Page 2 - Us China Trade War

China seeks improved ties with India to ease US pressure: Business leader

China is trying to improve ties with India in an attempt to ease pressure from the incoming Trump administration, the head of a top India-centric US business advocacy and strategic group said on Tuesday. During his presidential election campaign, Trump proposed a 60 per cent tariff on goods from China -- and a tariff of up to 20 per cent on every other US import. Mukesh Aghi, president of the US-India Strategic and Partnership Forum (USISPF), said: "So, we are seeing an early impact of the Trump administration coming in that has created pressure on China to ease dealing with India. So that's why border patrolling has been agreed upon. Direct flights have been agreed upon." "They will also issue more visas to Chinese coming to India. You are seeing the impact of Trump coming in having a positive impact on the India-China relationship," he further said. Last month, India announced that it had reached an agreement with China on patrolling along the Line of Actual Control (LAC) in east

Congressional panel recommends toughing US-China trade relationship

A congressional panel has recommended that the US toughen its trade relationship with Beijing, pushing to roll back a nearly 25-year-old decision that helped bring about China's rapid economic growth but that many in Washington now see as hurting US interests. In its annual report to Congress released on Tuesday, the US-China Economic and Security Review Commission called for the first time for ending permanent normal trade relations with Beijing. It echoes moves by prominent Republican lawmakers -- including Sen Marco Rubio, President-elect Donald Trump's pick for secretary of state -- as the trade war with China is expected to intensify under the incoming administration. The change would mean the US reintroducing annual reviews of China's trade practices and gaining more leverage to address "unfair trade behaviours", the commission said in the report. "This move would signal a shift toward a more assertive trade policy aimed at protecting US industries and workers from economic ..

China 'ready to work' with Trump administration: Xi tells President Biden

Xi further emphasised maintaining a 'stable, healthy and sustainable' China-US relationship

US lawmaker introduces trade reform to tackle China's economic influence

The bill seeks to address what lawmakers and economic experts have described as China's unfair trade practices that have undermined American workers, industries, and national security

Trump faces setback in South American trade as China gains ground in Peru

That's made Beijing the go-to trade partner from Brazil to Chile and Argentina, eroding Washington's regional political clout, a trend that widened under Trump's 'America First' inward turn during his

Southeast Asia braces for factory influx amid Trump's China tariffs

As Trump geared up his campaign to retake the presidency earlier this year, calls from Chinese customers flooded WHA Group, one of Thailand's largest industrial estate developers, said CEO Jareeporn

Here's what you need to know about China's $1.4 trillion debt package

Officials estimate swapping hidden for official debt will save 600 billion yuan in interest for local governments over five years. Having money available for principal repayment

US seeks transparency on chip exports to China amid security concerns

The companies receiving the inquiry include KLA, Applied Materials, Lam Research, Tokyo Electron, and ASML

No winners in trade, industrial wars, says China's ambassador to US

Trump's return could revive issues from his first presidency, when he initiated a bruising trade war with the world's second-largest economy in 2018

India's missed trade opportunities as others gain from US-China tensions

India has not been able to attract a notably greater share of global FDI. Some of this is due to political resistance to stronger ties with China, some of it is held back by structural barriers

India's attempts fail against rivals as US diverts trade from China: Study

India also hasn't been able to attract a greater portion of global foreign direct investment, even as FDI flows to China plummet, the Oxford Economics study said

Iran's missile strikes offer lessons for US in countering China's threats

The picture is much different in the Indo-Pacific region for the US and its allies, which use the Lockheed Martin and Raytheon Patriot, THAAD and sea-based Aegis systems for missile defence

US concerned about China's risky sea actions, Blinken warns ASEAN

US Secretary of State Antony Blinken told Southeast Asian leaders Friday that the US is concerned about China's increasingly dangerous and unlawful activities in the disputed South China Sea during an annual summit meeting, and pledged the US will continue to uphold freedom of navigation in the vital sea trade route. The 10-member Association of Southeast Asian Nations' meeting with Blinken followed a series of violent confrontations at sea between China and ASEAN members Philippines and Vietnam, which have fueled concerns that China's increasingly assertive actions in the waterways could spiral into a full-scale conflict. China, which claims almost the entire sea, has overlapping claims with ASEAN members Vietnam, the Philippines, Malaysia and Brunei, as well as Taiwan. About a third of global trade transits through the sea, which is also rich in fishing stocks, gas and oil. Beijing has refused to recognize a 2016 international arbitration ruling by a U.N.-affiliated court in the .

Escalation in US-China trade war may help India to increase exports: GTRI

The escalation in the US-China trade war is expected to help India increase its exports and attract investments from American companies, think tank GTRI said on Friday. He said that last month, the US Senate introduced two bills that could intensify the trade war and have major global economic impacts if passed. The 'Neither Permanent Nor Normal Trade Relations Act' (PNTR Act) and the 'Axing Non-Market Tariff Evasion Act' (ANTE Act) aim to counter China's trade practices by raising tariffs and imposing new trade barriers. The PNTR Act seeks to phase out China's favourable trade status, while the ANTE Act targets non-market economies like China and Russia with tougher measures, the Global Trade Research Initiative (GTRI) said. "While these bills aim to protect US industries, they also create opportunities for countries like India to grow their manufacturing sectors. "As US companies look for alternatives to China, India could see increased investment in electronics, textiles, and .

US bans new type of goods from China over allegations of forced labour

The Department of Homeland Security announced Wednesday that it would ban the import of goods from a Chinese steel manufacturer and a Chinese maker of artificial sweetener, accusing both of being involved in the use of forced labour from China's far-west region of Xinjiang. The action broadens the scope of the US effort to counter products from entering the country that the government says are tied to human rights abuses. The additions to the entity list under the Uyghur Forced Labour Prevention Act marks the first time a China-based steel company or aspartame sweetener business have been targeted by US law enforcement, DHS said. Today's actions reaffirm our commitment to eliminating forced labour from US supply chains and upholding our values of human rights for all, said Robert Silvers, undersecretary of Homeland Security for policy. No sector is off-limits. We will continue to identify entities across industries and hold accountable those who seek to profit from exploitation and

China, US to hold talks in near future on economic, trade issues: Reports

The tariffs were imposed after a review by the Office of the US Trade Representative of levies that had been previously introduced by former US President Donald Trump

US companies in China see record-low profits amid geopolitical tensions

American companies in China are seeing record-low profits, with business confidence at an all-time low amid US-China tensions and a slowing Chinese economy, according to a report published Thursday by a US business group. Out of 306 companies polled, a record-low 66 per cent were profitable in 2023, according to the China business report published by the American Chamber of Commerce in Shanghai. The report also found that only 47 per cent of respondents were optimistic about their business outlook in China over the next five years, the lowest in the survey's history of more than two decades. Beijing and Washington have been at odds in recent years over issues like trade and manufacturing, as well as China's claims over the South China Sea. China is also grappling with a slowing domestic economy, with lackluster consumer demand and deflationary pressures persisting even post-Covid. The geopolitical tensions between both countries was the top challenge to businesses' operations in .

World looking at more sharpened contestation between US, China: Jaishankar

India would be willing to work with like-minded partners on specific agenda and its role in the Quad is an example of such an approach, External Affairs Minister S Jaishankar said on Saturday, while calling for reformed multilateralism. In a virtual address at the FPCI Global Town hall, Jaishankar, delving into major geopolitical developments, said the world is looking at a more "sharpened contestation" between the US and China on a range of areas. He underlined that even as the world looks "complicated", India's desire and determination to ensure its stability and contribute to its prosperity is only getting stronger. The Quad, comprising India, the US, Australia and Japan, has emerged as a key coalition focusing on working towards ensuring a free, open and rules-based Indo-Pacific against the backdrop of China's growing muscle-flexing in the region. In the context of key directions and developments in international relations over the last few decades, the external affairs ministe

IBM to revoke ops from China amid tussle between Washington-Beijing: Report

The current shift in IBM's business structure is reportedly due to the rising tensions between China and the US along with an ongoing decline in the Chinese economy

US NSA Sullivan meets Xi Jinping as wide-ranging China-US talks near end

As the pair sat down in the Great Hall of the People, Xi told Sullivan Beijing was committed to a stable relationship with Washington