies while they search for alternatives to the Chinese telecommunications giant that Washington views as a security threat. The extension will “allow existing telecommunication providers — particularly those in rural US communities — the ability to continue to temporarily and securely operate existing networks,” the Commerce Department said in a statement. The decision to provide yet […]
by Sebastian Smith WASHINGTON, United States (AFP) — President Donald Trump said Monday the time has come to pursue trade negotiations with the European Union which he said imposes “incredible” barriers to US goods. “Europe has been treating us very badly,” Trump said at a White House event with US state governors. After reaching a series of trade deals with Canada, Mexico and Japan, and a phase-one agreement with China, Trump said, “The next thing […]
HONG KONG, China (AFP) — Asian markets rose early Thursday as details were released of the China-US trade deal signed in Washington, with analysts saying it would allow investors to turn their focus to the global outlook and earnings season. After years of painstaking on-off talks between the economic superpowers, Donald Trump finally put pen to paper on an agreement that lowers tensions between the two and provides a major boost to the global outlook. […]
BEIJING, China (AFP) — A trade deal signed Wednesday between Washington and Beijing has “considerably addressed the concerns” of both sides, said Chinese Vice Premier Liu He, as the world’s two biggest economies marked a truce in the lingering trade impasse. Liu, who led negotiations for Beijing, added in a briefing with Chinese media that the freshly-inked “phase one” deal bears both economic and political significance, reported the official Xinhua news agency. The US and […]
by Beiyi SEOW BEIJING, China (AFP) — China said Thursday that Vice Premier Liu He will travel to Washington next week to sign the “phase one” deal with the United States that has lowered trade tensions between the world’s two biggest economies. The signing will cap a nearly two-year spat that threatened to throttle the global economy as the two countries exchanged tariffs on hundreds of billions of dollars worth of two-way trade. But US […]
BEIJING, China (AFP) — President Xi Jinping said Friday that China wants to reach an initial trade deal with the United States but is “not afraid” to fight back when necessary. Xi made the remarks two days after US President Donald Trump complained that Beijing had not made sufficient concessions so far, making him reluctant to conclude a bargain. The world’s two biggest economies have been locked in a bruising trade conflict for more than […]
HONG KONG, China (AFP) — Asian markets were mixed in early trade Tuesday with investors keeping tabs on the latest developments in the China-US trade talks, while Hong Kong staged a minor recovery after the previous day’s steep losses. The pound built on gains after British Prime Minister Boris Johnson was given a boost by news the Brexit party would not run against his Conservatives in hundreds of seats in next month’s general election. While […]
