Page 6 - Us China Trade War

Yellen in China: Beijing worried US planning more tariffs on green tech

As US Treasury Secretary Janet Yellen appeals to Chinese leaders to change their domestic manufacturing policies on the second day of an official visit, state media are receiving her message with skepticism, and anxiety about more US tariffs on green energy products. Yellen, who started her five-day visit in one of China's major industrial and export hubs, has focused thus far on what the U.S. considers to be unfair Chinese trade practices in talks with senior Chinese officials. The official Xinhua News Agency wrote Friday night that while Yellen's trip is a good sign that the world's two largest economies are maintaining communication, talking up Chinese overcapacity' in the clean energy sector also smacks of creating a pretext for rolling out more protectionist policies to shield U.S. companies. Chinese government subsidies and other policy support have encouraged solar panel and EV makers in China to invest in factories, building far more production capacity than the domestic ...

During China visit, Yellen calls for level playing field for US workers

US Treasury Secretary Janet Yellen called Friday for a level playing field for American companies and workers as she began a five-day visit to China in one of the country's major industrial and export hubs. Yellen told Wang Weizhong, the governor of Guangdong province, that it's important for the U.S. and China to have open and direct communication on areas of disagreement. "This includes the issue of China's industrial overcapacity, which the United States and other countries are concerned can cause global spillovers, she said. Yellen, the first Cabinet-level official to visit China since President Joe Biden met Chinese leader Xi Jinping last November, has telegraphed that she will raise what the U.S. considers to be unfair Chinese trade practices, a concern shared by many European countries. Before talks with the governor, she met with American, European and Japanese business representatives to hear their concerns, ahead of what will likely be tough talks on trade and other issue

Why maintaining ASML equipment is new front in US-China chip war?

ASML dominates the market for lithography tools - huge expensive, complex machines that perform one step in the chipmaking process, helping to create circuitry

Criminal case in US against China's Huawei heads toward 2026 trial

Since 2019, the US has restricted Huawei's access to US technology, accusing the company of activities contrary to US national security, which Huawei denies

Janet Yellen meets China's foreign business leaders ahead of trade talks

The Treasury is not expecting a major shift in Chinese policy as a result of meetings, but it was important to explain the problems that overinvestment in these sectors are causing around the world

US officials raise commercial, market access issues with China in meeting

Washington has raised concerns with Beijing for years over restricted access to the Chinese market for US companies

Taiwan detects 7 Chinese naval vessels, 3 military aircraft encircling it

Since September 2020, China has increased its use of grey zone tactics by incrementally increasing the number of military aircraft and naval ships operating around Taiwan

China's WuXi AppTec sent US client's data with Beijing: US intelligence

Hong Kong listed Wuxi shares pared earlier gains of nearly 5 % to trade 1% higher, while Shanghai-listed shares were up 0.4%

Kansas may limit economic activity with China, other 'countries of concern'

Republican legislators in Kansas advanced proposals Wednesday aimed at preventing individuals and companies from China and other US adversaries from owning farmland or business property, limiting state investments in foreign companies and restricting the use of foreign-made drones. Some GOP conservatives, including state Attorney General Kris Kobach, want the state to enact even tougher restrictions, even as Democratic critics suggest the measures are fuelled by xenophobia. Kansas already limits corporate ownership of agricultural land, and more than 20 other states restrict foreign land ownership, according to the National Agricultural Law Center. Supporters of such measures argue that they protect military installations and US citizens from spying and other national security risks. The Republican-controlled Kansas House approved three bills addressing activities by individuals and companies from "countries of concern" -- China, Cuba, Iran, North Korea and Venezuela -- and groups .

US, UK go after Chinese hackers accused of state-backed operations

Hackers linked to the Chinese government launched a sweeping, state-backed operation that targeted US officials, journalists, corporations, pro-democracy activists and the UK's election watchdog, American and British authorities said on Monday in announcing a set of criminal charges and sanctions. The intention of the campaign, which officials say began in 2010, was to harass critics of the Chinese government, steal trade secrets of American corporations and to spy on and track high-level political figures. Western officials disclosed the operation, carried out by a hacking group known as APT31, while sounding a fresh, election-year alarm about a country long seen as having advanced espionage capabilities. The US Justice Department charged seven hackers, all believed to be living in China. The British government, in a related announcement, imposed sanctions on two of the defendants in connection with a breach that may have given the Chinese access to information on tens of millions o

China relaxes rules governing cross-border data flows on business pressure

"The relaxations are meaningful. This is the government's response to foreign companies' complaints," said Tom Nunlist, an analyst at consultancy Trivium

US' proposed ban on TikTok 'not fair', says China's foreign ministry

legislators have raised fears that TikTok's US user data could be passed on to China's government

US House to vote on bill that decides ByteDance-owned TikTok's fate in US

Tiktok CEO Shou Zi Chew will visit Capitol Hill on Wednesday on a previously scheduled trip to talk to senators, a source briefed on the matter said

US closely watching exports of chips that could boost China's military

The United States is constantly assessing the need to expand export controls to stop China from acquiring advanced computer chips and manufacturing equipment that could be used to boost its military, U.S. Commerce Secretary Gina Raimondo said Monday. The U.S. export controls were first launched in 2022 to counter the use of chips for military applications that include the development of hypersonic missiles and artificial intelligence. Last year, the U.S. Commerce Department broadened the export controls, sparking protests from China's Commerce Ministry that the restrictions violated international trade rules and seriously threaten the stability of industrial supply chains." China said it would take all necessary measures to safeguard its rights and interests and urged Washington to lift the export control as soon as possible. Asked if the U.S. was planning to further broaden the chip export controls to China, Raimondo said in a news conference in the Philippine capital Manila that

China's exports, imports beat estimates, trade surplus of over $125 bn

China's exports and imports for the first two months of the year beat estimates, an indication that demand may be improving as Beijing attempts to boost economic recovery. Exports for the January-February period grew 7.1 per cent from a year earlier, customs data released Thursday showed, higher than the 2.3 per cent rise in December. Imports rose 3.5 per cent from the same time last year, up from a 0.2 per cent growth in December. China posted a trade surplus of USD 125.16 billion. Though China usually releases trade data monthly, the data for the first two months of the year are combined to avoid disruptions from the weeklong Lunar New Year holidays, when many businesses and factories are closed. The world's second-largest economy has struggled to bounce back after the pandemic, as it grapples with weaker demand globally as well as a domestic property crisis that remains a drag on the economy. Demand for Chinese exports has also been weak since the Federal Reserve and central b

US devising tactics to suppress us despite improvement in relations: China

China's foreign minister accused the US on Thursday of devising tactics to suppress China's rise and criticised the Biden administration for adding more Chinese companies to its sanctions lists. Wang Yi, speaking to media during the annual meeting of China's legislature, said that relations with the US have improved since Presidents Xi Jinping and Joe Biden met in November, but that America has not fulfilled its promises. If the US always says one thing and does another, where is its credibility as a major power? If the US gets nervous and anxious when it hears the word 'China,' where is its confidence as a major power? he said. If the US is obsessed with suppressing China, it will eventually harm itself." Wang, a 70-year-old veteran diplomat who has earned Xi's trust, returned to the foreign minister's post last summer after his successor, Qin Gang, was abruptly dismissed without explanation after a half year on the job. Analysts had speculated the ruling Communist Party might use

First time in 2 decades, Mexico overtakes China as leading exporter to US

For the first time in more than two decades, Mexico last year surpassed China as the leading source of goods imported to the United States. The shift reflects the growing tensions between Washington and Beijing as well as US efforts to import from countries that are friendlier and closer to home. Figures released Wednesday by the U.S. Commerce Department show that the value of goods imported to the United States from Mexico rose nearly 5% from 2022 to 2023, to more than $475 billion. At the same time, the value of Chinese imports imports tumbled 20% to $427 billion. The last time that Mexican goods imported to the United States exceeded the value of China's imports was in 2002. Economic relations between the United States and China have severely deteriorated in recent years as Beijing has fought aggressively on trade and made ominous military gestures in the Far East. The Trump administration began imposing tariffs on Chinese imports in 2018, arguing that Beijing's trade practices

TikTok CEO Shou Chew grilled by US lawmakers regarding China connections

The grilling was held at a dramatic Senate Judiciary Committee hearing of the CEOs of major tech companies, who faced intense scrutiny over the potential harms of their platforms on teens

Beijing steps up military pressure on Taiwan after US, China announce talks

China sent more than 30 warplanes and a group of navy ships toward Taiwan, the island's defense ministry said Saturday. The military pressure comes on the heels of an announcement that senior American and Chinese representatives were expected to meet in the Thai capital as the two countries seek to cool tensions. The Chinese People's Liberation Army sent 33 aircraft, including SU-30 fighters, and six navy vessels around Taiwan, between 6 am Friday to 6 am Saturday. Of these, 13 warplanes crossed the midline of the Taiwan Strait an unofficial boundary that's considered a buffer between the island and mainland. Taiwan has monitored the situation and employed its own forces in response to the activities. China claims self-ruled Taiwan as its own territory and in recent years has shown is displeasure at political activities in Taiwan by sending military planes and ships. Taiwan said six Chinese balloons either flew over the island or through airspace just north of it days after the ...

US delegation affirms bipartisan support to Taiwan, first since election

A bipartisan delegation from the United States Congress reaffirmed support for Taiwan during a visit Thursday, following the election of its new president. The delegation's visit is the first from US lawmakers to the island since the independence-leaning Democratic Progressive Party won a third-straight term in the Jan 13 presidential election. China, America's chief competitor for global influence, claims Taiwan as its own territory and threatens to use force to bring the self-ruling island under its control. Beijing strongly condemned Lai Ching-te's election and appears set to continue its policy of refusing to engage with the island's government - a practice that's been in place since Tsai Ing-wen's election in 2016. The support of the United States for Taiwan is firm. It's real, and it is 100% bipartisan," US Representative Mario Daz Balart said. Balart, a Florida Republican, was joined by California Democrat Ami Bera. In the 21st century, there's no place for aggressive action