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Chinese Defense
Sharma Ji
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don't fall for this "6th gen" stealth samosas bs just yet,
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I'll take a 3 engined stealth samosa over the samosas from East any day.
Saif
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US further restricts AI chip exports
In recent years, Washington has expanded its efforts to curb exports of state-of-the-art chips to China, which can be used in AI and weapons systems, as Beijing’s tech advancements spark concern among policymakers...
www.newagebd.net
US further restricts AI chip exports
Agence France-Presse . Washington, United States 14 January, 2025, 04:19
The United States unveiled new export rules Monday on chips used for artificial intelligence, furthering efforts to make it tough for China and other rivals to access the advanced technology in Joe Biden’s final days as president.
The restrictions were announced in 2023 on exporting certain AI chips to China, which the United States sees as a strategic competitor. But they drew fiery pushback from Beijing.
In recent years, Washington has expanded its efforts to curb exports of state-of-the-art chips to China, which can be used in AI and weapons systems, as Beijing’s tech advancements spark concern among policymakers.
‘The US leads the world in AI now –– both AI development and AI chip design –– and it's critical that we keep it that way,’ US commerce secretary Gina Raimondo told reporters.
The new rules update controls on chips, requiring authorizations for exports, re-exports and in-country transfers –– while also including a series of exceptions for countries considered friendly to the United States.
AI data centers meanwhile will need to comply with enhanced security parameters to be able to import chips.
China’s commerce ministry called the announcement ‘a flagrant violation’ of international trade rules, vowing that Beijing would ‘firmly safeguard’ its interests.
The latest move also drew industry criticism and warnings that it would hurt US competitiveness.
Semiconductor Industry Association chief executive John Neuffer said, ‘We’re deeply disappointed that a policy shift of this magnitude and impact is being rushed out the door days before a presidential transition and without any meaningful input from industry.’
He added in a statement that the rule could cause ‘lasting damage to America's economy and global competitiveness’ by ceding key markets to rivals.
Chip titan Nvidia said in a blog post that ‘while cloaked in the guise of an “anti-China” measure, these rules would do nothing to enhance US security.’
The rules make it ‘hard for our strategic competitors to use smuggling and remote access to evade our export control,’ White House national security adviser Jake Sullivan said.
They also create ‘incentives for our friends and partners around the world to use trusted vendors for advanced AI,’ he added.
The new rules will take effect in 120 days, Raimondo said, giving the incoming administration of president-elect Donald Trump time to potentially make changes.
Freezing the rule, however, could backfire as it risks allowing China to stockpile US hardware or set up facilities in third countries, a senior US official told reporters.
And the Computer & Communications Industry Association cautioned that the rule will hamper the ability of US firms to deploy advanced semiconductors in data centers abroad.
In its post, Nvidia stressed that the first Trump term showed how the United States ‘wins through innovation, competition and by sharing our technologies with the world –– not by retreating behind a wall of government overreach.’
Trump put heavy tariffs on China during his first presidential term.
But his backers in Silicon Valley could also see the rules as an undue burden on their ability to export products.
On Monday, Nvidia shares slid 2.7 per cent around midday, while Intel shares lost 0.3 per cent.
The Information Technology and Innovation Foundation said that pressuring countries to choose between Washington and Beijing could alienate partners and boost China’s position in the global AI ecosystem.
‘Many countries may opt for the side offering them uninterrupted access to the AI technologies vital for their economic growth and digital futures,’ said ITIF vice-president Daniel Castro.
Agence France-Presse . Washington, United States 14 January, 2025, 04:19
The United States unveiled new export rules Monday on chips used for artificial intelligence, furthering efforts to make it tough for China and other rivals to access the advanced technology in Joe Biden’s final days as president.
The restrictions were announced in 2023 on exporting certain AI chips to China, which the United States sees as a strategic competitor. But they drew fiery pushback from Beijing.
In recent years, Washington has expanded its efforts to curb exports of state-of-the-art chips to China, which can be used in AI and weapons systems, as Beijing’s tech advancements spark concern among policymakers.
‘The US leads the world in AI now –– both AI development and AI chip design –– and it's critical that we keep it that way,’ US commerce secretary Gina Raimondo told reporters.
The new rules update controls on chips, requiring authorizations for exports, re-exports and in-country transfers –– while also including a series of exceptions for countries considered friendly to the United States.
AI data centers meanwhile will need to comply with enhanced security parameters to be able to import chips.
China’s commerce ministry called the announcement ‘a flagrant violation’ of international trade rules, vowing that Beijing would ‘firmly safeguard’ its interests.
The latest move also drew industry criticism and warnings that it would hurt US competitiveness.
Semiconductor Industry Association chief executive John Neuffer said, ‘We’re deeply disappointed that a policy shift of this magnitude and impact is being rushed out the door days before a presidential transition and without any meaningful input from industry.’
He added in a statement that the rule could cause ‘lasting damage to America's economy and global competitiveness’ by ceding key markets to rivals.
Chip titan Nvidia said in a blog post that ‘while cloaked in the guise of an “anti-China” measure, these rules would do nothing to enhance US security.’
The rules make it ‘hard for our strategic competitors to use smuggling and remote access to evade our export control,’ White House national security adviser Jake Sullivan said.
They also create ‘incentives for our friends and partners around the world to use trusted vendors for advanced AI,’ he added.
The new rules will take effect in 120 days, Raimondo said, giving the incoming administration of president-elect Donald Trump time to potentially make changes.
Freezing the rule, however, could backfire as it risks allowing China to stockpile US hardware or set up facilities in third countries, a senior US official told reporters.
And the Computer & Communications Industry Association cautioned that the rule will hamper the ability of US firms to deploy advanced semiconductors in data centers abroad.
In its post, Nvidia stressed that the first Trump term showed how the United States ‘wins through innovation, competition and by sharing our technologies with the world –– not by retreating behind a wall of government overreach.’
Trump put heavy tariffs on China during his first presidential term.
But his backers in Silicon Valley could also see the rules as an undue burden on their ability to export products.
On Monday, Nvidia shares slid 2.7 per cent around midday, while Intel shares lost 0.3 per cent.
The Information Technology and Innovation Foundation said that pressuring countries to choose between Washington and Beijing could alienate partners and boost China’s position in the global AI ecosystem.
‘Many countries may opt for the side offering them uninterrupted access to the AI technologies vital for their economic growth and digital futures,’ said ITIF vice-president Daniel Castro.
Saif
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US bans imports from dozens of Chinese firms
The US Department of Homeland Security said on Tuesday that it was adding 37 entities to the Uyghur Forced Labour Prevention Act entity list, bringing its total to nearly 150...
www.newagebd.net
US bans imports from dozens of Chinese firms
Agence France-Presse . Washington, United States 15 January, 2025, 03:46
The United States has banned imports from dozens of China-based companies over alleged ties to forced labour, targeting firms in the mining, textiles and solar industries.
The US Department of Homeland Security said on Tuesday that it was adding 37 entities to the Uyghur Forced Labour Prevention Act entity list, bringing its total to nearly 150.
The additions mean goods wholly or partially made by these firms will be restricted from entering the United States.
Through the action, ‘we again demonstrate our relentless fight against the cruelty of forced labour, our unwavering commitment to basic human rights, and our tireless defense of a free, fair, and competitive market,’ said secretary of homeland security Alejandro Mayorkas.
The department added that this was the ‘largest single expansion of the list.’
The entities added include companies mining and processing critical minerals from Xinjiang, where Beijing has been accused of incarcerating over one million Uyghurs and other Muslim minorities in a network of detention facilities.
Chinese officials strongly deny these claims.
The additions also include companies growing Xinjiang cotton and manufacturing textiles for global export, alongside those producing inputs for solar modules using polysilicon made in the region.
The companies affected include Zijin Mining Group and its subsidiaries in Xinjiang, alongside Huafu Fashion and 25 of its subsidiaries.
The Department of Homeland Security noted that entities added have been ‘linked to forced labor practices.’
The Uyghur Forced Labor Prevention Act was signed into law in 2021.
Agence France-Presse . Washington, United States 15 January, 2025, 03:46
The United States has banned imports from dozens of China-based companies over alleged ties to forced labour, targeting firms in the mining, textiles and solar industries.
The US Department of Homeland Security said on Tuesday that it was adding 37 entities to the Uyghur Forced Labour Prevention Act entity list, bringing its total to nearly 150.
The additions mean goods wholly or partially made by these firms will be restricted from entering the United States.
Through the action, ‘we again demonstrate our relentless fight against the cruelty of forced labour, our unwavering commitment to basic human rights, and our tireless defense of a free, fair, and competitive market,’ said secretary of homeland security Alejandro Mayorkas.
The department added that this was the ‘largest single expansion of the list.’
The entities added include companies mining and processing critical minerals from Xinjiang, where Beijing has been accused of incarcerating over one million Uyghurs and other Muslim minorities in a network of detention facilities.
Chinese officials strongly deny these claims.
The additions also include companies growing Xinjiang cotton and manufacturing textiles for global export, alongside those producing inputs for solar modules using polysilicon made in the region.
The companies affected include Zijin Mining Group and its subsidiaries in Xinjiang, alongside Huafu Fashion and 25 of its subsidiaries.
The Department of Homeland Security noted that entities added have been ‘linked to forced labor practices.’
The Uyghur Forced Labor Prevention Act was signed into law in 2021.
Saif
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Trump and Xi speak on the phone ahead of the inauguration, China’s foreign ministry says
US President-elect Donald Trump and Chinese leader Xi Jinping were speaking on the phone late Friday, China’s Foreign Ministry said in a statement. The conversation comes ahead of Trump’s inauguration on Monday. The US-China relationship is expected to be one of the main focuses of Tru
Trump and Xi speak on the phone ahead of the inauguration, China’s foreign ministry says
AP
Published :
Jan 17, 2025 20:43
Updated :
Jan 17, 2025 20:43
A combination of file photos showing Chinese President Xi Jinping (L) and US President-elect Donald Trump — Reuters/File
US President-elect Donald Trump and Chinese leader Xi Jinping were speaking on the phone late Friday, China’s Foreign Ministry said in a statement.
The conversation comes ahead of Trump’s inauguration on Monday. The US-China relationship is expected to be one of the main focuses of Trump’s second term, with tensions between the two superpowers looming in the areas of trade, technology and the self-ruled island of Taiwan, among other things.
Trump has threatened to slap tariffs of 60 per cent on all Chinese imports into the US, but he has also in the past praised his relationship with Xi and has suggested China could help mediate international crises such as the war in Ukraine.
Xi will not attend Trump’s inauguration. China will be represented at the event by Vice President Han Zheng.
AP
Published :
Jan 17, 2025 20:43
Updated :
Jan 17, 2025 20:43
A combination of file photos showing Chinese President Xi Jinping (L) and US President-elect Donald Trump — Reuters/File
US President-elect Donald Trump and Chinese leader Xi Jinping were speaking on the phone late Friday, China’s Foreign Ministry said in a statement.
The conversation comes ahead of Trump’s inauguration on Monday. The US-China relationship is expected to be one of the main focuses of Trump’s second term, with tensions between the two superpowers looming in the areas of trade, technology and the self-ruled island of Taiwan, among other things.
Trump has threatened to slap tariffs of 60 per cent on all Chinese imports into the US, but he has also in the past praised his relationship with Xi and has suggested China could help mediate international crises such as the war in Ukraine.
Xi will not attend Trump’s inauguration. China will be represented at the event by Vice President Han Zheng.
Saif
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Trump raises prospects for a negotiated reset on US-China ties
Donald Trump unexpectedly held off tariffs on China on his first day back at the White House and did not single it out as a threat, raising the prospect of a rapprochement as both sides look to gain from each other rather than rain harm on an adversary.
Trump raises prospects for a negotiated reset on US-China ties
Donald Trump unexpectedly held off tariffs on China on his first day back at the White House and did not single it out as a threat, raising the prospect of a rapprochement as both sides look to gain from each other rather than rain harm on an adversary.
In a speech after his inauguration, the US president refrained from mentioning China, its erstwhile opponent in a previous trade war, even as he said tariffs would make the United States "rich as hell", leaving the door open for fresh negotiations with the world's second-largest economy.
Trump also delayed the ban on China-owned short-video app TikTok, but in an unprecedented move, suggested that the US should be a half owner of TikTok's US business in return for keeping the app alive, saying the company could be worth hundreds of billions of dollars.
As Trump begins his second term, Beijing and Washington find themselves needing a new roadmap to advance their goals and guard their interests, analysts say, although previously unresolved issues such as the 2020 trade deal could jar the currently cordial undertones.
During his first term, Trump quickly struck up a relationship with Chinese President Xi Jinping. Both men lavishly hosted each other in Florida and Beijing. But that did not stop ties deteriorating into a trade war that unleashed a series of tit-for-tat tariffs and uprooted global supply chains.
Neither side appears interested in picking up where they left off, however, with signs pointing to the negotiation table instead.
Donald Trump unexpectedly held off tariffs on China on his first day back at the White House and did not single it out as a threat, raising the prospect of a rapprochement as both sides look to gain from each other rather than rain harm on an adversary.
In a speech after his inauguration, the US president refrained from mentioning China, its erstwhile opponent in a previous trade war, even as he said tariffs would make the United States "rich as hell", leaving the door open for fresh negotiations with the world's second-largest economy.
Trump also delayed the ban on China-owned short-video app TikTok, but in an unprecedented move, suggested that the US should be a half owner of TikTok's US business in return for keeping the app alive, saying the company could be worth hundreds of billions of dollars.
As Trump begins his second term, Beijing and Washington find themselves needing a new roadmap to advance their goals and guard their interests, analysts say, although previously unresolved issues such as the 2020 trade deal could jar the currently cordial undertones.
During his first term, Trump quickly struck up a relationship with Chinese President Xi Jinping. Both men lavishly hosted each other in Florida and Beijing. But that did not stop ties deteriorating into a trade war that unleashed a series of tit-for-tat tariffs and uprooted global supply chains.
Neither side appears interested in picking up where they left off, however, with signs pointing to the negotiation table instead.
Lulldapull
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Why would the US/ UK/ Canada/ EU/ Australia sabotage their relations with China? Its a $2 trillion annual symbiotic relationship for cheap Walmart/ Target/ TJ Max type of goods no?
Until Indian, Vietnamese, Indonesiands/ malaysiandz pick up the cheap consumer goods manufacturing mantle, till then the US is powerless to act against China.
Until Indian, Vietnamese, Indonesiands/ malaysiandz pick up the cheap consumer goods manufacturing mantle, till then the US is powerless to act against China.
Saif
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Weak yuan, Trump tariff threats confound Beijing’s economic puzzle
Higher US tariffs under President Donald Trump could accelerate a slump in the value of China’s currency, complicating recent efforts by Beijing to kickstart a rebound in its struggling economy, analysts warn.
Weak yuan, Trump tariff threats confound Beijing’s economic puzzle
An employee counts 100 Chinese yuan banknotes at a bank in Hefei of Anhui province. Photo: REUTERS/FILE
Higher US tariffs under President Donald Trump could accelerate a slump in the value of China's currency, complicating recent efforts by Beijing to kickstart a rebound in its struggling economy, analysts warn.
Just days after beginning his second term in the White House last week, Trump said he would impose a 10 percent levy on all Chinese products from February 1, while leaving the door open for negotiations.
If implemented, the duties will likely exacerbate the yuan's weakness, just as Chinese leaders work to shore up an economy beset with challenges including sluggish domestic consumption and a prolonged debt crisis in the property sector.
Economists say this year could see the yuan fall to the lowest level against the US dollar since Beijing scrapped its fixed exchange rate two decades ago.
"The combination of looming tariffs, looser monetary policy and a slower pace of rate cuts in the United States will weaken the yuan," said Harry Murphy Cruise, an economist at Moody's Analytics. A depreciated currency enhances the competitiveness of exporters by lowering the prices of their goods and services overseas.
This could encourage Beijing to allow the yuan to decline further in order to support its foreign trade and reduce deflationary pressure at home, notes Alicia Garcia Herrero of Natixis.
But a weaker yuan "could exacerbate trade tensions with the United States, hindering negotiations to bring tariffs back down", said Murphy Cruise.
He added that a "rapid drop" in its value could trigger large-scale capital outflows, similar to those that occurred in 2015 as uncertainty regarding China's economy swirled.
Above all, a major depreciation would run counter to the strategic objective of President Xi Jinping to ensure a "strong currency" and make China a "financial power".
But a stronger yuan would require sacrificing China's currency advantage in trade -- a vital lifeline for the economy at a time of sluggish domestic spending.
"It is a Catch-22 situation," wrote Garcia Herrero.
For now, Beijing's strategy is to prioritise the yuan's stability, with the ambition of ultimately making it a major global reserve currency, analysts from Macquarie Group noted.
The exchange rate could slide to 7.45 yuan per dollar by the end of 2025, from 7.24 currently, noted Murphy Cruise.
While China's central bank cannot put a full halt to the yuan's slump, it "will likely intervene in the foreign exchange markets to ensure that the depreciation... is gradual", he said.
Surpassing the symbolic marker of 7.5 yuan per dollar could cause "panic", sparking an even more rapid spiral, Wang Guo-Chen of the Taiwan-based Chung-Hua Institution for Economic Research told AFP.
Authorities may initially orchestrate a slight devaluation in response to US tariffs, but "they will eventually pull back" he said.
The People's Bank of China (PBoC) has recently introduced what it hopes will be hefty support for the yuan, including the issuance of six-month central bank bills in Hong Kong totalling a record 60 billion yuan.
The PBoC has also recently injected tens of billions of dollars into financial circuits in order to stabilise markets and prevent activity from screeching to a halt during the Lunar New Year.
But such moves may come into conflict with Beijing's efforts elsewhere to boost an economy that is struggling to regain momentum.
"It's a very tricky balance: if domestic liquidity is increased, the currency will depreciate," said Wang.
The PBoC's approach so far has been to alternate between liquidity injections and withdrawals, he told AFP.
Beijing has pledged to continue providing major economic support for the domestic economy in 2025, boosting fiscal stimulus and encouraging consumption through measures such as subsidies for household goods.
But the spectre of heightened trade tensions with the United States continues to darken the horizon.
"Domestic consumption sentiment is unlikely to improve meaningfully amid trade disputes," warned Kiyong Seong, macro strategist at Societe Generale.
An employee counts 100 Chinese yuan banknotes at a bank in Hefei of Anhui province. Photo: REUTERS/FILE
Higher US tariffs under President Donald Trump could accelerate a slump in the value of China's currency, complicating recent efforts by Beijing to kickstart a rebound in its struggling economy, analysts warn.
Just days after beginning his second term in the White House last week, Trump said he would impose a 10 percent levy on all Chinese products from February 1, while leaving the door open for negotiations.
If implemented, the duties will likely exacerbate the yuan's weakness, just as Chinese leaders work to shore up an economy beset with challenges including sluggish domestic consumption and a prolonged debt crisis in the property sector.
Economists say this year could see the yuan fall to the lowest level against the US dollar since Beijing scrapped its fixed exchange rate two decades ago.
"The combination of looming tariffs, looser monetary policy and a slower pace of rate cuts in the United States will weaken the yuan," said Harry Murphy Cruise, an economist at Moody's Analytics. A depreciated currency enhances the competitiveness of exporters by lowering the prices of their goods and services overseas.
This could encourage Beijing to allow the yuan to decline further in order to support its foreign trade and reduce deflationary pressure at home, notes Alicia Garcia Herrero of Natixis.
But a weaker yuan "could exacerbate trade tensions with the United States, hindering negotiations to bring tariffs back down", said Murphy Cruise.
He added that a "rapid drop" in its value could trigger large-scale capital outflows, similar to those that occurred in 2015 as uncertainty regarding China's economy swirled.
Above all, a major depreciation would run counter to the strategic objective of President Xi Jinping to ensure a "strong currency" and make China a "financial power".
But a stronger yuan would require sacrificing China's currency advantage in trade -- a vital lifeline for the economy at a time of sluggish domestic spending.
"It is a Catch-22 situation," wrote Garcia Herrero.
For now, Beijing's strategy is to prioritise the yuan's stability, with the ambition of ultimately making it a major global reserve currency, analysts from Macquarie Group noted.
The exchange rate could slide to 7.45 yuan per dollar by the end of 2025, from 7.24 currently, noted Murphy Cruise.
While China's central bank cannot put a full halt to the yuan's slump, it "will likely intervene in the foreign exchange markets to ensure that the depreciation... is gradual", he said.
Surpassing the symbolic marker of 7.5 yuan per dollar could cause "panic", sparking an even more rapid spiral, Wang Guo-Chen of the Taiwan-based Chung-Hua Institution for Economic Research told AFP.
Authorities may initially orchestrate a slight devaluation in response to US tariffs, but "they will eventually pull back" he said.
The People's Bank of China (PBoC) has recently introduced what it hopes will be hefty support for the yuan, including the issuance of six-month central bank bills in Hong Kong totalling a record 60 billion yuan.
The PBoC has also recently injected tens of billions of dollars into financial circuits in order to stabilise markets and prevent activity from screeching to a halt during the Lunar New Year.
But such moves may come into conflict with Beijing's efforts elsewhere to boost an economy that is struggling to regain momentum.
"It's a very tricky balance: if domestic liquidity is increased, the currency will depreciate," said Wang.
The PBoC's approach so far has been to alternate between liquidity injections and withdrawals, he told AFP.
Beijing has pledged to continue providing major economic support for the domestic economy in 2025, boosting fiscal stimulus and encouraging consumption through measures such as subsidies for household goods.
But the spectre of heightened trade tensions with the United States continues to darken the horizon.
"Domestic consumption sentiment is unlikely to improve meaningfully amid trade disputes," warned Kiyong Seong, macro strategist at Societe Generale.
Saif
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China’s DeepSeek AI a ‘wakeup call’ for US tech firms
US President Donald Trump said on Monday that Chinese start-up DeepSeek's technology should act as spur for American companies and said it was good that companies in China have come up with a cheaper, faster method of artificial intelligence.
China’s DeepSeek AI a ‘wakeup call’ for US tech firms
Warns Trump, takes aim at DEI, Covid expulsions, transgender troops
Warns Trump, takes aim at DEI, Covid expulsions, transgender troops
- Trump orders planning for 'Iron Dome' missile shield for US
- His admin fires justice dept lawyers who investigated him
US President Donald Trump said on Monday that Chinese start-up DeepSeek's technology should act as spur for American companies and said it was good that companies in China have come up with a cheaper, faster method of artificial intelligence.
"The release of DeepSeek, AI from a Chinese company should be a wakeup call for our industries that we need to be laser-focused on competing to win," Trump said in Florida.
"I've been reading about China and some of the companies in China, one in particular coming up with a faster method of AI and much less expensive method, and that's good because you don't have to spend as much money. I view that as a positive, as an asset," Trump said.
"I view that as a positive because you'll be doing that too, so you won't be spending as much, and you'll get the same result, hopefully," he said.
Trump also signed a series of executive orders on Monday to remove diversity, equity and inclusion (DEI) from the military, reinstate thousands of troops who were kicked out for refusing Covid-19 vaccines during the pandemic, and take aim at transgender troops.
Earlier on Monday, Pete Hegseth, who narrowly secured enough votes to become defence secretary, referred to the names of Confederate generals that were once used for two key bases during his remarks to reporters as he entered the Pentagon on his first full day on the job.
Trump signed the executive orders while flying back from Miami to Washington DC.
One of the executive orders signed by Trump said that expressing a "gender identity" different from an individual's sex at birth did not meet military standards.
While the order banned the use of "invented" pronouns in the military, it did not answer basic questions including whether transgender soldiers currently serving in the military would be allowed to stay and, if not, how they would be removed.
Trump's plans have been heavily criticised by advocacy groups, which say his actions would be illegal.
"President Trump has made clear that a key priority for his administration is driving transgender people back into the closet and out of public life altogether," Joshua Block, with the ACLU, said earlier on Monday.
Trump also signed an executive order that "mandated a process to develop an 'American Iron Dome'."
The short-range Iron Dome air defense system was built by Israel's Rafael Advanced Defense Systems with US backing, and was built to intercept rockets fired by the Palestinian Islamist movement Hamas in Gaza towards Israel.
Trump's administration on Monday fired more than a dozen Justice Department lawyers who brought two criminal cases against him, an official said.
The officials were fired after Acting Attorney General James McHenry, a Trump appointee, concluded they "could not be trusted to faithfully implement the President's agenda because of their significant role in prosecuting the President," a Justice Department official said.
"The release of DeepSeek, AI from a Chinese company should be a wakeup call for our industries that we need to be laser-focused on competing to win," Trump said in Florida.
"I've been reading about China and some of the companies in China, one in particular coming up with a faster method of AI and much less expensive method, and that's good because you don't have to spend as much money. I view that as a positive, as an asset," Trump said.
"I view that as a positive because you'll be doing that too, so you won't be spending as much, and you'll get the same result, hopefully," he said.
Trump also signed a series of executive orders on Monday to remove diversity, equity and inclusion (DEI) from the military, reinstate thousands of troops who were kicked out for refusing Covid-19 vaccines during the pandemic, and take aim at transgender troops.
Earlier on Monday, Pete Hegseth, who narrowly secured enough votes to become defence secretary, referred to the names of Confederate generals that were once used for two key bases during his remarks to reporters as he entered the Pentagon on his first full day on the job.
Trump signed the executive orders while flying back from Miami to Washington DC.
One of the executive orders signed by Trump said that expressing a "gender identity" different from an individual's sex at birth did not meet military standards.
While the order banned the use of "invented" pronouns in the military, it did not answer basic questions including whether transgender soldiers currently serving in the military would be allowed to stay and, if not, how they would be removed.
Trump's plans have been heavily criticised by advocacy groups, which say his actions would be illegal.
"President Trump has made clear that a key priority for his administration is driving transgender people back into the closet and out of public life altogether," Joshua Block, with the ACLU, said earlier on Monday.
Trump also signed an executive order that "mandated a process to develop an 'American Iron Dome'."
The short-range Iron Dome air defense system was built by Israel's Rafael Advanced Defense Systems with US backing, and was built to intercept rockets fired by the Palestinian Islamist movement Hamas in Gaza towards Israel.
Trump's administration on Monday fired more than a dozen Justice Department lawyers who brought two criminal cases against him, an official said.
The officials were fired after Acting Attorney General James McHenry, a Trump appointee, concluded they "could not be trusted to faithfully implement the President's agenda because of their significant role in prosecuting the President," a Justice Department official said.
Lulldapull
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Evidently the Chinese are graduating three times as many people in STEM than the US annually for the last generation now. You can see its results today.China’s DeepSeek AI a ‘wakeup call’ for US tech firms
US President Donald Trump said on Monday that Chinese start-up DeepSeek's technology should act as spur for American companies and said it was good that companies in China have come up with a cheaper, faster method of artificial intelligence.www.thedailystar.net
China’s DeepSeek AI a ‘wakeup call’ for US tech firms
Warns Trump, takes aim at DEI, Covid expulsions, transgender troops
View attachment 13772
"The release of DeepSeek, AI from a Chinese company should be a wakeup call for our industries that we need to be laser-focused on competing to win," Trump said in Florida.
"I've been reading about China and some of the companies in China, one in particular coming up with a faster method of AI and much less expensive method, and that's good because you don't have to spend as much money. I view that as a positive, as an asset," Trump said.
"I view that as a positive because you'll be doing that too, so you won't be spending as much, and you'll get the same result, hopefully," he said.
Trump also signed a series of executive orders on Monday to remove diversity, equity and inclusion (DEI) from the military, reinstate thousands of troops who were kicked out for refusing Covid-19 vaccines during the pandemic, and take aim at transgender troops.
Earlier on Monday, Pete Hegseth, who narrowly secured enough votes to become defence secretary, referred to the names of Confederate generals that were once used for two key bases during his remarks to reporters as he entered the Pentagon on his first full day on the job.
Trump signed the executive orders while flying back from Miami to Washington DC.
One of the executive orders signed by Trump said that expressing a "gender identity" different from an individual's sex at birth did not meet military standards.
While the order banned the use of "invented" pronouns in the military, it did not answer basic questions including whether transgender soldiers currently serving in the military would be allowed to stay and, if not, how they would be removed.
Trump's plans have been heavily criticised by advocacy groups, which say his actions would be illegal.
"President Trump has made clear that a key priority for his administration is driving transgender people back into the closet and out of public life altogether," Joshua Block, with the ACLU, said earlier on Monday.
Trump also signed an executive order that "mandated a process to develop an 'American Iron Dome'."
The short-range Iron Dome air defense system was built by Israel's Rafael Advanced Defense Systems with US backing, and was built to intercept rockets fired by the Palestinian Islamist movement Hamas in Gaza towards Israel.
Trump's administration on Monday fired more than a dozen Justice Department lawyers who brought two criminal cases against him, an official said.
The officials were fired after Acting Attorney General James McHenry, a Trump appointee, concluded they "could not be trusted to faithfully implement the President's agenda because of their significant role in prosecuting the President," a Justice Department official said.
The entire tech sector in the US too is full of colored peepal bhai, mostly Chinese and Indians.
There is not much else left to say on this.
The US has to get along with China and eventually admit and accept that China's ascendancy in tech/ innovation is a reality.
Saif
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I concur with you.
Saif
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China 'firmly opposes' new US tariffs, vows 'countermeasures'
Beijing would file a lawsuit at the WTO, arguing that "the unilateral imposition of tariffs by the United States seriously violates WTO rules".
en.prothomalo.com
China 'firmly opposes' new US tariffs, vows 'countermeasures'
AFP
Beijing
Published: 02 Feb 2025, 10: 18
In this file China`s president Xi Jinping (R) shakes hands with US president Donald Trump before a bilateral meeting on the sidelines of the G20 Summit in Osaka on 29 June. Asian investors await for a US-China trade deal details.AFP
China said Sunday it "firmly opposes" new tariffs imposed on Beijing by US President Donald Trump, vowing to take "corresponding countermeasures to resolutely safeguard our own rights and interests".
Unveiling sweeping measures against major trade partners on Saturday, Trump announced an additional 10 per cent tariff on Chinese imports on top of existing duties.
In a statement on Sunday, China's commerce ministry slammed Washington's "erroneous practices", saying Beijing was "strongly dissatisfied with this and firmly opposes it".
The ministry said Beijing would file a lawsuit at the World Trade Organization, arguing that "the unilateral imposition of tariffs by the United States seriously violates WTO rules".
It added that the duties were "not only unhelpful in solving the US's own problems, but also undermine normal economic and trade cooperation".
"China hopes that the United States will objectively and rationally view and deal with its own issues like fentanyl, rather than threatening other countries with tariffs at every turn," the ministry said.
It said Beijing "urges the US to correct its erroneous practices, meet China halfway, face up to its problems, have frank dialogues, strengthen cooperation and manage differences on the basis of equality, mutual benefit and mutual respect".
In a separate statement, China's foreign ministry said "there are no winners in a trade war or tariff war".
"The practice of imposing additional tariffs is not constructive and will inevitably affect and damage future bilateral cooperation on drug control," a ministry spokesperson said.
AFP
Beijing
Published: 02 Feb 2025, 10: 18
In this file China`s president Xi Jinping (R) shakes hands with US president Donald Trump before a bilateral meeting on the sidelines of the G20 Summit in Osaka on 29 June. Asian investors await for a US-China trade deal details.AFP
China said Sunday it "firmly opposes" new tariffs imposed on Beijing by US President Donald Trump, vowing to take "corresponding countermeasures to resolutely safeguard our own rights and interests".
Unveiling sweeping measures against major trade partners on Saturday, Trump announced an additional 10 per cent tariff on Chinese imports on top of existing duties.
In a statement on Sunday, China's commerce ministry slammed Washington's "erroneous practices", saying Beijing was "strongly dissatisfied with this and firmly opposes it".
The ministry said Beijing would file a lawsuit at the World Trade Organization, arguing that "the unilateral imposition of tariffs by the United States seriously violates WTO rules".
It added that the duties were "not only unhelpful in solving the US's own problems, but also undermine normal economic and trade cooperation".
"China hopes that the United States will objectively and rationally view and deal with its own issues like fentanyl, rather than threatening other countries with tariffs at every turn," the ministry said.
It said Beijing "urges the US to correct its erroneous practices, meet China halfway, face up to its problems, have frank dialogues, strengthen cooperation and manage differences on the basis of equality, mutual benefit and mutual respect".
In a separate statement, China's foreign ministry said "there are no winners in a trade war or tariff war".
"The practice of imposing additional tariffs is not constructive and will inevitably affect and damage future bilateral cooperation on drug control," a ministry spokesperson said.
Saif
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China holds out hope last-minute deal can avert US trade war
1China’s new tariffs on US imports like oil, coal and cars are relatively modest in scale, suggesting that Beijing is hoping for a last-minute deal but also giving them the option to inflict more pain if needed, analysts say.
China holds out hope last-minute deal can avert US trade war
The aerial photo shows cars for export parked at a port in Lianyungang, in eastern China’s Jiangsu province. Photo: AFP
1China's new tariffs on US imports like oil, coal and cars are relatively modest in scale, suggesting that Beijing is hoping for a last-minute deal but also giving them the option to inflict more pain if needed, analysts say.
China on Tuesday fired a return salvo in its escalating trade war with the United States, slapping fresh tariffs on everything from American crude oil to agricultural machinery.
The moves hit roughly $20 billion worth of US goods per year -- roughly 12 percent of total American imports into China, according to calculations by Capital Economics.
Over a third of that is energy: according to Beijing customs data, imports of oil, coal and LNG totalled more than $7 billion last year.
Beijing has also slapped fresh export controls on rare metals and chemicals including tungsten, tellurium, bismuth, indium and molybdenum, used in everything from mining to phone screens.
China dominates global supply chains for rare metals.
The countermeasures came as a surprise to some -- analysts at UBS this week told AFP they had expected Beijing to keep its powder dry.
But they are a far cry from the 10 percent tariffs slapped on all Chinese imports by US President Donald Trump this week that will affect some $450 billion worth of goods.
"The measures are fairly modest, at least relative to US moves," Capital Economics's Julian Evans-Pritchard said.
They "have clearly been calibrated to try to send a message to the US (and domestic audiences) without inflicting too much damage," he added.
That restraint can in part be explained by China's reliance on many US imports for its industries and its longstanding economic woes at home, Agatha Kratz at the Rhodium Group told AFP.
"Given the current economic downturn, China cannot afford -- and does not want -- to impose excessive trade barriers," she said.
"China's economy is in a fragile state, and this limits its ability to act freely," she explained.
"Beijing cannot afford to take reckless actions, and I don't think it wants to."
Far from inflicting deep pain, analysts say Beijing's goal is to send a message to Washington: that China can and will retaliate to swingeing tariffs.
"These tariffs are structured to signal China's capacity to endure prolonged economic confrontation while forcing the US to deal with internal economic pressures," Mingzhi Jimmy Xu, an assistant professor at Peking University, to AFP.
And Beijing can do "serious damage" to the United States should it decide to, Shehzad Qazi from China Beige Book told AFP.
The US remains heavily reliant on China for critical minerals needed to produce electric vehicles, their batteries and other key industrial applications.
Washington has had a flavour of this. In December, Beijing banned exports of metals gallium, antimony and germanium, key components in semiconductors.
That it had chosen not to, analysts say, suggests Beijing is keen to leave the door open to negotiations with Washington that could see the tariffs reversed.
Trump on Monday indicated a call with Chinese counterpart Xi Jinping could be imminent, hinting that a similar volte-face could be in the works.
But he later rolled back that claim, saying he was in "no rush" to speak with the Chinese leader.
Both Mexico and Canada -- hit with 25 percent tariffs over the weekend -- succeeded in securing a 30-day stay in last-minute deals with the US.
Beijing may be hoping for the same kind of agreement -- likely tied to a further commitment to crack down on the trafficking of fentanyl and the ownership of social media app TikTok.
"The Chinese tariffs do not go into effect until five days from now, a long time in Trump world," Wendy Cutler, a former US trade official, said in a note.
But "the question is whether Trump will react in the same way to such threats" from China, Alicia Garcia Herrero at Natixis told AFP.
"If he doubles down, China will have a problem."
The aerial photo shows cars for export parked at a port in Lianyungang, in eastern China’s Jiangsu province. Photo: AFP
1China's new tariffs on US imports like oil, coal and cars are relatively modest in scale, suggesting that Beijing is hoping for a last-minute deal but also giving them the option to inflict more pain if needed, analysts say.
China on Tuesday fired a return salvo in its escalating trade war with the United States, slapping fresh tariffs on everything from American crude oil to agricultural machinery.
The moves hit roughly $20 billion worth of US goods per year -- roughly 12 percent of total American imports into China, according to calculations by Capital Economics.
Over a third of that is energy: according to Beijing customs data, imports of oil, coal and LNG totalled more than $7 billion last year.
Beijing has also slapped fresh export controls on rare metals and chemicals including tungsten, tellurium, bismuth, indium and molybdenum, used in everything from mining to phone screens.
China dominates global supply chains for rare metals.
The countermeasures came as a surprise to some -- analysts at UBS this week told AFP they had expected Beijing to keep its powder dry.
But they are a far cry from the 10 percent tariffs slapped on all Chinese imports by US President Donald Trump this week that will affect some $450 billion worth of goods.
"The measures are fairly modest, at least relative to US moves," Capital Economics's Julian Evans-Pritchard said.
They "have clearly been calibrated to try to send a message to the US (and domestic audiences) without inflicting too much damage," he added.
That restraint can in part be explained by China's reliance on many US imports for its industries and its longstanding economic woes at home, Agatha Kratz at the Rhodium Group told AFP.
"Given the current economic downturn, China cannot afford -- and does not want -- to impose excessive trade barriers," she said.
"China's economy is in a fragile state, and this limits its ability to act freely," she explained.
"Beijing cannot afford to take reckless actions, and I don't think it wants to."
Far from inflicting deep pain, analysts say Beijing's goal is to send a message to Washington: that China can and will retaliate to swingeing tariffs.
"These tariffs are structured to signal China's capacity to endure prolonged economic confrontation while forcing the US to deal with internal economic pressures," Mingzhi Jimmy Xu, an assistant professor at Peking University, to AFP.
And Beijing can do "serious damage" to the United States should it decide to, Shehzad Qazi from China Beige Book told AFP.
The US remains heavily reliant on China for critical minerals needed to produce electric vehicles, their batteries and other key industrial applications.
Washington has had a flavour of this. In December, Beijing banned exports of metals gallium, antimony and germanium, key components in semiconductors.
That it had chosen not to, analysts say, suggests Beijing is keen to leave the door open to negotiations with Washington that could see the tariffs reversed.
Trump on Monday indicated a call with Chinese counterpart Xi Jinping could be imminent, hinting that a similar volte-face could be in the works.
But he later rolled back that claim, saying he was in "no rush" to speak with the Chinese leader.
Both Mexico and Canada -- hit with 25 percent tariffs over the weekend -- succeeded in securing a 30-day stay in last-minute deals with the US.
Beijing may be hoping for the same kind of agreement -- likely tied to a further commitment to crack down on the trafficking of fentanyl and the ownership of social media app TikTok.
"The Chinese tariffs do not go into effect until five days from now, a long time in Trump world," Wendy Cutler, a former US trade official, said in a note.
But "the question is whether Trump will react in the same way to such threats" from China, Alicia Garcia Herrero at Natixis told AFP.
"If he doubles down, China will have a problem."
Lulldapull
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How can there be a trade war without over turning the whole apple cart?
Everything is made in China bhai! Who will fill up millions of those Walmarts and Targets and TJ Max's and Dollar Stores? How will 250 million Americans survive without cheap trinkets and gadgets and consumer goods?
Everything is made in China bhai! Who will fill up millions of those Walmarts and Targets and TJ Max's and Dollar Stores? How will 250 million Americans survive without cheap trinkets and gadgets and consumer goods?
Saif
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Renewed US-China trade war is about tech supremacy too
China's determination to become a major player in this field is evident.
Renewed US-China trade war is about tech supremacy too
FILE VISUAL: REUTERS
The year was 1993. Chinese cargo ship Yinhe, sailing across the Indian Ocean, found its GPS equipment jammed, which depended on the US global satellite navigation system. Soon enough, US Navy ships appeared and wanted to search the vessel. Why? Because Washington suspected it was carrying chemical weapon materials for Iran. After a humiliating three-week standoff with food and water running out, the ship was searched, but no such cargo was found. Deeply humiliated, Beijing resolved that it must have its homegrown technology so such an incident would never be repeated. The outcome is BeiDou—better, bigger, and more advanced than any other satellite navigation system available today.
A similar spirit drives China's ambitions in the satellite broadband race, as ventures like Qianfan (also known as Thousand Sails or G60 Starlink), Guowang, and Geespace (developed by the automotive giant Geely) challenge the dominance of SpaceX's Starlink.
Launched in 2019, Starlink began with the ambitious goal of providing high-speed, low-latency internet coverage to even the most remote corners of the globe. It has steadily grown into a formidable network, with nearly 7,000 satellites already in orbit, and plans to deploy thousands more. It has proven to be of strategic value by providing crucial internet services in the Ukraine war. When terrestrial internet infrastructure was disrupted, Starlink terminals enabled Ukrainian forces to maintain communication, coordinate operations, and gather intelligence. This has highlighted the potential of satellite broadband networks to provide resilient communication channels in conflict zones, a capability that China undoubtedly recognises and seeks to achieve.
China's determination to become a major player in this field is evident. Qianfan, for instance, aims to create a constellation of 13,000 satellites, while Guowang has similar aspirations with its "national-level satellite internet constellation" plan. Geespace focuses on providing services to both the Chinese domestic market and international clients, with a constellation designed to support autonomous driving and other data-intensive applications. These ventures could provide high-speed internet access to underserved and remote areas of China and the world, bridging the digital divide and fostering economic growth. They could also be crucial to China's military and strategic ambitions, providing secure and reliable communications for its armed forces and intelligence agencies. This competition also encompasses the development of satellite jamming technology. Both players are investing in capabilities to disrupt each other's satellite networks while protecting their own.
Despite their ambitions and resources, Chinese ventures face significant technological hurdles. Developing and deploying a massive satellite constellation requires advanced technology in areas like satellite manufacturing, launch capabilities, and network management. The United States Space Command (USSC) reported that Qianfan scattered hundreds of space debris while launching 18 satellites in August last year.
The escalating trade war between Washington and Beijing has made this technological competition more complex. The US's restriction on tech exports to China, specifically designed to hinder the latter's progress in the space race, has continued since Trump's first presidency, followed by Biden's and then Trump's. The crucial role of artificial intelligence adds another layer of complexity to this race, and companies like DeepSeek, at the forefront of AI innovation in China, are poised to become key players. It also raises question about the effectiveness of US's tech sanctions on China: are they spurring China's innovations? Their sophisticated AI algorithms can analyse vast amounts of satellite imagery, enabling enhanced navigation, environmental monitoring, and even national security applications.
Innovative Chinese researchers and companies possess several advantages in the satellite broadband race, including robust government support and substantial financial and policy backing for their ventures. Additionally, China benefits from lower labour and manufacturing costs than the US, providing a significant economic edge. The country also boasts the world's largest internet market, offering a vast potential customer base. Furthermore, China's satellite broadband ambitions align with its military and strategic goals, enabling secure communication for its armed forces and intelligence agencies.
However, China must also overcome several crucial technological barriers, such as designing and manufacturing fast and efficient two-nanometre semiconductors, which Taiwan's TSMC already produces with Washington's active support (in comparison, China's SMIC is making five-nanometre chips for Huawei.) Washington's export controls on sensitive technology could hinder Beijing's progress. Still, such situations often stimulate innovations, as the development of DeepSeek without NVIDIA's most advanced chips has shown (it has recently been questioned, though.)
The implications of this competition are far-reaching. It's not just a commercial contest between companies; it's a strategic rivalry between two superpowers vying for technological supremacy. The outcome will shape the future of communication, global commerce and access to information, and redefine the balance of power in the 21st century.
Dr Sayeed Ahmed is a consulting engineer and the CEO of Bayside Analytix, a technology-focused strategy and management consulting organisation.
FILE VISUAL: REUTERS
The year was 1993. Chinese cargo ship Yinhe, sailing across the Indian Ocean, found its GPS equipment jammed, which depended on the US global satellite navigation system. Soon enough, US Navy ships appeared and wanted to search the vessel. Why? Because Washington suspected it was carrying chemical weapon materials for Iran. After a humiliating three-week standoff with food and water running out, the ship was searched, but no such cargo was found. Deeply humiliated, Beijing resolved that it must have its homegrown technology so such an incident would never be repeated. The outcome is BeiDou—better, bigger, and more advanced than any other satellite navigation system available today.
A similar spirit drives China's ambitions in the satellite broadband race, as ventures like Qianfan (also known as Thousand Sails or G60 Starlink), Guowang, and Geespace (developed by the automotive giant Geely) challenge the dominance of SpaceX's Starlink.
Launched in 2019, Starlink began with the ambitious goal of providing high-speed, low-latency internet coverage to even the most remote corners of the globe. It has steadily grown into a formidable network, with nearly 7,000 satellites already in orbit, and plans to deploy thousands more. It has proven to be of strategic value by providing crucial internet services in the Ukraine war. When terrestrial internet infrastructure was disrupted, Starlink terminals enabled Ukrainian forces to maintain communication, coordinate operations, and gather intelligence. This has highlighted the potential of satellite broadband networks to provide resilient communication channels in conflict zones, a capability that China undoubtedly recognises and seeks to achieve.
China's determination to become a major player in this field is evident. Qianfan, for instance, aims to create a constellation of 13,000 satellites, while Guowang has similar aspirations with its "national-level satellite internet constellation" plan. Geespace focuses on providing services to both the Chinese domestic market and international clients, with a constellation designed to support autonomous driving and other data-intensive applications. These ventures could provide high-speed internet access to underserved and remote areas of China and the world, bridging the digital divide and fostering economic growth. They could also be crucial to China's military and strategic ambitions, providing secure and reliable communications for its armed forces and intelligence agencies. This competition also encompasses the development of satellite jamming technology. Both players are investing in capabilities to disrupt each other's satellite networks while protecting their own.
Despite their ambitions and resources, Chinese ventures face significant technological hurdles. Developing and deploying a massive satellite constellation requires advanced technology in areas like satellite manufacturing, launch capabilities, and network management. The United States Space Command (USSC) reported that Qianfan scattered hundreds of space debris while launching 18 satellites in August last year.
The escalating trade war between Washington and Beijing has made this technological competition more complex. The US's restriction on tech exports to China, specifically designed to hinder the latter's progress in the space race, has continued since Trump's first presidency, followed by Biden's and then Trump's. The crucial role of artificial intelligence adds another layer of complexity to this race, and companies like DeepSeek, at the forefront of AI innovation in China, are poised to become key players. It also raises question about the effectiveness of US's tech sanctions on China: are they spurring China's innovations? Their sophisticated AI algorithms can analyse vast amounts of satellite imagery, enabling enhanced navigation, environmental monitoring, and even national security applications.
Innovative Chinese researchers and companies possess several advantages in the satellite broadband race, including robust government support and substantial financial and policy backing for their ventures. Additionally, China benefits from lower labour and manufacturing costs than the US, providing a significant economic edge. The country also boasts the world's largest internet market, offering a vast potential customer base. Furthermore, China's satellite broadband ambitions align with its military and strategic goals, enabling secure communication for its armed forces and intelligence agencies.
However, China must also overcome several crucial technological barriers, such as designing and manufacturing fast and efficient two-nanometre semiconductors, which Taiwan's TSMC already produces with Washington's active support (in comparison, China's SMIC is making five-nanometre chips for Huawei.) Washington's export controls on sensitive technology could hinder Beijing's progress. Still, such situations often stimulate innovations, as the development of DeepSeek without NVIDIA's most advanced chips has shown (it has recently been questioned, though.)
The implications of this competition are far-reaching. It's not just a commercial contest between companies; it's a strategic rivalry between two superpowers vying for technological supremacy. The outcome will shape the future of communication, global commerce and access to information, and redefine the balance of power in the 21st century.
Dr Sayeed Ahmed is a consulting engineer and the CEO of Bayside Analytix, a technology-focused strategy and management consulting organisation.
Saif
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China condemns Trump's 'tariff shocks' at WTO, US hits back
China condemned tariffs launched or threatened by US President Donald Trump at a World Trade Organization meeting on Tuesday, saying such "tariff shocks" could upend the global trading system in a warning dismissed as hypocritical by Washington. Trump has announced sweeping 10 per cent tariffs on
China condemns Trump's 'tariff shocks' at WTO, US hits back
REUTERS
Published :
Feb 19, 2025 21:30
Updated :
Feb 19, 2025 21:30
A logo is seen at the World Trade Organization (WTO) headquarters before a news conference in Geneva, Switzerland, October 5, 2022. Photo : REUTERS/Denis Balibouse/Files
China condemned tariffs launched or threatened by US President Donald Trump at a World Trade Organization meeting on Tuesday, saying such "tariff shocks" could upend the global trading system in a warning dismissed as hypocritical by Washington.
Trump has announced sweeping 10 per cent tariffs on all Chinese imports, prompting Beijing to respond with retaliatory tariffs and to file a WTO dispute against Washington in what could be an early test of Trump's stance towards the institution.
"These 'Tariff Shocks' heighten economic uncertainty, disrupt global trade, and risk domestic inflation, market distortion, or even global recession," China's ambassador to the WTO Li Chenggang said at a closed-door meeting of the global trade body, according to a statement sent to Reuters.
"Worse, the US unilateralism threatens to upend the rules-based multilateral trading system."
US envoy David Bisbee took the floor in response, calling China's economy a "predatory non-market economic system".
"It is now more than two decades since China joined the WTO, and it is clear that China has not lived up to the bargain that it struck with WTO Members when it acceded," he said. "During this period, China has produced a long record of violating, disregarding, and evading WTO rules," he added.
Only a handful of other states joined the debate, according to two trade sources who attended the meeting. Some of them expressed deep concern that tariffs pose a risk to the stability of the global trading system while others criticised China for alleged market distortions, the sources said.
WTO Director-General Ngozi Okonjo-Iweala also addressed the room and reiterated a call for calm. "The WTO was created precisely to manage times like these - to provide a space for dialogue, prevent conflicts from spiralling, and support an open, predictable trading environment," she said.
The WTO discussion, which began late on Tuesday and continues Wednesday, is the first time that mounting trade frictions were formally addressed on the agenda of the watchdog's top decision-making body, the General Council.
NEGOTIATING TACTIC
Less than being a swipe at Washington, some delegates said they considered China's intervention more as an effort to show itself as supporting WTO rules - a posture that can help China win allies in ongoing global trade negotiations.
Disputes between the two top economies at the WTO long pre-date Trump's arrival. Beijing has accused Washington of breaking rules while Washington says Beijing does not deserve its "developing country" status which entitles it to special treatment under WTO rules.
As the Trump administration has announced plans to withdraw or disengage from other global organisations, the WTO has not yet been a major focus for the White House.
However, incoming US Trade Representative Jamieson Greer has called the WTO "deeply flawed".
REUTERS
Published :
Feb 19, 2025 21:30
Updated :
Feb 19, 2025 21:30
A logo is seen at the World Trade Organization (WTO) headquarters before a news conference in Geneva, Switzerland, October 5, 2022. Photo : REUTERS/Denis Balibouse/Files
China condemned tariffs launched or threatened by US President Donald Trump at a World Trade Organization meeting on Tuesday, saying such "tariff shocks" could upend the global trading system in a warning dismissed as hypocritical by Washington.
Trump has announced sweeping 10 per cent tariffs on all Chinese imports, prompting Beijing to respond with retaliatory tariffs and to file a WTO dispute against Washington in what could be an early test of Trump's stance towards the institution.
"These 'Tariff Shocks' heighten economic uncertainty, disrupt global trade, and risk domestic inflation, market distortion, or even global recession," China's ambassador to the WTO Li Chenggang said at a closed-door meeting of the global trade body, according to a statement sent to Reuters.
"Worse, the US unilateralism threatens to upend the rules-based multilateral trading system."
US envoy David Bisbee took the floor in response, calling China's economy a "predatory non-market economic system".
"It is now more than two decades since China joined the WTO, and it is clear that China has not lived up to the bargain that it struck with WTO Members when it acceded," he said. "During this period, China has produced a long record of violating, disregarding, and evading WTO rules," he added.
Only a handful of other states joined the debate, according to two trade sources who attended the meeting. Some of them expressed deep concern that tariffs pose a risk to the stability of the global trading system while others criticised China for alleged market distortions, the sources said.
WTO Director-General Ngozi Okonjo-Iweala also addressed the room and reiterated a call for calm. "The WTO was created precisely to manage times like these - to provide a space for dialogue, prevent conflicts from spiralling, and support an open, predictable trading environment," she said.
The WTO discussion, which began late on Tuesday and continues Wednesday, is the first time that mounting trade frictions were formally addressed on the agenda of the watchdog's top decision-making body, the General Council.
NEGOTIATING TACTIC
Less than being a swipe at Washington, some delegates said they considered China's intervention more as an effort to show itself as supporting WTO rules - a posture that can help China win allies in ongoing global trade negotiations.
Disputes between the two top economies at the WTO long pre-date Trump's arrival. Beijing has accused Washington of breaking rules while Washington says Beijing does not deserve its "developing country" status which entitles it to special treatment under WTO rules.
As the Trump administration has announced plans to withdraw or disengage from other global organisations, the WTO has not yet been a major focus for the White House.
However, incoming US Trade Representative Jamieson Greer has called the WTO "deeply flawed".
Saif
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Trump says trade deal with China ‘possible’
US president Donald Trump suggested on Wednesday that a trade deal was ‘possible’ with China — a key target in the US leader’s tariffs policy...
www.newagebd.net
Trump says trade deal with China ‘possible’
Agence France-Presse . Washington 20 February, 2025, 23:48
Donald Trump. | AFP file photo
US president Donald Trump suggested on Wednesday that a trade deal was ‘possible’ with China — a key target in the US leader’s tariffs policy.
In 2020, the United States had already agreed to ‘a great trade deal with China’ and a new deal was ‘possible,’ Trump told reporters aboard Air Force One.
Asked about the comments, Beijing’s foreign ministry said Thursday the two countries should handle trade tensions with ‘mutual respect.’
One month into his second term in office, Trump has threatened sweeping tariffs on allies and adversaries alike — targeting China as well as neighbours Canada and Mexico, and the European Union — and using levies as his main policy tool for lowering the massive US trade deficit.
At the beginning of February, he slapped additional customs duties of 10 per cent on all products imported from China.
Beijing’s foreign ministry said Thursday that China and the United States ‘should resolve their concerns through dialogue and consultation based on equality and mutual respect.’
‘Trade and tariff wars have no winners and only serve to damage the interests of people all over the world,’ ministry spokesman Guo Jiakun said at a regular press briefing.
At a separate news conference, China’s commerce ministry said Beijing ‘urges the US side not to wield the big stick of tariffs at every turn, using tariffs as a tool to engage in coercion all around.’
Trump is also threatening to impose 25 per cent tariffs on all imported cars, and similar or higher duties on pharmaceuticals and semiconductors as he turns up the heat on some of the biggest US trading partners.
He also told journalists aboard Air Force One on Wednesday that his administration was considering lumber tariffs of ‘maybe 25 per cent’ in the coming months.
The president initially announced tariffs of 25 per cent on all Canadian and Mexican imports, before U-turning hours before they were due to come into effect, granting a one-month reprieve in principle until March 1.
And he signed executive orders last week imposing new 25 per cent tariffs on steel and aluminum imports, due to come into effect on March 12.
Experts have warned it is often Americans who pay the costs of tariffs on US imports — not the foreign exporter.
Between Washington and Beijing, ‘there’s a little bit of competitiveness, but the relationship I have with president Xi (Jinping) is, I would say, a great one,’ Trump told reporters on Wednesday.
In addition to the leaders of France and Britain, Trump said Xi would also eventually be coming to Washington to meet with him.
Beijing has responded to the US tariffs with customs duties of 15 per cent on coal and liquefied natural gas and 10 per cent on oil and other goods, such as agricultural machinery and vehicles.
China is the country with the largest trade surplus with the United States in goods — $295.4 billion in 2024, according to the Bureau of Economic Analysis, which reports to the US Department of Commerce.
US ally Japan last week said it had asked the United States to be exempt from Trump’s tariffs on steel and aluminium exports, and has underlined the importance of its auto industry.
Tokyo’s trade minister is arranging a visit to the United States in the coming weeks to further push for exemptions, Japanese media reported Thursday.
Yoji Muto was expected to meet US officials including new commerce secretary Howard Lutnick before March 12, when the 25 per cent tariffs on steel and aluminium imports were set to come into effect, Kyodo News said.
Trump’s latest remarks on tariffs came as the European Union’s trade chief vowed Wednesday that the bloc would respond ‘firmly and swiftly’ to protect its interests if Washington imposes tariffs on EU goods.
Maros Sefcovic rejected Trump’s claim that US-EU trade ties were unfair, calling them the ‘very definition of a win-win partnership.’
But he signalled the EU’s willingness for dealmaking, such as the possibility of reducing or eliminating tariffs on autos and other products.
‘If we are going to talk about lowering the tariffs, even eliminating the tariffs, let’s say for industrial products, this would be something which we are ready to discuss,’ he said.
Within the 27-nation EU, Germany has by far the largest trade surplus with the United States, largely thanks to its automobile industry and chemical giants such as Bayer and BASF, according to the European statistics agency, Eurostat.
Agence France-Presse . Washington 20 February, 2025, 23:48
Donald Trump. | AFP file photo
US president Donald Trump suggested on Wednesday that a trade deal was ‘possible’ with China — a key target in the US leader’s tariffs policy.
In 2020, the United States had already agreed to ‘a great trade deal with China’ and a new deal was ‘possible,’ Trump told reporters aboard Air Force One.
Asked about the comments, Beijing’s foreign ministry said Thursday the two countries should handle trade tensions with ‘mutual respect.’
One month into his second term in office, Trump has threatened sweeping tariffs on allies and adversaries alike — targeting China as well as neighbours Canada and Mexico, and the European Union — and using levies as his main policy tool for lowering the massive US trade deficit.
At the beginning of February, he slapped additional customs duties of 10 per cent on all products imported from China.
Beijing’s foreign ministry said Thursday that China and the United States ‘should resolve their concerns through dialogue and consultation based on equality and mutual respect.’
‘Trade and tariff wars have no winners and only serve to damage the interests of people all over the world,’ ministry spokesman Guo Jiakun said at a regular press briefing.
At a separate news conference, China’s commerce ministry said Beijing ‘urges the US side not to wield the big stick of tariffs at every turn, using tariffs as a tool to engage in coercion all around.’
Trump is also threatening to impose 25 per cent tariffs on all imported cars, and similar or higher duties on pharmaceuticals and semiconductors as he turns up the heat on some of the biggest US trading partners.
He also told journalists aboard Air Force One on Wednesday that his administration was considering lumber tariffs of ‘maybe 25 per cent’ in the coming months.
The president initially announced tariffs of 25 per cent on all Canadian and Mexican imports, before U-turning hours before they were due to come into effect, granting a one-month reprieve in principle until March 1.
And he signed executive orders last week imposing new 25 per cent tariffs on steel and aluminum imports, due to come into effect on March 12.
Experts have warned it is often Americans who pay the costs of tariffs on US imports — not the foreign exporter.
Between Washington and Beijing, ‘there’s a little bit of competitiveness, but the relationship I have with president Xi (Jinping) is, I would say, a great one,’ Trump told reporters on Wednesday.
In addition to the leaders of France and Britain, Trump said Xi would also eventually be coming to Washington to meet with him.
Beijing has responded to the US tariffs with customs duties of 15 per cent on coal and liquefied natural gas and 10 per cent on oil and other goods, such as agricultural machinery and vehicles.
China is the country with the largest trade surplus with the United States in goods — $295.4 billion in 2024, according to the Bureau of Economic Analysis, which reports to the US Department of Commerce.
US ally Japan last week said it had asked the United States to be exempt from Trump’s tariffs on steel and aluminium exports, and has underlined the importance of its auto industry.
Tokyo’s trade minister is arranging a visit to the United States in the coming weeks to further push for exemptions, Japanese media reported Thursday.
Yoji Muto was expected to meet US officials including new commerce secretary Howard Lutnick before March 12, when the 25 per cent tariffs on steel and aluminium imports were set to come into effect, Kyodo News said.
Trump’s latest remarks on tariffs came as the European Union’s trade chief vowed Wednesday that the bloc would respond ‘firmly and swiftly’ to protect its interests if Washington imposes tariffs on EU goods.
Maros Sefcovic rejected Trump’s claim that US-EU trade ties were unfair, calling them the ‘very definition of a win-win partnership.’
But he signalled the EU’s willingness for dealmaking, such as the possibility of reducing or eliminating tariffs on autos and other products.
‘If we are going to talk about lowering the tariffs, even eliminating the tariffs, let’s say for industrial products, this would be something which we are ready to discuss,’ he said.
Within the 27-nation EU, Germany has by far the largest trade surplus with the United States, largely thanks to its automobile industry and chemical giants such as Bayer and BASF, according to the European statistics agency, Eurostat.
Saif
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China vows response to latest US tariffs
China on Friday vowed to take ‘all necessary countermeasures’ after US president Donald Trump said he would impose an additional 10 per cent tariff on Chinese imports — a decision Beijing warned would ‘seriously impact dialogue’.
www.newagebd.net
China vows response to latest US tariffs
Agence France-Presse . Beijing 28 February, 2025, 23:30
China on Friday vowed to take ‘all necessary countermeasures’ after US president Donald Trump said he would impose an additional 10 per cent tariff on Chinese imports — a decision Beijing warned would ‘seriously impact dialogue’.
Trump’s latest move will come into effect on Tuesday alongside sweeping 25 per cent levies on Canadian and Mexican imports, intensifying a brewing trade war between the world’s two largest economies.
The 10 per cent tariff on Chinese imports will come on top of an existing levy of the same rate imposed by Trump on China earlier this month.
Trump had announced — then halted — sweeping 25 per cent levies on Canadian and Mexican imports this month over illegal immigration and deadly fentanyl, with Canadian energy to face a lower rate.
But the month-long pause ends Tuesday.
Following reporters’ questions on whether he planned to proceed on the tariffs next week, Trump wrote on social media Thursday that until the problem of fentanyl stops ‘or is seriously limited’, the proposed levies will happen as scheduled.
‘China will likewise be charged an additional 10 per cent Tariff on that date,’ he added, referring to March 4.
In response to Trump’s allegations that Beijing is contributing to the fentanyl crisis in the United States, a spokesperson for China’s commerce ministry said Friday that Washington was ‘shifting the blame’.
‘China is one of the countries with the strictest and most thorough anti-narcotics policy in the world,’ the statement read.
‘But the US side has always ignored these facts,’ it said.
‘If the US side insists on going its own way, the Chinese side will take all necessary countermeasures to defend its legitimate rights and interests,’ it said.
The statement also said that the tariff hike ‘is not conducive to solving (the United States’) own problems’, adding that it would ‘increase the burden on American companies and consumers, and undermine the stability of the global industrial chain’.
Shortly after the statement was published, China’s foreign ministry warned that the new tariffs would ‘seriously impact dialogue’ between the two countries on narcotics control, accusing Washington of ‘blackmail’.
‘Pressure, coercion and threats are not the correct way to deal with China. Mutual respect is the basic premise,’ foreign ministry spokesman Lin Jian said at a daily press conference.
China’s leadership will convene next week to hammer out plans to shield its economy from Trump’s threats.
Mexican president Claudia Sheinbaum on Thursday said she hoped to speak with Trump to avoid being hit by his threatened tariffs.
A high-level Mexican delegation is in Washington in search of an agreement.
And Canadian prime minister Justin Trudeau said officials are working around the clock to avert US levies but would have an ‘immediate’ response if measures were imposed next week.
Trudeau has repeatedly stressed that less than one per cent of the fentanyl and undocumented migrants that enter the United States come through the Canadian border.
Trump’s threats have sent shivers through major exporter countries.
Asian markets were all well in the red early Friday, with Tokyo briefly shedding three per cent.
Besides levies over fentanyl, Trump added on his Truth Social platform that an April 2 date for so-called reciprocal tariffs ‘will remain in full force and effect’.
These will be tailored to each US trading partner, with details to come after government agencies complete studies on trade issues which Trump has called for.
In a letter this week by Chinese commerce minister Wang Wentao to newly confirmed US trade representative Jamieson Greer, Wang noted that Trump has called for many trade investigations ‘aimed at China’ and urged both sides to resolve their differences via dialogue.
Beijing has pushed back against US fentanyl concerns, saying Washington has to solve the issue itself rather than taking aim at other countries with levies.
Rather than the drugs being supplied directly to the United States, a Congressional Research Service report noted last year that US-bound fentanyl appears to be made in Mexico using chemical precursors from China.
While some precursors face international controls, others may be made and exported legally from countries like China.
In early February, China’s foreign ministry warned that fresh tariffs could hurt counter-narcotics cooperation.
Agence France-Presse . Beijing 28 February, 2025, 23:30
China on Friday vowed to take ‘all necessary countermeasures’ after US president Donald Trump said he would impose an additional 10 per cent tariff on Chinese imports — a decision Beijing warned would ‘seriously impact dialogue’.
Trump’s latest move will come into effect on Tuesday alongside sweeping 25 per cent levies on Canadian and Mexican imports, intensifying a brewing trade war between the world’s two largest economies.
The 10 per cent tariff on Chinese imports will come on top of an existing levy of the same rate imposed by Trump on China earlier this month.
Trump had announced — then halted — sweeping 25 per cent levies on Canadian and Mexican imports this month over illegal immigration and deadly fentanyl, with Canadian energy to face a lower rate.
But the month-long pause ends Tuesday.
Following reporters’ questions on whether he planned to proceed on the tariffs next week, Trump wrote on social media Thursday that until the problem of fentanyl stops ‘or is seriously limited’, the proposed levies will happen as scheduled.
‘China will likewise be charged an additional 10 per cent Tariff on that date,’ he added, referring to March 4.
In response to Trump’s allegations that Beijing is contributing to the fentanyl crisis in the United States, a spokesperson for China’s commerce ministry said Friday that Washington was ‘shifting the blame’.
‘China is one of the countries with the strictest and most thorough anti-narcotics policy in the world,’ the statement read.
‘But the US side has always ignored these facts,’ it said.
‘If the US side insists on going its own way, the Chinese side will take all necessary countermeasures to defend its legitimate rights and interests,’ it said.
The statement also said that the tariff hike ‘is not conducive to solving (the United States’) own problems’, adding that it would ‘increase the burden on American companies and consumers, and undermine the stability of the global industrial chain’.
Shortly after the statement was published, China’s foreign ministry warned that the new tariffs would ‘seriously impact dialogue’ between the two countries on narcotics control, accusing Washington of ‘blackmail’.
‘Pressure, coercion and threats are not the correct way to deal with China. Mutual respect is the basic premise,’ foreign ministry spokesman Lin Jian said at a daily press conference.
China’s leadership will convene next week to hammer out plans to shield its economy from Trump’s threats.
Mexican president Claudia Sheinbaum on Thursday said she hoped to speak with Trump to avoid being hit by his threatened tariffs.
A high-level Mexican delegation is in Washington in search of an agreement.
And Canadian prime minister Justin Trudeau said officials are working around the clock to avert US levies but would have an ‘immediate’ response if measures were imposed next week.
Trudeau has repeatedly stressed that less than one per cent of the fentanyl and undocumented migrants that enter the United States come through the Canadian border.
Trump’s threats have sent shivers through major exporter countries.
Asian markets were all well in the red early Friday, with Tokyo briefly shedding three per cent.
Besides levies over fentanyl, Trump added on his Truth Social platform that an April 2 date for so-called reciprocal tariffs ‘will remain in full force and effect’.
These will be tailored to each US trading partner, with details to come after government agencies complete studies on trade issues which Trump has called for.
In a letter this week by Chinese commerce minister Wang Wentao to newly confirmed US trade representative Jamieson Greer, Wang noted that Trump has called for many trade investigations ‘aimed at China’ and urged both sides to resolve their differences via dialogue.
Beijing has pushed back against US fentanyl concerns, saying Washington has to solve the issue itself rather than taking aim at other countries with levies.
Rather than the drugs being supplied directly to the United States, a Congressional Research Service report noted last year that US-bound fentanyl appears to be made in Mexico using chemical precursors from China.
While some precursors face international controls, others may be made and exported legally from countries like China.
In early February, China’s foreign ministry warned that fresh tariffs could hurt counter-narcotics cooperation.
Saif
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China’s foreign minister criticizes US tariffs and accuses the country of ‘meeting good with evil’
Chinese Foreign Minister Wang Yi said China will continue to retaliate to the United States' "arbitrary tariffs" and accused Washington of "meeting good with evil" in a press conference Friday on the sidelines of the country's annual parliamentary session. Wang said China's efforts to help th
China’s foreign minister criticizes US tariffs and accuses the country of ‘meeting good with evil’
REUTERS
Published :
Mar 07, 2025 19:54
Updated :
Mar 07, 2025 19:54
Chinese Foreign Minister Wang Yi said China will continue to retaliate to the United States' "arbitrary tariffs" and accused Washington of "meeting good with evil" in a press conference Friday on the sidelines of the country's annual parliamentary session.
Wang said China's efforts to help the U.S. contain its fentanyl crisis have been met with punitive tariffs, which are straining the ties between the countries.
"No country should fantasize that it can suppress China and maintain a good relationship with China at the same time," Wang said. "Such two-faced acts are not good for the stability of bilateral relations or for building mutual trust."
The two countries have been reengaging in tit-for-tat retaliatory tariffs since U.S. President Donald Trump's return to office in January. The U.S. has imposed flat tariffs of 20% of all Chinese imports, while Beijing has countered with additional 15% duties on U.S. imports including chicken, pork, soy and beef, and expanded controls on doing business with key U.S. companies.
Regarding the Trump administration's policy of safeguarding U.S. interests above international cooperation, Wang said such an approach, if adopted by every country in the world, would result in the "law of the jungle."
"Small and weak countries will get burnt first, and the international order and rules will be under severe shock," Wang said. "Major countries should undertake their international obligations ... and not seek to profit from and bully the weak."
REUTERS
Published :
Mar 07, 2025 19:54
Updated :
Mar 07, 2025 19:54
Chinese Foreign Minister Wang Yi said China will continue to retaliate to the United States' "arbitrary tariffs" and accused Washington of "meeting good with evil" in a press conference Friday on the sidelines of the country's annual parliamentary session.
Wang said China's efforts to help the U.S. contain its fentanyl crisis have been met with punitive tariffs, which are straining the ties between the countries.
"No country should fantasize that it can suppress China and maintain a good relationship with China at the same time," Wang said. "Such two-faced acts are not good for the stability of bilateral relations or for building mutual trust."
The two countries have been reengaging in tit-for-tat retaliatory tariffs since U.S. President Donald Trump's return to office in January. The U.S. has imposed flat tariffs of 20% of all Chinese imports, while Beijing has countered with additional 15% duties on U.S. imports including chicken, pork, soy and beef, and expanded controls on doing business with key U.S. companies.
Regarding the Trump administration's policy of safeguarding U.S. interests above international cooperation, Wang said such an approach, if adopted by every country in the world, would result in the "law of the jungle."
"Small and weak countries will get burnt first, and the international order and rules will be under severe shock," Wang said. "Major countries should undertake their international obligations ... and not seek to profit from and bully the weak."
Saif
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China poses biggest military, cyber threat to US, intel chiefs say
China remains the top military and cyber threat to the US, according to a report by US intelligence agencies published on Tuesday that said Beijing was making "steady but uneven" progress on capabilities it could use to capture Taiwan. China has the ability to hit the United States with convention
China poses biggest military, cyber threat to US, intel chiefs say
REUTERS
Published :
Mar 26, 2025 18:45
Updated :
Mar 26, 2025 18:45
US and Chinese flags are seen in this illustration taken March 20, 2025. Photo : REUTERS/Dado Ruvic/Illustration/Files
China remains the top military and cyber threat to the US, according to a report by US intelligence agencies published on Tuesday that said Beijing was making "steady but uneven" progress on capabilities it could use to capture Taiwan.
China has the ability to hit the United States with conventional weapons; compromise US infrastructure through cyber attacks; and target its assets in space, the Annual Threat Assessment by the intelligence community said, adding that Beijing also seeks to displace the United States as the top AI power by 2030.
Russia, along with Iran, North Korea and China, seeks to challenge the US through deliberate campaigns to gain an advantage, with Moscow's war in Ukraineaffording a "wealth of lessons regarding combat against Western weapons and intelligence in a large-scale war," the report said.
Released ahead of testimony before the Senate Intelligence Committee by President Donald Trump's intelligence chiefs, the report said China's People's Liberation Army (PLA) most likely planned to use large language models to create fake news, imitate personas, and enable attack networks.
"China's military is fielding advanced capabilities, including hypersonic weapons, stealth aircraft, advanced submarines, stronger space and cyber warfare assets and a larger arsenal of nuclear weapons," Director of National Intelligence Tulsi Gabbard told the committee. She labeled Beijing as Washington's "most capable strategic competitor."
"China almost certainly has a multifaceted, national-level strategy designed to displace the United States as the world's most influential AI power by 2030," the report said.
CIA Director John Ratcliffe told the committee that China had made only "intermittent" efforts to curtail the flow of precursor chemicals fueling the US fentanyl crisis because it was reluctant to crack down on lucrative Chinese businesses.
Trump has increased tariffs on all Chinese imports by 20 per cent to punish Beijing for what Trump called its failure to halt shipments of fentanyl chemicals. China has denied playing a role in the crisis, the leading cause of US drug overdose deaths. The issue has become a major point of friction between the Trump administration and Chinese officials.
"There is nothing to prevent China ... from cracking down on fentanyl precursors," Ratcliffe said.
The Chinese foreign ministry said it "advised the US not to use its own hegemonic logic to mirror China, and not to use outdated Cold War thinking to view China-US relations," when asked about the report on Wednesday.
The ministry urged Washington to stop "condoning and supporting Taiwan independence separatist activities," ministry spokesperson Guo Jiakun said.
The spokesperson for China's embassy in Washington, Liu Pengyu, said the United States has long "hyped up" the China threat as an excuse to maintain US military hegemony.
"China is determined to be a force for peace, stability and progress in the world, and also determined to defend our national sovereignty, security and territorial integrity," Liu said, adding that "fentanyl abuse is a problem that the United States itself must confront and resolve."
INTELLIGENCE LEAK FUROR OVERSHADOWS HEARING
The committee hearing was overshadowed by Democratic senators grilling Ratcliffe and Gabbard over revelations that they and other top Trump officials discussed highly sensitive military plans in a Signal messaging app group that accidentally included a US journalist.
Numerous Republican senators focused their questioning on undocumented immigrants in the US
The intelligence report said large-scale illegal immigration had strained US infrastructure and "enabled known or suspected terrorists to cross into the United States."
The intelligence agencies said Iran was committed to developing surrogate networks inside the US and to targeting former and current US officials.
While Iran continued to improve its domestically produced missile and UAV systems and arm a consortium of "like-minded terrorist and militant actors", they said, the US continues to assess that Tehran "is not building a nuclear weapon."
US concerns about China dominated about a third of the 33-page report, which said Beijing was set to increase military and economic coercion toward Taiwan, the democratically governed island China claims as its territory.
"The PLA probably is making steady but uneven progress on capabilities it would use in an attempt to seize Taiwan and deter - and if necessary, defeat - US military intervention," it said.
The intelligence agencies said another one of China's long-term goals was to expand access to Greenland's natural resources and use it as a "key strategic foothold" in the Arctic.
US Vice President JD Vance said he would visit Greenland this week with a high-profile US delegation. Trump has angered NATO ally Denmark and Greenland with renewed calls for the US to take over the semi-autonomous Danish territory, calling the proposal a US national security imperative.
Still, the report said, China faces "daunting" domestic challenges, including corruption, demographic imbalances, and fiscal and economic headwinds that could impair the ruling Communist Party's legitimacy at home.
China's economic growth probably will continue to slow because of low consumer and investor confidence, and Chinese officials appear to be bracing for more economic friction with the US, the report said.
REUTERS
Published :
Mar 26, 2025 18:45
Updated :
Mar 26, 2025 18:45
US and Chinese flags are seen in this illustration taken March 20, 2025. Photo : REUTERS/Dado Ruvic/Illustration/Files
China remains the top military and cyber threat to the US, according to a report by US intelligence agencies published on Tuesday that said Beijing was making "steady but uneven" progress on capabilities it could use to capture Taiwan.
China has the ability to hit the United States with conventional weapons; compromise US infrastructure through cyber attacks; and target its assets in space, the Annual Threat Assessment by the intelligence community said, adding that Beijing also seeks to displace the United States as the top AI power by 2030.
Russia, along with Iran, North Korea and China, seeks to challenge the US through deliberate campaigns to gain an advantage, with Moscow's war in Ukraineaffording a "wealth of lessons regarding combat against Western weapons and intelligence in a large-scale war," the report said.
Released ahead of testimony before the Senate Intelligence Committee by President Donald Trump's intelligence chiefs, the report said China's People's Liberation Army (PLA) most likely planned to use large language models to create fake news, imitate personas, and enable attack networks.
"China's military is fielding advanced capabilities, including hypersonic weapons, stealth aircraft, advanced submarines, stronger space and cyber warfare assets and a larger arsenal of nuclear weapons," Director of National Intelligence Tulsi Gabbard told the committee. She labeled Beijing as Washington's "most capable strategic competitor."
"China almost certainly has a multifaceted, national-level strategy designed to displace the United States as the world's most influential AI power by 2030," the report said.
CIA Director John Ratcliffe told the committee that China had made only "intermittent" efforts to curtail the flow of precursor chemicals fueling the US fentanyl crisis because it was reluctant to crack down on lucrative Chinese businesses.
Trump has increased tariffs on all Chinese imports by 20 per cent to punish Beijing for what Trump called its failure to halt shipments of fentanyl chemicals. China has denied playing a role in the crisis, the leading cause of US drug overdose deaths. The issue has become a major point of friction between the Trump administration and Chinese officials.
"There is nothing to prevent China ... from cracking down on fentanyl precursors," Ratcliffe said.
The Chinese foreign ministry said it "advised the US not to use its own hegemonic logic to mirror China, and not to use outdated Cold War thinking to view China-US relations," when asked about the report on Wednesday.
The ministry urged Washington to stop "condoning and supporting Taiwan independence separatist activities," ministry spokesperson Guo Jiakun said.
The spokesperson for China's embassy in Washington, Liu Pengyu, said the United States has long "hyped up" the China threat as an excuse to maintain US military hegemony.
"China is determined to be a force for peace, stability and progress in the world, and also determined to defend our national sovereignty, security and territorial integrity," Liu said, adding that "fentanyl abuse is a problem that the United States itself must confront and resolve."
INTELLIGENCE LEAK FUROR OVERSHADOWS HEARING
The committee hearing was overshadowed by Democratic senators grilling Ratcliffe and Gabbard over revelations that they and other top Trump officials discussed highly sensitive military plans in a Signal messaging app group that accidentally included a US journalist.
Numerous Republican senators focused their questioning on undocumented immigrants in the US
The intelligence report said large-scale illegal immigration had strained US infrastructure and "enabled known or suspected terrorists to cross into the United States."
The intelligence agencies said Iran was committed to developing surrogate networks inside the US and to targeting former and current US officials.
While Iran continued to improve its domestically produced missile and UAV systems and arm a consortium of "like-minded terrorist and militant actors", they said, the US continues to assess that Tehran "is not building a nuclear weapon."
US concerns about China dominated about a third of the 33-page report, which said Beijing was set to increase military and economic coercion toward Taiwan, the democratically governed island China claims as its territory.
"The PLA probably is making steady but uneven progress on capabilities it would use in an attempt to seize Taiwan and deter - and if necessary, defeat - US military intervention," it said.
The intelligence agencies said another one of China's long-term goals was to expand access to Greenland's natural resources and use it as a "key strategic foothold" in the Arctic.
US Vice President JD Vance said he would visit Greenland this week with a high-profile US delegation. Trump has angered NATO ally Denmark and Greenland with renewed calls for the US to take over the semi-autonomous Danish territory, calling the proposal a US national security imperative.
Still, the report said, China faces "daunting" domestic challenges, including corruption, demographic imbalances, and fiscal and economic headwinds that could impair the ruling Communist Party's legitimacy at home.
China's economic growth probably will continue to slow because of low consumer and investor confidence, and Chinese officials appear to be bracing for more economic friction with the US, the report said.
Saif
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China rebuffs Trump offer of tariff concessions if Beijing agrees TikTok deal
Trump said this month the United States was in talks with four groups interested in acquiring TikTok, with the app facing an uncertain future in the country.
China rebuffs Trump offer of tariff concessions if Beijing agrees TikTok deal
China rebuffed on Thursday a suggestion from US President Donald Trump that he might offer to reduce tariffs on the country to get Beijing's approval for the sale of popular social media platform TikTok.
Trump said this month the United States was in talks with four groups interested in acquiring TikTok, with the app facing an uncertain future in the country.
A US law has ordered TikTok to divest from its Chinese owner ByteDance or be banned in the United States, enacted over concerns that Beijing could exploit the video-sharing platform to spy on Americans or covertly influence US public opinion.
The law took effect on January 19, a day before Trump's inauguration, but he quickly announced a delay that has allowed it to continue to operate.
That delay is set to expire on April 5.
Trump told reporters at the White House on Wednesday that he could give China "a little reduction in tariffs or something to get it done".
"We're going to have a form of a deal," Trump said, adding that if it wasn't done in time, he would extend the deadline.
"China is going to have to play a role in that, possibly in the form of an approval and I think they'll do that."
Beijing swiftly rebuffed Trump's suggestion, with its foreign ministry saying that it has "repeatedly stated our position" on TikTok.
"The Chinese side's stance against imposing additional tariffs is also consistent and clear," foreign ministry spokesman Guo Jiakun said.
Trump similarly attempted to ban TikTok in the United States on national security concerns during his first stint in the White House.
TikTok temporarily shut down in the United States in January and disappeared from app stores as the deadline for the law approached, to the dismay of millions of users.
Trump suspended its implementation for two-and-a-half months after beginning his second term on January 20, seeking a solution with Beijing.
TikTok subsequently restored service in the United States and returned to the Apple and Google app stores in February.
Artificial intelligence (AI) startup Perplexity recently expressed its interest in buying TikTok.
Perplexity laid out in a blog post a vision for integrating its AI-powered internet search capabilities with the popular video-snippet sharing app.
"Combining Perplexity's answer engine with TikTok's extensive video library would allow us to build the best search experience in the world," the San Francisco-based firm said.
Although TikTok does not appear overly motivated regarding the sale of the app, potential buyers include an initiative called "The People's Bid for TikTok", launched by real estate and sports tycoon Frank McCourt's Project Liberty initiative.
Others in the running are Microsoft, Oracle and a group that includes Internet personality MrBeast, whose real name is Jimmy Donaldson.
"Any acquisition by a consortium of investors could in effect keep ByteDance in control of the algorithm, while any acquisition by a competitor would likely create a monopoly in the short form video and information space," Perplexity said in its post.
"All of society benefits when content feeds are liberated from the manipulations of foreign governments and globalist monopolists."
China rebuffed on Thursday a suggestion from US President Donald Trump that he might offer to reduce tariffs on the country to get Beijing's approval for the sale of popular social media platform TikTok.
Trump said this month the United States was in talks with four groups interested in acquiring TikTok, with the app facing an uncertain future in the country.
A US law has ordered TikTok to divest from its Chinese owner ByteDance or be banned in the United States, enacted over concerns that Beijing could exploit the video-sharing platform to spy on Americans or covertly influence US public opinion.
The law took effect on January 19, a day before Trump's inauguration, but he quickly announced a delay that has allowed it to continue to operate.
That delay is set to expire on April 5.
Trump told reporters at the White House on Wednesday that he could give China "a little reduction in tariffs or something to get it done".
"We're going to have a form of a deal," Trump said, adding that if it wasn't done in time, he would extend the deadline.
"China is going to have to play a role in that, possibly in the form of an approval and I think they'll do that."
Beijing swiftly rebuffed Trump's suggestion, with its foreign ministry saying that it has "repeatedly stated our position" on TikTok.
"The Chinese side's stance against imposing additional tariffs is also consistent and clear," foreign ministry spokesman Guo Jiakun said.
Trump similarly attempted to ban TikTok in the United States on national security concerns during his first stint in the White House.
TikTok temporarily shut down in the United States in January and disappeared from app stores as the deadline for the law approached, to the dismay of millions of users.
Trump suspended its implementation for two-and-a-half months after beginning his second term on January 20, seeking a solution with Beijing.
TikTok subsequently restored service in the United States and returned to the Apple and Google app stores in February.
Artificial intelligence (AI) startup Perplexity recently expressed its interest in buying TikTok.
Perplexity laid out in a blog post a vision for integrating its AI-powered internet search capabilities with the popular video-snippet sharing app.
"Combining Perplexity's answer engine with TikTok's extensive video library would allow us to build the best search experience in the world," the San Francisco-based firm said.
Although TikTok does not appear overly motivated regarding the sale of the app, potential buyers include an initiative called "The People's Bid for TikTok", launched by real estate and sports tycoon Frank McCourt's Project Liberty initiative.
Others in the running are Microsoft, Oracle and a group that includes Internet personality MrBeast, whose real name is Jimmy Donaldson.
"Any acquisition by a consortium of investors could in effect keep ByteDance in control of the algorithm, while any acquisition by a competitor would likely create a monopoly in the short form video and information space," Perplexity said in its post.
"All of society benefits when content feeds are liberated from the manipulations of foreign governments and globalist monopolists."
Saif
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China slaps a 34pc tax on all US imports in retaliation for Trump's tariffs
China announced Friday that it will impose a 34% tax on all US imports next week, part of a flurry of retaliatory measures to US President Donald Trump’s new tariffs that delivered the strongest response yet from Beijing to the American leader's trade war. The tariffs taking effect Thursday
China slaps a 34pc tax on all US imports in retaliation for Trump's tariffs
AP
Published :
Apr 05, 2025 09:55
Updated :
Apr 05, 2025 09:55
China announced Friday that it will impose a 34% tax on all US imports next week, part of a flurry of retaliatory measures to US President Donald Trump’s new tariffs that delivered the strongest response yet from Beijing to the American leader's trade war.
The tariffs taking effect Thursday match the rate that Trump this week ordered imposed on Chinese products flowing into the United States. In February and March, Trump slapped two rounds of 10% tariffs on Chinese goods, citing allegations of Beijing's role in the fentanyl crisis.
The US stock market plunged Friday following China’s retaliatory moves. They include more export controls on rare earth minerals, which are critical for various technologies, and a lawsuit at the World Trade Organization over what Trump has dubbed reciprocal tariffs.
China also suspended imports of sorghum, poultry and bonemeal from six US companies, added 27 firms to lists of companies facing trade restrictions, and launched an anti-monopoly investigation into DuPont China Group Co., a subsidiary of the multinational chemical giant.
Trump posted Friday on Truth Social: “CHINA PLAYED IT WRONG, THEY PANICKED - THE ONE THING THEY CANNOT AFFORD TO DO.”
Yet he also indicated he could still negotiate with China on the sale of TikTok even after Beijing pressed pause on a deal following the new tariffs. On Friday, he extended the deadline for the social media app to divest from its Chinese parent company, per a federal law, for another 75 days.
“We hope to continue working in Good Faith with China, who I understand are not very happy about our Reciprocal Tariffs,” Trump posted on his social media site. “We look forward to working with TikTok and China to close the Deal.”
China's response to tariffs grows tougher
Beijing’s response is “notably less restrained” than during the recent two rounds of 10% tariffs on Chinese goods, and that “likely reflects the Chinese leadership’s diminished hopes for a trade deal with the US, at least in the short term,” wrote Gabriel Wildau, managing director of the consultancy Teneo.
He said Beijing's tough response could trigger further escalation, with no sign that Chinese President Xi Jinping and Trump might meet soon or get on the phone to ease the tensions.
If China’s previous responses were scalpels, this time it drew a sword, said Craig Singleton, senior China fellow at the Foundation for Defense of Democracies, a Washington-based think tank.
“China’s new tariffs stop short of full-blown trade war, but they mark a clear escalation — matching Trump blow-for-blow and signaling that Xi Jinping won’t sit back under pressure,” Singleton said.
But the escalation also is squeezing out space for diplomacy, he warned.
“The longer this drags, the harder it becomes for either side to deescalate without losing face,” Singleton said.
What China's retaliatory measures look like
In Beijing, the Commerce Ministry said it would impose more export controls on rare earths — materials used in high-tech products such as computer chips and electric vehicle batteries. Included in the list was samarium and its compounds, which are used in aerospace manufacturing and the defense sector. Another element called gadolinium is used in MRI scans.
China's customs administration said it had suspended imports from two US poultry businesses after officials detected furazolidone, a drug banned in China, in shipments from those companies. It said it found high levels of mold in the sorghum and found salmonella in the bonemeal feeds from four other US companies.
The Chinese government said it also added 16 US companies to the export control list, subjecting them to an export ban of dual-use products. Among them are High Point Aerotechnologies, a defense tech company, and Universal Logistics Holding, a publicly traded transportation and logistics company.
An additional 11 US companies were added to the unreliable entity list, including the American drone makers Skydio and BRINC Drones, banning them from import and export activities as well as making new investments in China.
In announcing its WTO lawsuit, the Commerce Ministry said Trump's new tariffs move “seriously violates WTO rules, seriously damages the legitimate rights and interests of WTO members, and seriously undermines the rules-based multilateral trading system and international economic and trade order.”
The ministry called the tariffs “a typical unilateral bullying practice that endangers the stability of the global economic and trade order.”
Beijing's previous tariff moves
In February, in response to Trump's first 10% tariff, China announced a 15% tariff on imports of coal and liquefied natural gas products from the US It separately added a 10% tariff on crude oil, agricultural machinery and large-engine cars.
A month later, Beijing responded to Trump's second round with additional tariffs of up to 15% on imports of key US farm products, including chicken, pork, soy and beef. Experts then said Beijing exercised restraint, leaving room for negotiations with Washington.
By now, dozens of US companies are subject to controls on trade and investment, while many more Chinese companies face similar limits on dealings with US firms.
While friction on the trade front has been heating up, the two sides have maintained military dialogue.
US and Chinese military officials met this week for the first time Trump took office in January to share concerns about military safety on the seas. The talks held Wednesday and Thursday in Shanghai were aimed at minimizing the risk of trouble, both sides said.
AP
Published :
Apr 05, 2025 09:55
Updated :
Apr 05, 2025 09:55
China announced Friday that it will impose a 34% tax on all US imports next week, part of a flurry of retaliatory measures to US President Donald Trump’s new tariffs that delivered the strongest response yet from Beijing to the American leader's trade war.
The tariffs taking effect Thursday match the rate that Trump this week ordered imposed on Chinese products flowing into the United States. In February and March, Trump slapped two rounds of 10% tariffs on Chinese goods, citing allegations of Beijing's role in the fentanyl crisis.
The US stock market plunged Friday following China’s retaliatory moves. They include more export controls on rare earth minerals, which are critical for various technologies, and a lawsuit at the World Trade Organization over what Trump has dubbed reciprocal tariffs.
China also suspended imports of sorghum, poultry and bonemeal from six US companies, added 27 firms to lists of companies facing trade restrictions, and launched an anti-monopoly investigation into DuPont China Group Co., a subsidiary of the multinational chemical giant.
Trump posted Friday on Truth Social: “CHINA PLAYED IT WRONG, THEY PANICKED - THE ONE THING THEY CANNOT AFFORD TO DO.”
Yet he also indicated he could still negotiate with China on the sale of TikTok even after Beijing pressed pause on a deal following the new tariffs. On Friday, he extended the deadline for the social media app to divest from its Chinese parent company, per a federal law, for another 75 days.
“We hope to continue working in Good Faith with China, who I understand are not very happy about our Reciprocal Tariffs,” Trump posted on his social media site. “We look forward to working with TikTok and China to close the Deal.”
China's response to tariffs grows tougher
Beijing’s response is “notably less restrained” than during the recent two rounds of 10% tariffs on Chinese goods, and that “likely reflects the Chinese leadership’s diminished hopes for a trade deal with the US, at least in the short term,” wrote Gabriel Wildau, managing director of the consultancy Teneo.
He said Beijing's tough response could trigger further escalation, with no sign that Chinese President Xi Jinping and Trump might meet soon or get on the phone to ease the tensions.
If China’s previous responses were scalpels, this time it drew a sword, said Craig Singleton, senior China fellow at the Foundation for Defense of Democracies, a Washington-based think tank.
“China’s new tariffs stop short of full-blown trade war, but they mark a clear escalation — matching Trump blow-for-blow and signaling that Xi Jinping won’t sit back under pressure,” Singleton said.
But the escalation also is squeezing out space for diplomacy, he warned.
“The longer this drags, the harder it becomes for either side to deescalate without losing face,” Singleton said.
What China's retaliatory measures look like
In Beijing, the Commerce Ministry said it would impose more export controls on rare earths — materials used in high-tech products such as computer chips and electric vehicle batteries. Included in the list was samarium and its compounds, which are used in aerospace manufacturing and the defense sector. Another element called gadolinium is used in MRI scans.
China's customs administration said it had suspended imports from two US poultry businesses after officials detected furazolidone, a drug banned in China, in shipments from those companies. It said it found high levels of mold in the sorghum and found salmonella in the bonemeal feeds from four other US companies.
The Chinese government said it also added 16 US companies to the export control list, subjecting them to an export ban of dual-use products. Among them are High Point Aerotechnologies, a defense tech company, and Universal Logistics Holding, a publicly traded transportation and logistics company.
An additional 11 US companies were added to the unreliable entity list, including the American drone makers Skydio and BRINC Drones, banning them from import and export activities as well as making new investments in China.
In announcing its WTO lawsuit, the Commerce Ministry said Trump's new tariffs move “seriously violates WTO rules, seriously damages the legitimate rights and interests of WTO members, and seriously undermines the rules-based multilateral trading system and international economic and trade order.”
The ministry called the tariffs “a typical unilateral bullying practice that endangers the stability of the global economic and trade order.”
Beijing's previous tariff moves
In February, in response to Trump's first 10% tariff, China announced a 15% tariff on imports of coal and liquefied natural gas products from the US It separately added a 10% tariff on crude oil, agricultural machinery and large-engine cars.
A month later, Beijing responded to Trump's second round with additional tariffs of up to 15% on imports of key US farm products, including chicken, pork, soy and beef. Experts then said Beijing exercised restraint, leaving room for negotiations with Washington.
By now, dozens of US companies are subject to controls on trade and investment, while many more Chinese companies face similar limits on dealings with US firms.
While friction on the trade front has been heating up, the two sides have maintained military dialogue.
US and Chinese military officials met this week for the first time Trump took office in January to share concerns about military safety on the seas. The talks held Wednesday and Thursday in Shanghai were aimed at minimizing the risk of trouble, both sides said.
Saif
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Trump threatens further 50% tariffs on China
US President Donald Trump on Monday threatened huge additional tariffs on imports from China if Beijing did not withdraw its retaliation plans
en.prothomalo.com
Trump threatens further 50% tariffs on China
AFP Washington, USA
Published: 07 Apr 2025, 22: 24
US president Donald Trump Reuters file photo
US President Donald Trump on Monday threatened huge additional tariffs on imports from China if Beijing did not withdraw its retaliation plans, adding that Washington would begin negotiations with other countries that want them.
"If China does not withdraw its 34 per cent increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50 percent, effective April 9th," Trump said in a Truth Social post.
Beijing has issued countermeasures after Trump announced another sharp tariff hike on goods from the world's second biggest economy last week.
Since returning to the presidency, Trump has imposed 20 per cent added duties on Chinese imports over its alleged role in the fentanyl supply chain.
A fresh 34 percent levy on the country's products is due to kick in Wednesday, bringing the added rate this year to 54 per cent.
It is not immediately clear how Trump's new threat factors into this calculation.
China's response included export controls on rare earth elements, and Beijing plans for its own 34 percent tariff on US goods, stacking atop existing Chinese levies set to begin 10 April.
Trump took aim at Beijing's economic practices on social media Monday, criticising its "non-monetary tariffs" and "illegal subsidization of companies."
He added that "all talks with China concerning their requested meetings with us will be terminated."
But "negotiations with other countries, which have also requested meetings, will begin taking place immediately," Trump wrote on his Truth Social platform.
AFP Washington, USA
Published: 07 Apr 2025, 22: 24
US president Donald Trump Reuters file photo
US President Donald Trump on Monday threatened huge additional tariffs on imports from China if Beijing did not withdraw its retaliation plans, adding that Washington would begin negotiations with other countries that want them.
"If China does not withdraw its 34 per cent increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50 percent, effective April 9th," Trump said in a Truth Social post.
Beijing has issued countermeasures after Trump announced another sharp tariff hike on goods from the world's second biggest economy last week.
Since returning to the presidency, Trump has imposed 20 per cent added duties on Chinese imports over its alleged role in the fentanyl supply chain.
A fresh 34 percent levy on the country's products is due to kick in Wednesday, bringing the added rate this year to 54 per cent.
It is not immediately clear how Trump's new threat factors into this calculation.
China's response included export controls on rare earth elements, and Beijing plans for its own 34 percent tariff on US goods, stacking atop existing Chinese levies set to begin 10 April.
Trump took aim at Beijing's economic practices on social media Monday, criticising its "non-monetary tariffs" and "illegal subsidization of companies."
He added that "all talks with China concerning their requested meetings with us will be terminated."
But "negotiations with other countries, which have also requested meetings, will begin taking place immediately," Trump wrote on his Truth Social platform.
Saif
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Tariffs on China set to rise to at least 104pc on Wednesday, says White House
US President Donald Trump is set to impose an additional 84 per cent in levies across all Chinese imports on Wednesday, White House Press Secretary Karoline Leavitt announced on Tuesday. It will mean all goods from the country are subject to a tariff of at least 104 per cent, according to a CNN re
Tariffs on China set to rise to at least 104pc on Wednesday, says White House
FE ONLINE DESK
Published :
Apr 08, 2025 23:56
Updated :
Apr 08, 2025 23:58
US President Donald Trump is set to impose an additional 84 per cent in levies across all Chinese imports on Wednesday, White House Press Secretary Karoline Leavitt announced on Tuesday.
It will mean all goods from the country are subject to a tariff of at least 104 per cent, according to a CNN report.
China was already set to see tariffs increase by 34 per cent on Wednesday as part of Trump’s “reciprocal” tariffs package. But the president tacked on another 50 per cent after Beijing didn’t back off its promise to impose 34 per cent retaliatory tariffs on US goods by noon Tuesday.
“Countries like China, who have chosen to retaliate and try to double down on their mistreatment of American workers, are making a mistake,” Leavitt told reporters on Tuesday. “President Trump has a spine of steel, and he will not break.”
“The Chinese want to make a deal, they just don’t know how to do it,” she added. She declined to share what, if any, terms Trump would consider to lower tariffs on China.
China was America’s second largest source of imports last year, shipping a total of $439 billion worth of goods to the US while the US exported $144 billion worth of goods to China. The mutual tariffs threaten to hurt domestic industries and are poised to result in layoffs.
FE ONLINE DESK
Published :
Apr 08, 2025 23:56
Updated :
Apr 08, 2025 23:58
US President Donald Trump is set to impose an additional 84 per cent in levies across all Chinese imports on Wednesday, White House Press Secretary Karoline Leavitt announced on Tuesday.
It will mean all goods from the country are subject to a tariff of at least 104 per cent, according to a CNN report.
China was already set to see tariffs increase by 34 per cent on Wednesday as part of Trump’s “reciprocal” tariffs package. But the president tacked on another 50 per cent after Beijing didn’t back off its promise to impose 34 per cent retaliatory tariffs on US goods by noon Tuesday.
“Countries like China, who have chosen to retaliate and try to double down on their mistreatment of American workers, are making a mistake,” Leavitt told reporters on Tuesday. “President Trump has a spine of steel, and he will not break.”
“The Chinese want to make a deal, they just don’t know how to do it,” she added. She declined to share what, if any, terms Trump would consider to lower tariffs on China.
China was America’s second largest source of imports last year, shipping a total of $439 billion worth of goods to the US while the US exported $144 billion worth of goods to China. The mutual tariffs threaten to hurt domestic industries and are poised to result in layoffs.
Saif
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China to increase tariffs on US goods to 125pc
Beijing on Friday increased its tariffs on US imports to 125 per cent, hitting back against US President Donald Trump's decision to hike duties on Chinese goods to 145 per cent and raising the stakes in a trade war that threatens to up-end global supply chains. China's retaliation intensified the
China to increase tariffs on US goods to 125pc
REUTERS
Published :
Apr 11, 2025 16:38
Updated :
Apr 11, 2025 16:47
Beijing on Friday increased its tariffs on US imports to 125 per cent, hitting back against US President Donald Trump's decision to hike duties on Chinese goods to 145 per cent and raising the stakes in a trade war that threatens to up-end global supply chains.
China's retaliation intensified the economic turmoil unleashed by Trump's tariffs, with markets tumbling further and foreign leaders puzzling how to respond to the biggest disruption to the world trade order in decades.
The brief reprieve for battered stocks seen after Trump decided to pause duties for dozens of countries for 90 days quickly dissipated, as attention returned to the escalating trade conflict between the US and China that has fuelled global recession fears.
Global stocks fell, the dollar slid and a sell-off in US government bonds picked up pace on Friday, reigniting fears of fragility in the world's biggest bond market. Gold, a safe haven for investors in times of crisis, scaled a record high.
"Recession risk is much, much higher now than it was a couple weeks ago," said Adam Hetts, global head of multi-asset at Janus Henderson.
Asian indices mostly followed Wall Street lower on Friday.
In Europe, China's latest tariff hike sent stocks lower, leaving the STOXX 600 (.STOXX), opens new tab down more than 1 per cent on the day and set for another drop this week. Financial markets are experiencing some of the most volatile trading since the early days of the COVID-19 pandemic.
"There's clearly an exodus from US assets. A falling currency and bond market is never a good sign," said Kyle Rodda, senior financial markets analyst at Capital.com. "This goes beyond pricing in a growth slowdown and trade uncertainty."
US Treasury Secretary Scott Bessent shrugged off the renewed market turmoil on Thursday and said striking deals with other countries would bring certainty.
The US and Vietnam have agreed to begin formal trade talks, the White House said. The Southeast Asian manufacturing hub is prepared to crack down on Chinese goods being shipped to the United States via its territory in the hope of avoiding tariffs, Reuters exclusively reported.
Japanese Prime Minister Shigeru Ishiba, meanwhile, has set up a trade task force that hopes to visit Washington next week.
TRADE WAR WITH CHINA
As Trump suddenly paused his 'reciprocal' tariffs on other countries hours after they came into effect earlier this week, he ratcheted up duties on Chinese imports as punishment for Beijing's initial move to retaliate.
He has now imposed new tariffs on Chinese goods of 145 per cent since taking office.
China hit back with new tariffs on Friday, although Beijing indicated that this would be the last time it matched the US, should Trump take his duties any higher.
"Even if the US continues to impose even higher tariffs, it would no longer have any economic significance and would go down as a joke in the history of world economics," the finance ministry statement added.
"If the US continues to play a numbers game with tariffs, China will not respond," it added, however, leaving the door open for Beijing to turn to other types of retaliation, and reiterating that China would fight the US to the end.
Trump had told reporters at the White House on Thursday that he thought the United States could make a deal with China and said he respected Chinese President Xi Jinping.
"In a true sense he's been a friend of mine for a long period of time, and I think that we'll end up working out something that's very good for both countries," he said.
Xi, in his first public remarks on Trump's tariffs, told Spanish Prime Minister Pedro Sanchez during a meeting in Beijing on Friday that China and the European Union should "jointly oppose unilateral acts of bullying," in a clear swipe at Trump's tariff policies.
"There are no winners in a trade war," the Chinese leader told his guest, adding that by acting together, the world's second-largest economy and the 27-strong European trade bloc could defend their interests and help uphold "the global rules-based order," China's state news agency Xinhua reported.
REUTERS
Published :
Apr 11, 2025 16:38
Updated :
Apr 11, 2025 16:47
Beijing on Friday increased its tariffs on US imports to 125 per cent, hitting back against US President Donald Trump's decision to hike duties on Chinese goods to 145 per cent and raising the stakes in a trade war that threatens to up-end global supply chains.
China's retaliation intensified the economic turmoil unleashed by Trump's tariffs, with markets tumbling further and foreign leaders puzzling how to respond to the biggest disruption to the world trade order in decades.
The brief reprieve for battered stocks seen after Trump decided to pause duties for dozens of countries for 90 days quickly dissipated, as attention returned to the escalating trade conflict between the US and China that has fuelled global recession fears.
Global stocks fell, the dollar slid and a sell-off in US government bonds picked up pace on Friday, reigniting fears of fragility in the world's biggest bond market. Gold, a safe haven for investors in times of crisis, scaled a record high.
"Recession risk is much, much higher now than it was a couple weeks ago," said Adam Hetts, global head of multi-asset at Janus Henderson.
Asian indices mostly followed Wall Street lower on Friday.
In Europe, China's latest tariff hike sent stocks lower, leaving the STOXX 600 (.STOXX), opens new tab down more than 1 per cent on the day and set for another drop this week. Financial markets are experiencing some of the most volatile trading since the early days of the COVID-19 pandemic.
"There's clearly an exodus from US assets. A falling currency and bond market is never a good sign," said Kyle Rodda, senior financial markets analyst at Capital.com. "This goes beyond pricing in a growth slowdown and trade uncertainty."
US Treasury Secretary Scott Bessent shrugged off the renewed market turmoil on Thursday and said striking deals with other countries would bring certainty.
The US and Vietnam have agreed to begin formal trade talks, the White House said. The Southeast Asian manufacturing hub is prepared to crack down on Chinese goods being shipped to the United States via its territory in the hope of avoiding tariffs, Reuters exclusively reported.
Japanese Prime Minister Shigeru Ishiba, meanwhile, has set up a trade task force that hopes to visit Washington next week.
TRADE WAR WITH CHINA
As Trump suddenly paused his 'reciprocal' tariffs on other countries hours after they came into effect earlier this week, he ratcheted up duties on Chinese imports as punishment for Beijing's initial move to retaliate.
He has now imposed new tariffs on Chinese goods of 145 per cent since taking office.
China hit back with new tariffs on Friday, although Beijing indicated that this would be the last time it matched the US, should Trump take his duties any higher.
"Even if the US continues to impose even higher tariffs, it would no longer have any economic significance and would go down as a joke in the history of world economics," the finance ministry statement added.
"If the US continues to play a numbers game with tariffs, China will not respond," it added, however, leaving the door open for Beijing to turn to other types of retaliation, and reiterating that China would fight the US to the end.
Trump had told reporters at the White House on Thursday that he thought the United States could make a deal with China and said he respected Chinese President Xi Jinping.
"In a true sense he's been a friend of mine for a long period of time, and I think that we'll end up working out something that's very good for both countries," he said.
Xi, in his first public remarks on Trump's tariffs, told Spanish Prime Minister Pedro Sanchez during a meeting in Beijing on Friday that China and the European Union should "jointly oppose unilateral acts of bullying," in a clear swipe at Trump's tariff policies.
"There are no winners in a trade war," the Chinese leader told his guest, adding that by acting together, the world's second-largest economy and the 27-strong European trade bloc could defend their interests and help uphold "the global rules-based order," China's state news agency Xinhua reported.
Saif
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US-China trade: peace, not war, to benefit the world
The reciprocal tariff, imposed by President Donald Tramp, has fuelled tension in the international trade leaving the financial markets volatile across the globe. Though he took a break for three months apparently sensing the gravity of his crazy decision, tariffs on China was increased more, a move
US-China trade: peace, not war, to benefit the world
Hedayet Ahmed
Published :
Apr 20, 2025 22:15
Updated :
Apr 20, 2025 22:15
The reciprocal tariff, imposed by President Donald Tramp, has fuelled tension in the international trade leaving the financial markets volatile across the globe. Though he took a break for three months apparently sensing the gravity of his crazy decision, tariffs on China was increased more, a move termed as bullying by many.
But questions have been raised whether such bullying will do any good to the United States (US) or a stable and peaceful bilateral trade between the two most powerful economies can offer win-win situation for both.
A deeper analysis of the of the bilateral trade between these two countries shows that gains from economic and trade relations between China and the US are generally balanced and China's trade deficit with the US in travel services has expanded continuously.
It is also found that China's payments of intellectual property royalties to the US have increased steadily, and at the end of the day China and the US both can gain from bilateral cooperation in trade and economy.
BILATERAL TRADE IN GOODS: China-US two-way trade in goods has grown rapidly. Statistics from the United Nations (UN) show that in 2024, the volume of trade in goods between China and the US reached $688.28 billion, which was 275 times the volume of the trade in 1979, when diplomatic relations were established between the two countries, and more than eight times the volume of the trade in 2001, when China joined the World Trade Organisation (WTO). Currently, the US is China's largest goods export destination and the second-largest source of imports. In 2024, China's exports to the US and imports from the US accounted for 14.7 per cent and 6.3 per cent of China's total exports and imports for the year. China is the US's third-largest export destination and second-largest source of imports. In 2024, US exports to China and imports from China accounted for 7.0 per cent and 13.8 per cent of the US total exports and imports for the year respectively.
US exports to China have grown much faster than its exports to the rest of the world. Since China's entry into the WTO, US exports to China have grown rapidly, making China an important export market for the US. According to UN statistics, in 2024, US goods exports to China reached US$143.55 billion, representing a 648.4 per cent increase from US$19.18 billion in 2001, which far exceeded its overall export growth of 183.1 per cent during the same period.
China is an important export market for US agricultural products, integrated circuits, coal, liquefied petroleum gas, pharmaceuticals, and automobiles. China is the largest export market for US soybeans and cotton, the second-largest export market for integrated circuits and coal, and the third-largest export market for medical devices, liquefied petroleum gas, and automobiles. UN data shows that in 2024, China was the destination for 51.7 per cent of US soybean exports, 29.7 per cent of its cotton exports, 17.2 per cent of its integrated circuit exports, 10.7 per cent of its coal exports, 10.0 per cent of its liquefied petroleum gas exports, 9.4 per cent of its medical equipment exports, and 8.3 per cent of its passenger motor vehicle exports.
China-US bilateral trade is highly complementary as the two countries play to their comparative strengths.
Chinese customs data show that in 2024, China's top five export categories to the US were electrical machinery and equipment and parts thereof, mechanical appliances and parts thereof, furniture, toys, and plastics, accounting for 57.2 per cent of its total exports to the US. China's top five import categories from the US were mineral fuels, mechanical appliances and parts, electrical machinery and equipment and parts, optical instruments and apparatus, and oil seeds including soybeans, accounting for 52.8 per cent of its total imports from the US. Machinery and electrical products are particularly important in China-US bilateral trade, exhibiting an evident characteristic of intra-industry trade.
TRADE IN SERVICES: The US service industry is well developed with a complete range of sectors and strong international competitiveness. Overall, as the economy continues to develop and the standard of living rises, the demand for services in China is expanding significantly, leading to rapid growth in service trade between China and the US. According to the US Department of Commerce (USDOC), between 2001 and 2023, two-way trade in services between China and the US expanded from US$8.95 billion to US$66.86 billion, representing a seven-fold increase. China's statistics show the US as its second-largest trade partner in services in 2023, while US statistics show China as its fifth-largest services export market.
The US stands as the largest source of China's deficit in service trade, with the deficit generally exhibiting an upward trend. According to the USDOC, from 2001 to 2023, US service exports to China expanded from US$5.63 billion to US$46.71 billion, an 8.3-fold increase. The US annual service trade surplus with China expanded 11.5 times to US$26.57 billion. In 2019, the number soared to US$39.7 billion. In 2023, China continued to be the biggest contributor to the US service trade surplus, representing roughly 9.5 per cent of the total. China's service trade deficit with the US is primarily concentrated in three areas: travel (including education), intellectual property royalties, and transportation.
China's trade deficit with the US in travel services has expanded continuously. Data from the USDOC show that in 2023, Chinese tourists made approximately 1.1 million visits to the US, with their spending accounting for 14 per cent of US service exports to China. Tourism, medical treatment, and studying abroad remain the primary categories of service trade consumption for those travelling from China to the US. According to the USDOC, US exports of travel services (including education) to China grew from US$2.31 billion in 2001 to US$20.23 billion in 2023, representing an 8.8-fold increase.
China's payments of intellectual property royalties to the US have increased steadily. In 2023, intellectual property royalties remain a primary source of revenue for US service trade, accounting for 13.1 per cent of its service trade revenues. The intellectual property royalties the US receives from China represent one-fifth of the total royalties obtained from the Asia-Pacific region and account for 5 per cent of US global intellectual property royalty revenue.
TRADE BALANCE ISSUE: The trade balance in goods between China and the US is both an inevitable result of the structural issues in the US economy and a consequence of the comparative advantages and international division of labour between the two countries. China does not deliberately pursue a trade surplus. As a matter of fact, the ratio of China's current account surplus to GDP has decreased from 9.9 per cent in 2007 to 2.2 per cent in 2024.
A comprehensive and in-depth assessment is required to objectively evaluate whether China-US bilateral trade is balanced, as it cannot be based solely on trade in goods. In today's context of expanding economic globalisation and the prevalence of internationalised production, the scope of bilateral economic and trade relations has long since extended beyond trade in goods. Services and the local sales of domestic enterprises' branches in the other country (local sales generated by two-way investment) should also be included. When the three factors of trade in goods, trade in services, and the local sales of domestic enterprises' branches in the other country are taken into account, it can be seen that the economic and trade benefits gained by China and the US are roughly balanced.
Data from the USDOC show that in 2023, the US registered a surplus of US$26.57 billion in service trade -- a notable advantage for the US. Furthermore, in 2022, the sales revenue of the US-owned enterprises in China reached US$490.52 billion, significantly exceeding the US$78.64 billion in sales revenue generated by Chinese-owned enterprises in the US. The gap of US$411.88 billion underscores the more pronounced advantage of American enterprises in multinational operations.
Interestingly, the US trade deficit has increased globally, while the proportion attributable to China has decreased. According to the data of the BEA, USDOC, China's share of the total US deficit of trade in goods has fallen in each of the past six years, from 47.5 per cent in 2018 to 24.6 per cent in 2024, while the US trade deficit with other countries and regions has increased substantially in the same period.
In 2024, the US international deficit of trade in goods reached US$1.2 trillion, an increase of 13 per cent year on year, the fourth consecutive year that had exceeded US$1 trillion.
China's foreign trade is characterised by large volumes of both imports and exports, a pattern mirrored in China-US trade. The value-added accrued by China from much of the export of processed manufactured goods represents only a minor fraction of the total value of all commodities. However, current trade statistics methods calculate China's exports based on their gross value (the full value of goods exported by China to the US). Calculated by the trade in value-added method, the US trade deficit with China would significantly decrease.
China expanding imports demonstrates China's proactive commitment as a responsible major country and constitutes a significant contribution to global economic development. Since November 2018, the China International Import Expo (CIIE) has been held annually in Shanghai. Both the number of participating countries and the intended transaction value have shown year-on-year growth, with cumulative intended transaction value exceeding US$500 billion. In 2024, China's imports totalled RMB18.4 trillion, up 2.3 per cent year on year, with the value of imports reaching a record high. China has maintained its position as the world's second-largest import market for the 16th consecutive year.
China has systematically expanded the potential of its vast market, providing increased opportunities for countries worldwide. In 2024, China imported RMB9.86 trillion of goods from the Belt and Road Initiative partner countries, up 2.7 per cent, which accounted for 53.6 per cent of the country's total import value. Since December 1, 2024, China has implemented a policy granting zero-tariff treatment for 100 per cent of tariff lines to all least developed countries with which it has diplomatic relations, which led to an 18.1 per cent growth in imports from relevant countries in the first month. In the current period and for some time to come, China possesses substantial potential for import growth. It is projected that by 2030, the cumulative value of imports from developing countries alone is expected to exceed US$8 trillion.
Actively expanding imports is also a key part of China's strategy for high-level opening up. It will continue to use the major platforms such as the CIIE, China Import and Export Fair, China International Fair for Trade in Services, and China International Consumer Products Expo to boost imports. China will also develop national-level demonstration zones for the creative promotion of imports, steadily facilitate growth in imports, and explore more potential. The goal is to transform China's vast market into a shared global market, injecting new impetus into the world economy.
INVESTMENT & COOPERATION: China and the US are important bilateral investment partners. The US is a major source of foreign investment for China. According to the statistics of the Chinese Ministry of Commerce (MOFCOM), by the end of 2023, the actual accumulated amount of US investment in China was US$98.23 billion.
In 2023, the US set up 1,920 new enterprises in China, with an actual investment of US$3.36 billion, up 52 per cent from the previous year.
The US is also an important investment destination for China, and Chinese companies' direct investment in the US has grown rapidly and significantly. The statistics released by MOFCOM show that by the end of 2023, China's direct investment in the US had reached roughly US$83.69 billion, covering 18 sectors of the national economy. Chinese companies have established over 5,100 overseas enterprises in the US, with more than 85,000 local employees. China has also made a significant financial investment in the US. According to the US Department of the Treasury, as of the end of December 2024, China owned US$759 billion of US treasury bonds, as the second-largest foreign creditor of the US.
China-US economic and trade cooperation has created a large number of employment opportunities for the US. According to an estimate by the US-China Business Council, the number of American jobs supported by exports to China was 931,000 in 2022, ranking third among all countries, behind only Canada and Mexico.
The trade cooperation has also created a large quantity of business opportunities and profits for American enterprises. China has a vast market and continuously growing consumer demand. For example, Tesla's sales in China have continued to grow, surpassing 657,000 units in 2024, up 8.8 per cent year on year to a new historical high. More than 10 American insurance companies have subsidiaries in China. American financial institutions, such as Goldman Sachs, American Express, Bank of America, and MetLife, have achieved substantial investment returns as strategic investors in Chinese financial institutions.
Bilateral economic and trade cooperation has facilitated the upgrading of American industries. Through cooperation with China, American multinational corporations have boosted their international competitiveness by integrating the strengths of resources from both countries. Apple designs and develops mobile phones in the US, assembles and manufactures them in China, and sells them in global markets. Tesla has established wholly-owned mega factories in China, expanded production capacity, and exported to global markets. China has taken on certain production processes for American enterprises, which enabled the US to allocate resources such as capital to innovation and management, and focus on the development of high-end manufacturing and modern services. It has driven US industry towards higher value-added and more technologically advanced sectors, reducing US domestic pressure for energy consumption and environmental protection.
The cooperation has also brought tangible benefits to American consumers. The US has imported from China a large quantity of consumer goods, intermediate goods, and capital goods, which has supported the development of the supply and industrial chains of the US manufacturing industry, provided US consumers with more choices, lowered their cost of living, and increased the real purchasing power of the American people, especially the low and middle-income groups. It has also generated substantial business opportunities and profits for Chinese companies. By investing in the US, which is the world's largest consumer market and the most mature capital market, Chinese firms can expand their sales channels, increase the impact of their international brands, attract global clients and partners, and access financing more easily, thereby supporting rapid business growth.
US companies in China have provided experience for their Chinese counterparts in technical innovation, market management, and institutional innovation, driving Chinese companies to accelerate their transformation and upgrading and improve industry efficiency and product quality.
END NOTE: The Trump tariff, no doubt, severely violates World Trade Organisation (WTO) rules, severely undermines the rules-based multilateral trading system, and disrupts the global economic order. The Chinese government strongly condemns and resolutely opposes such move.
Their spokesman said, by taking such action, the US defies the fundamental laws of economics and market principles, disregards the balanced outcomes achieved through multilateral trade negotiations, ignores the fact that the US has long benefited substantially from international trade, and weaponises tariffs to exert maximum pressure for selfish interests. This is a typical act of unilateralism, protectionism and economic bullying. Under the guise of "reciprocity" and "fairness," the United States is playing a zero-sum game to pursue in essence "America First" and "American exceptionalism."
China is an ancient civilisation and a land of propriety and righteousness and the people in the US have shown extraordinary entrepreneurship. So, the joint collaboration on economy and trade between the two superpowers is needed for bringing back stability in the global trade and economy.
Hedayet Ahmed is an analyst on political economy.
Hedayet Ahmed
Published :
Apr 20, 2025 22:15
Updated :
Apr 20, 2025 22:15
The reciprocal tariff, imposed by President Donald Tramp, has fuelled tension in the international trade leaving the financial markets volatile across the globe. Though he took a break for three months apparently sensing the gravity of his crazy decision, tariffs on China was increased more, a move termed as bullying by many.
But questions have been raised whether such bullying will do any good to the United States (US) or a stable and peaceful bilateral trade between the two most powerful economies can offer win-win situation for both.
A deeper analysis of the of the bilateral trade between these two countries shows that gains from economic and trade relations between China and the US are generally balanced and China's trade deficit with the US in travel services has expanded continuously.
It is also found that China's payments of intellectual property royalties to the US have increased steadily, and at the end of the day China and the US both can gain from bilateral cooperation in trade and economy.
BILATERAL TRADE IN GOODS: China-US two-way trade in goods has grown rapidly. Statistics from the United Nations (UN) show that in 2024, the volume of trade in goods between China and the US reached $688.28 billion, which was 275 times the volume of the trade in 1979, when diplomatic relations were established between the two countries, and more than eight times the volume of the trade in 2001, when China joined the World Trade Organisation (WTO). Currently, the US is China's largest goods export destination and the second-largest source of imports. In 2024, China's exports to the US and imports from the US accounted for 14.7 per cent and 6.3 per cent of China's total exports and imports for the year. China is the US's third-largest export destination and second-largest source of imports. In 2024, US exports to China and imports from China accounted for 7.0 per cent and 13.8 per cent of the US total exports and imports for the year respectively.
US exports to China have grown much faster than its exports to the rest of the world. Since China's entry into the WTO, US exports to China have grown rapidly, making China an important export market for the US. According to UN statistics, in 2024, US goods exports to China reached US$143.55 billion, representing a 648.4 per cent increase from US$19.18 billion in 2001, which far exceeded its overall export growth of 183.1 per cent during the same period.
China is an important export market for US agricultural products, integrated circuits, coal, liquefied petroleum gas, pharmaceuticals, and automobiles. China is the largest export market for US soybeans and cotton, the second-largest export market for integrated circuits and coal, and the third-largest export market for medical devices, liquefied petroleum gas, and automobiles. UN data shows that in 2024, China was the destination for 51.7 per cent of US soybean exports, 29.7 per cent of its cotton exports, 17.2 per cent of its integrated circuit exports, 10.7 per cent of its coal exports, 10.0 per cent of its liquefied petroleum gas exports, 9.4 per cent of its medical equipment exports, and 8.3 per cent of its passenger motor vehicle exports.
China-US bilateral trade is highly complementary as the two countries play to their comparative strengths.
Chinese customs data show that in 2024, China's top five export categories to the US were electrical machinery and equipment and parts thereof, mechanical appliances and parts thereof, furniture, toys, and plastics, accounting for 57.2 per cent of its total exports to the US. China's top five import categories from the US were mineral fuels, mechanical appliances and parts, electrical machinery and equipment and parts, optical instruments and apparatus, and oil seeds including soybeans, accounting for 52.8 per cent of its total imports from the US. Machinery and electrical products are particularly important in China-US bilateral trade, exhibiting an evident characteristic of intra-industry trade.
TRADE IN SERVICES: The US service industry is well developed with a complete range of sectors and strong international competitiveness. Overall, as the economy continues to develop and the standard of living rises, the demand for services in China is expanding significantly, leading to rapid growth in service trade between China and the US. According to the US Department of Commerce (USDOC), between 2001 and 2023, two-way trade in services between China and the US expanded from US$8.95 billion to US$66.86 billion, representing a seven-fold increase. China's statistics show the US as its second-largest trade partner in services in 2023, while US statistics show China as its fifth-largest services export market.
The US stands as the largest source of China's deficit in service trade, with the deficit generally exhibiting an upward trend. According to the USDOC, from 2001 to 2023, US service exports to China expanded from US$5.63 billion to US$46.71 billion, an 8.3-fold increase. The US annual service trade surplus with China expanded 11.5 times to US$26.57 billion. In 2019, the number soared to US$39.7 billion. In 2023, China continued to be the biggest contributor to the US service trade surplus, representing roughly 9.5 per cent of the total. China's service trade deficit with the US is primarily concentrated in three areas: travel (including education), intellectual property royalties, and transportation.
China's trade deficit with the US in travel services has expanded continuously. Data from the USDOC show that in 2023, Chinese tourists made approximately 1.1 million visits to the US, with their spending accounting for 14 per cent of US service exports to China. Tourism, medical treatment, and studying abroad remain the primary categories of service trade consumption for those travelling from China to the US. According to the USDOC, US exports of travel services (including education) to China grew from US$2.31 billion in 2001 to US$20.23 billion in 2023, representing an 8.8-fold increase.
China's payments of intellectual property royalties to the US have increased steadily. In 2023, intellectual property royalties remain a primary source of revenue for US service trade, accounting for 13.1 per cent of its service trade revenues. The intellectual property royalties the US receives from China represent one-fifth of the total royalties obtained from the Asia-Pacific region and account for 5 per cent of US global intellectual property royalty revenue.
TRADE BALANCE ISSUE: The trade balance in goods between China and the US is both an inevitable result of the structural issues in the US economy and a consequence of the comparative advantages and international division of labour between the two countries. China does not deliberately pursue a trade surplus. As a matter of fact, the ratio of China's current account surplus to GDP has decreased from 9.9 per cent in 2007 to 2.2 per cent in 2024.
A comprehensive and in-depth assessment is required to objectively evaluate whether China-US bilateral trade is balanced, as it cannot be based solely on trade in goods. In today's context of expanding economic globalisation and the prevalence of internationalised production, the scope of bilateral economic and trade relations has long since extended beyond trade in goods. Services and the local sales of domestic enterprises' branches in the other country (local sales generated by two-way investment) should also be included. When the three factors of trade in goods, trade in services, and the local sales of domestic enterprises' branches in the other country are taken into account, it can be seen that the economic and trade benefits gained by China and the US are roughly balanced.
Data from the USDOC show that in 2023, the US registered a surplus of US$26.57 billion in service trade -- a notable advantage for the US. Furthermore, in 2022, the sales revenue of the US-owned enterprises in China reached US$490.52 billion, significantly exceeding the US$78.64 billion in sales revenue generated by Chinese-owned enterprises in the US. The gap of US$411.88 billion underscores the more pronounced advantage of American enterprises in multinational operations.
Interestingly, the US trade deficit has increased globally, while the proportion attributable to China has decreased. According to the data of the BEA, USDOC, China's share of the total US deficit of trade in goods has fallen in each of the past six years, from 47.5 per cent in 2018 to 24.6 per cent in 2024, while the US trade deficit with other countries and regions has increased substantially in the same period.
In 2024, the US international deficit of trade in goods reached US$1.2 trillion, an increase of 13 per cent year on year, the fourth consecutive year that had exceeded US$1 trillion.
China's foreign trade is characterised by large volumes of both imports and exports, a pattern mirrored in China-US trade. The value-added accrued by China from much of the export of processed manufactured goods represents only a minor fraction of the total value of all commodities. However, current trade statistics methods calculate China's exports based on their gross value (the full value of goods exported by China to the US). Calculated by the trade in value-added method, the US trade deficit with China would significantly decrease.
China expanding imports demonstrates China's proactive commitment as a responsible major country and constitutes a significant contribution to global economic development. Since November 2018, the China International Import Expo (CIIE) has been held annually in Shanghai. Both the number of participating countries and the intended transaction value have shown year-on-year growth, with cumulative intended transaction value exceeding US$500 billion. In 2024, China's imports totalled RMB18.4 trillion, up 2.3 per cent year on year, with the value of imports reaching a record high. China has maintained its position as the world's second-largest import market for the 16th consecutive year.
China has systematically expanded the potential of its vast market, providing increased opportunities for countries worldwide. In 2024, China imported RMB9.86 trillion of goods from the Belt and Road Initiative partner countries, up 2.7 per cent, which accounted for 53.6 per cent of the country's total import value. Since December 1, 2024, China has implemented a policy granting zero-tariff treatment for 100 per cent of tariff lines to all least developed countries with which it has diplomatic relations, which led to an 18.1 per cent growth in imports from relevant countries in the first month. In the current period and for some time to come, China possesses substantial potential for import growth. It is projected that by 2030, the cumulative value of imports from developing countries alone is expected to exceed US$8 trillion.
Actively expanding imports is also a key part of China's strategy for high-level opening up. It will continue to use the major platforms such as the CIIE, China Import and Export Fair, China International Fair for Trade in Services, and China International Consumer Products Expo to boost imports. China will also develop national-level demonstration zones for the creative promotion of imports, steadily facilitate growth in imports, and explore more potential. The goal is to transform China's vast market into a shared global market, injecting new impetus into the world economy.
INVESTMENT & COOPERATION: China and the US are important bilateral investment partners. The US is a major source of foreign investment for China. According to the statistics of the Chinese Ministry of Commerce (MOFCOM), by the end of 2023, the actual accumulated amount of US investment in China was US$98.23 billion.
In 2023, the US set up 1,920 new enterprises in China, with an actual investment of US$3.36 billion, up 52 per cent from the previous year.
The US is also an important investment destination for China, and Chinese companies' direct investment in the US has grown rapidly and significantly. The statistics released by MOFCOM show that by the end of 2023, China's direct investment in the US had reached roughly US$83.69 billion, covering 18 sectors of the national economy. Chinese companies have established over 5,100 overseas enterprises in the US, with more than 85,000 local employees. China has also made a significant financial investment in the US. According to the US Department of the Treasury, as of the end of December 2024, China owned US$759 billion of US treasury bonds, as the second-largest foreign creditor of the US.
China-US economic and trade cooperation has created a large number of employment opportunities for the US. According to an estimate by the US-China Business Council, the number of American jobs supported by exports to China was 931,000 in 2022, ranking third among all countries, behind only Canada and Mexico.
The trade cooperation has also created a large quantity of business opportunities and profits for American enterprises. China has a vast market and continuously growing consumer demand. For example, Tesla's sales in China have continued to grow, surpassing 657,000 units in 2024, up 8.8 per cent year on year to a new historical high. More than 10 American insurance companies have subsidiaries in China. American financial institutions, such as Goldman Sachs, American Express, Bank of America, and MetLife, have achieved substantial investment returns as strategic investors in Chinese financial institutions.
Bilateral economic and trade cooperation has facilitated the upgrading of American industries. Through cooperation with China, American multinational corporations have boosted their international competitiveness by integrating the strengths of resources from both countries. Apple designs and develops mobile phones in the US, assembles and manufactures them in China, and sells them in global markets. Tesla has established wholly-owned mega factories in China, expanded production capacity, and exported to global markets. China has taken on certain production processes for American enterprises, which enabled the US to allocate resources such as capital to innovation and management, and focus on the development of high-end manufacturing and modern services. It has driven US industry towards higher value-added and more technologically advanced sectors, reducing US domestic pressure for energy consumption and environmental protection.
The cooperation has also brought tangible benefits to American consumers. The US has imported from China a large quantity of consumer goods, intermediate goods, and capital goods, which has supported the development of the supply and industrial chains of the US manufacturing industry, provided US consumers with more choices, lowered their cost of living, and increased the real purchasing power of the American people, especially the low and middle-income groups. It has also generated substantial business opportunities and profits for Chinese companies. By investing in the US, which is the world's largest consumer market and the most mature capital market, Chinese firms can expand their sales channels, increase the impact of their international brands, attract global clients and partners, and access financing more easily, thereby supporting rapid business growth.
US companies in China have provided experience for their Chinese counterparts in technical innovation, market management, and institutional innovation, driving Chinese companies to accelerate their transformation and upgrading and improve industry efficiency and product quality.
END NOTE: The Trump tariff, no doubt, severely violates World Trade Organisation (WTO) rules, severely undermines the rules-based multilateral trading system, and disrupts the global economic order. The Chinese government strongly condemns and resolutely opposes such move.
Their spokesman said, by taking such action, the US defies the fundamental laws of economics and market principles, disregards the balanced outcomes achieved through multilateral trade negotiations, ignores the fact that the US has long benefited substantially from international trade, and weaponises tariffs to exert maximum pressure for selfish interests. This is a typical act of unilateralism, protectionism and economic bullying. Under the guise of "reciprocity" and "fairness," the United States is playing a zero-sum game to pursue in essence "America First" and "American exceptionalism."
China is an ancient civilisation and a land of propriety and righteousness and the people in the US have shown extraordinary entrepreneurship. So, the joint collaboration on economy and trade between the two superpowers is needed for bringing back stability in the global trade and economy.
Hedayet Ahmed is an analyst on political economy.
Saif
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China waives tariffs on some US goods, but denies Trump's claim that talks are underway
China exempted some US imports from its steep tariffs in a sign on Friday that the trade war between the two countries could be easing, though China quickly knocked down US President Donald Trump's assertion that negotiations were underway. Business groups said China has allowed some US-made pharm
China waives tariffs on some US goods, but denies Trump's claim that talks are underway
REUTERS
Published :
Apr 25, 2025 21:01
Updated :
US President Donald Trump holds a chart next to US Secretary of Commerce Howard Lutnick as Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, DC, US, April 2, 2025. Photo : REUTERS/Carlos Barria
China exempted some US imports from its steep tariffs in a sign on Friday that the trade war between the two countries could be easing, though China quickly knocked down US President Donald Trump's assertion that negotiations were underway.
Business groups said China has allowed some US-made pharmaceuticals to enter the country without paying the 125 per cent duties that Beijing imposed earlier this month in response to Trump's 145 per cent tariffs on US imports.
Also, a list of 131 product categories said to be under consideration for exemptions was circulating among some businesses and trade groups. Reuters could not verify the list, which includes vaccines, chemicals and jet engines, and China has not yet communicated publicly on the issue.
Trump's administration has in recent days signaled it is looking to de-escalate the confrontation between the world's two largest economies, and Trump himself told TIME magazine that talks were taking place and that Chinese President Xi Jinping had called him.
"I don't think it's a sign of weakness on his behalf," he said.
China denied that discussions were happening.
"China and the US are NOT having any consultation or negotiation on #tariffs. The US should stop creating confusion," the Chinese Embassy in Washington wrote on social media.
In addition to the steep tariffs on China, Trump has announced targeted tariffs on dozens of other countries, which he has suspended until July 9. That has set off a scramble among US trading partners to strike individual trade deals with Washington before the deadline -- a tall order, given that past trade deals have typically taken years to negotiate.
Trump told reporters at the White House that he was very close to a deal with Japan. That is seen by analysts as a "test case" for other bilateral trade agreements, though talks could be difficult. Some expect Prime Minister Shigeru Ishiba and Trump to announce a pact when they meet at the G7 summit in Canada in June.
Trump separately told TIME that he had made "200 deals" that would be completed within three to four weeks, though he declined to provide specifics. He said he would consider it a "total victory" if tariffs were still 20 per cent to 50 per cent a year from now.
The office of the US Trade Representative said it had held a productive meeting with South Korea on Friday.
Trump has argued that his thicket of trade barriers will revive US manufacturing industries that have been hollowed out by global competition. Economists, however, broadly warn that they would lead to higher prices for US consumers and increase the risk of recession.
In addition to the country-specific tariffs, Trump has also imposed a blanket 10 per cent tariff on all other US imports and higher duties on steel, aluminum and autos. He has also floated additional industry-specific levies on pharmaceuticals and semiconductors.
European and Asian stocks headed for a second straight week of gains on Friday and the dollar eyed its first weekly rise in more than a month, as investors took comfort from signs the US and China were prepared to pull back from their trade war. Wall Street's main indexes opened slightly lower.
REUTERS
Published :
Apr 25, 2025 21:01
Updated :
US President Donald Trump holds a chart next to US Secretary of Commerce Howard Lutnick as Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, DC, US, April 2, 2025. Photo : REUTERS/Carlos Barria
China exempted some US imports from its steep tariffs in a sign on Friday that the trade war between the two countries could be easing, though China quickly knocked down US President Donald Trump's assertion that negotiations were underway.
Business groups said China has allowed some US-made pharmaceuticals to enter the country without paying the 125 per cent duties that Beijing imposed earlier this month in response to Trump's 145 per cent tariffs on US imports.
Also, a list of 131 product categories said to be under consideration for exemptions was circulating among some businesses and trade groups. Reuters could not verify the list, which includes vaccines, chemicals and jet engines, and China has not yet communicated publicly on the issue.
Trump's administration has in recent days signaled it is looking to de-escalate the confrontation between the world's two largest economies, and Trump himself told TIME magazine that talks were taking place and that Chinese President Xi Jinping had called him.
"I don't think it's a sign of weakness on his behalf," he said.
China denied that discussions were happening.
"China and the US are NOT having any consultation or negotiation on #tariffs. The US should stop creating confusion," the Chinese Embassy in Washington wrote on social media.
In addition to the steep tariffs on China, Trump has announced targeted tariffs on dozens of other countries, which he has suspended until July 9. That has set off a scramble among US trading partners to strike individual trade deals with Washington before the deadline -- a tall order, given that past trade deals have typically taken years to negotiate.
Trump told reporters at the White House that he was very close to a deal with Japan. That is seen by analysts as a "test case" for other bilateral trade agreements, though talks could be difficult. Some expect Prime Minister Shigeru Ishiba and Trump to announce a pact when they meet at the G7 summit in Canada in June.
Trump separately told TIME that he had made "200 deals" that would be completed within three to four weeks, though he declined to provide specifics. He said he would consider it a "total victory" if tariffs were still 20 per cent to 50 per cent a year from now.
The office of the US Trade Representative said it had held a productive meeting with South Korea on Friday.
Trump has argued that his thicket of trade barriers will revive US manufacturing industries that have been hollowed out by global competition. Economists, however, broadly warn that they would lead to higher prices for US consumers and increase the risk of recession.
In addition to the country-specific tariffs, Trump has also imposed a blanket 10 per cent tariff on all other US imports and higher duties on steel, aluminum and autos. He has also floated additional industry-specific levies on pharmaceuticals and semiconductors.
European and Asian stocks headed for a second straight week of gains on Friday and the dollar eyed its first weekly rise in more than a month, as investors took comfort from signs the US and China were prepared to pull back from their trade war. Wall Street's main indexes opened slightly lower.
Saif
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US wants to start tariff talks with China, state media says
The United States has approached China seeking talks over President Donald Trump's 145 per cent tariffs, a social media account affiliated with Chinese state media said on Thursday, potentially signalling Beijing's openness to negotiations. "The US has proactively reached out to China through mult
US wants to start tariff talks with China, state media says
REUTERS
Published :
May 01, 2025 19:45
Updated :
May 01, 2025 19:45
A China Shipping container is seen at the port of Oakland, as trade tensions escalate over U.S. tariffs with China, in Oakland, California, U.S., April 10, 2025. Photo : REUTERS/Carlos Barria/Files
The United States has approached China seeking talks over President Donald Trump's 145 per cent tariffs, a social media account affiliated with Chinese state media said on Thursday, potentially signalling Beijing's openness to negotiations.
"The US has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue," Yuyuan Tantian said in a post published on its official Weibo social media account, citing anonymous sources.
US officials, including Treasury Secretary Scott Bessent and White House economic adviser Kevin Hassett, also expressed hope for progress in easing trade tensions.
Hassett told CNBC that there have been "loose discussions all over both governments" about the tariffs and China's easing of duties on some US goods last week was a sign of progress.
Beijing has made little effort to contain its anger at the tariffs, which it says are tantamount to bullying and cannot stop the rise of the world's second-largest economy. Instead, it has directed its fury at rallying public and global condemnation of the import curbs - showing no interest in a reprieve.
That said, alongside leveraging its propaganda machine to hit back at the duties, China has quietly created a list of US-made products it will exempt from its retaliatory 125 per cent tariffs - including select pharmaceuticals, microchips and jet engines - Reuters has reported, to ease the duties' impact.
Bessent mentioned no specific talks during a Fox Business Network interview, but said that high tariffs of 145 per cent on the US side and 125 per cent on the Chinese side needed to be de-escalated for negotiations to begin.
"I am confident that the Chinese will want to reach a deal. And as I said, this is going to be a multi-step process," Bessent said. "First, we need to de-escalate, and then over time, we will start focusing on a larger trade deal."
He said that among the first steps would be to revisit China's failure to make good on purchase commitments for American goods made as part of Trump's 2020 "Phase 1" trade deal that ended his first-term trade war with Beijing.
That deal called for China to increase purchases of American manufactured and agricultural products and services by $200 billion annually over two years, but the COVID-19 pandemic hit just after its signing.
Bessent also said that "insidious" non-tariff trade barriers and intellectual property theft also would be part of negotiations over tariffs with China, adding: "everything is on the table for the economic relationship."
TARIFFS TOO HIGH
Once Trump's tariffs topped 35 per cent they became prohibitively high for Chinese exporters.
Nomura Securities said that some 16 million Chinese people could lose their jobs once the long-term ripple effects of a 50% drop in Chinese exports to the US work their way through the economy.
Bessent said the pressure was on China because it is more dependent on exports to the U.S. than vice versa.
"They sell us about five times more than we sell them. So their factories are closing down as we speak," Bessent said. "We're going into the holiday season. Orders are placed for that now. So if those orders aren't placed, it could be devastating for the Chinese."
Still, Beijing has been adamant it will stand and fight, rather than rush to the negotiation table - with the foreign ministry likening yielding to Trump's tariffs to "drinking poison."
"Before the US takes any substantive action, China has no need to engage in talks with the US," the post from Yuyuan Tantian added, citing anonymous experts. "However, if the US wishes to initiate contact, there is no harm at this stage for China to engage."
"China needs to observe closely, even force out the US' true intentions, to maintain the initiative in both negotiation and confrontation," it concluded.
Trump said in a US media interview published last Friday that his administration was talking with China to reach a tariff deal and that Chinese President Xi Jinping had called him. Beijing last week repeatedly denied such talks were taking place, accusing Washington of "misleading the public".
NO KNOWN TALKS
Guo Jiakun, a Chinese foreign ministry spokesperson, said on Wednesday: "as far as I know, there have been no consultations or negotiations between China and the US on tariffs".
Chinese officials have consistently stated that Beijing is open to talks, with the caveat that "dialogue and negotiation must be based on equality, respect and mutual benefit."
Yuyuan Tantian is not among China's most authoritative state media outlets. The Global Times, which is owned by the newspaper of the governing Communist Party, People's Daily, has often been first to report China's next steps in trade disagreements over the past few years.
Trump said on Wednesday he believed there was a "very good chance" his administration could do a deal with China, hours after Xi called on officials to take action to adjust to changes in the international environment, without explicitly mentioning the United States.
REUTERS
Published :
May 01, 2025 19:45
Updated :
May 01, 2025 19:45
A China Shipping container is seen at the port of Oakland, as trade tensions escalate over U.S. tariffs with China, in Oakland, California, U.S., April 10, 2025. Photo : REUTERS/Carlos Barria/Files
The United States has approached China seeking talks over President Donald Trump's 145 per cent tariffs, a social media account affiliated with Chinese state media said on Thursday, potentially signalling Beijing's openness to negotiations.
"The US has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue," Yuyuan Tantian said in a post published on its official Weibo social media account, citing anonymous sources.
US officials, including Treasury Secretary Scott Bessent and White House economic adviser Kevin Hassett, also expressed hope for progress in easing trade tensions.
Hassett told CNBC that there have been "loose discussions all over both governments" about the tariffs and China's easing of duties on some US goods last week was a sign of progress.
Beijing has made little effort to contain its anger at the tariffs, which it says are tantamount to bullying and cannot stop the rise of the world's second-largest economy. Instead, it has directed its fury at rallying public and global condemnation of the import curbs - showing no interest in a reprieve.
That said, alongside leveraging its propaganda machine to hit back at the duties, China has quietly created a list of US-made products it will exempt from its retaliatory 125 per cent tariffs - including select pharmaceuticals, microchips and jet engines - Reuters has reported, to ease the duties' impact.
Bessent mentioned no specific talks during a Fox Business Network interview, but said that high tariffs of 145 per cent on the US side and 125 per cent on the Chinese side needed to be de-escalated for negotiations to begin.
"I am confident that the Chinese will want to reach a deal. And as I said, this is going to be a multi-step process," Bessent said. "First, we need to de-escalate, and then over time, we will start focusing on a larger trade deal."
He said that among the first steps would be to revisit China's failure to make good on purchase commitments for American goods made as part of Trump's 2020 "Phase 1" trade deal that ended his first-term trade war with Beijing.
That deal called for China to increase purchases of American manufactured and agricultural products and services by $200 billion annually over two years, but the COVID-19 pandemic hit just after its signing.
Bessent also said that "insidious" non-tariff trade barriers and intellectual property theft also would be part of negotiations over tariffs with China, adding: "everything is on the table for the economic relationship."
TARIFFS TOO HIGH
Once Trump's tariffs topped 35 per cent they became prohibitively high for Chinese exporters.
Nomura Securities said that some 16 million Chinese people could lose their jobs once the long-term ripple effects of a 50% drop in Chinese exports to the US work their way through the economy.
Bessent said the pressure was on China because it is more dependent on exports to the U.S. than vice versa.
"They sell us about five times more than we sell them. So their factories are closing down as we speak," Bessent said. "We're going into the holiday season. Orders are placed for that now. So if those orders aren't placed, it could be devastating for the Chinese."
Still, Beijing has been adamant it will stand and fight, rather than rush to the negotiation table - with the foreign ministry likening yielding to Trump's tariffs to "drinking poison."
"Before the US takes any substantive action, China has no need to engage in talks with the US," the post from Yuyuan Tantian added, citing anonymous experts. "However, if the US wishes to initiate contact, there is no harm at this stage for China to engage."
"China needs to observe closely, even force out the US' true intentions, to maintain the initiative in both negotiation and confrontation," it concluded.
Trump said in a US media interview published last Friday that his administration was talking with China to reach a tariff deal and that Chinese President Xi Jinping had called him. Beijing last week repeatedly denied such talks were taking place, accusing Washington of "misleading the public".
NO KNOWN TALKS
Guo Jiakun, a Chinese foreign ministry spokesperson, said on Wednesday: "as far as I know, there have been no consultations or negotiations between China and the US on tariffs".
Chinese officials have consistently stated that Beijing is open to talks, with the caveat that "dialogue and negotiation must be based on equality, respect and mutual benefit."
Yuyuan Tantian is not among China's most authoritative state media outlets. The Global Times, which is owned by the newspaper of the governing Communist Party, People's Daily, has often been first to report China's next steps in trade disagreements over the past few years.
Trump said on Wednesday he believed there was a "very good chance" his administration could do a deal with China, hours after Xi called on officials to take action to adjust to changes in the international environment, without explicitly mentioning the United States.
Saif
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Hassett says seeing positive developments around US-China trade meeting
White House economic adviser Kevin Hassett said on Friday signs in advance of weekend US-China trade talks in Switzerland are promising and positive. Hassett, director of the National Economic Council, said he spoke with US Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent a
Hassett says seeing positive developments around US-China trade meeting
REUTERS
Published :
May 09, 2025 19:25
Updated :
May 09, 2025 19:26
National Economic Council Director Kevin Hassett speaks to reporters at the White House in Washington, DC, US, April 18, 2025. Photo : REUTERS/Nathan Howard/Files
White House economic adviser Kevin Hassett said on Friday signs in advance of weekend US-China trade talks in Switzerland are promising and positive.
Hassett, director of the National Economic Council, said he spoke with US Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent as they were leaving for the meeting Thursday night.
"Everything that's been going on with the meeting in Switzerland is very promising to us," Hassett said in an interview with CNBC. "We're seeing extreme respect, treating both sides with respect. We're seeing collegiality and also sketches of positive developments."
REUTERS
Published :
May 09, 2025 19:25
Updated :
May 09, 2025 19:26
National Economic Council Director Kevin Hassett speaks to reporters at the White House in Washington, DC, US, April 18, 2025. Photo : REUTERS/Nathan Howard/Files
White House economic adviser Kevin Hassett said on Friday signs in advance of weekend US-China trade talks in Switzerland are promising and positive.
Hassett, director of the National Economic Council, said he spoke with US Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent as they were leaving for the meeting Thursday night.
"Everything that's been going on with the meeting in Switzerland is very promising to us," Hassett said in an interview with CNBC. "We're seeing extreme respect, treating both sides with respect. We're seeing collegiality and also sketches of positive developments."
Saif
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US ‘optimistic’ amid trade talks with China
Washington expressed optimism as talks with top Chinese officials continued for a second day Sunday in a bid to de-escalate trade tensions sparked by president Donald Trump’s aggressive tariff rollout...
www.newagebd.net
US ‘optimistic’ amid trade talks with China
Agence France-Presse . Geneva 11 May, 2025, 22:41
Washington expressed optimism as talks with top Chinese officials continued for a second day Sunday in a bid to de-escalate trade tensions sparked by president Donald Trump’s aggressive tariff rollout. | AFP photo
Washington expressed optimism as talks with top Chinese officials continued for a second day Sunday in a bid to de-escalate trade tensions sparked by president Donald Trump’s aggressive tariff rollout.
As the two days of high-level negotiations in Geneva neared an end, US commerce secretary Howard Lutnick told CNN Sunday the administration was ‘optimistic that things will work out well’.
That comment came after Trump posted on Truth Social following the first day of negotiations that Saturday’s discussions had been ‘very good’, deeming them ‘a total reset negotiated in a friendly, but constructive, manner’.
Beijing had yet to comment Sunday, but on Saturday Chinese state news agency Xinhua described the talks as ‘an important step in promoting the resolution of the issue’.
The closed-door meetings between US treasury secretary Scott Bessent, trade representative Jamieson Greer and Chinese vice-premier He Lifeng are taking place at the residence of the Swiss ambassador to the United Nations in Geneva.
After taking a two-hour lunch break, the delegations returned to the discrete villa with sky-blue shutters on the left bank of Lake Geneva at around 3:30pm (1330 GMT), according to an AFP journalist on site.
Lutnick told CNN the teams were hard at work on negotiations that are ‘really important’ for both sides, but did not provide further detail on the contents of the talks.
The discussions are the first time senior officials from the world’s two largest economies have met face-to-face to tackle the thorny topic of trade since Trump slapped steep new levies on China last month, sparking a robust retaliation from Beijing.
‘These talks reflect that the current state of the trade relations with these extremely high tariffs is ultimately in the interests of neither the United States nor China,’ Citigroup global chief economist Nathan Sheets told AFP, calling the tariffs a ‘lose-lose proposition.’
The tariffs imposed by Trump on the Asian manufacturing giant since the start of the year currently total 145 per cent, with cumulative US duties on some Chinese goods reaching a staggering 245 per cent.
In retaliation, China put 125 per cent tariffs on US goods.
Ahead of the meeting, Trump signalled he might lower the tariffs, suggesting on social media that an ’80 per cent Tariff on China seems right!’
However, his press secretary Karoline Leavitt later clarified that the United States would not lower tariffs unilaterally, and that China would also need to make concessions.
Going into the meeting, both sides played down expectations of a major change in trade relations, with Bessent underlining a focus on ‘de-escalation’ and not a ‘big trade deal,’ and Beijing insisting the United States must ease tariffs first.
The fact the talks are even happening ‘is good news for business, and for the financial markets,’ said Gary Hufbauer, a senior non-resident fellow at the Peterson Institute for International Economics (PIIE).
But Hufbauer cautioned he was ‘very sceptical that there will be any return to something like normal US-China trade relations,’ with even a tariff rate of 70 to 80 per cent still potentially halving bilateral trade.
China’s vice premier went into the discussions buoyed by Friday’s news that China’s exports rose last month despite the trade war.
The unexpected development was attributed by experts to a re-routing of trade to Southeast Asia to mitigate US tariffs.
Among some of the more moderate Trump officials like Bessent and Lutnick, ‘there’s a realisation that China is better equipped to deal with this trade war than the US,’ said Hufbauer.
The Geneva meeting comes after Trump unveiled a trade agreement with Britain, the first deal with any country since he unleashed his blitz of global tariffs.
The five-page, non-binding deal confirmed to nervous investors that the United States is willing to negotiate sector-specific relief from recent duties, but maintained a 10 per cent baseline levy on most British goods.
Following the US-UK trade announcement, analysts have voiced pessimism about the likelihood negotiations will lead to any significant changes in the US-China trade relationship.
‘It’s nice that they’re talking. But my expectations for the actual outcomes of this first round of talks is pretty limited,’ Sheets from Citigroup said.
In his Truth Social post, Trump said the talks had made ‘GREAT PROGRESS!!’
‘We want to see, for the good of both China and the US, an opening up of China to American business,’ he added.
Agence France-Presse . Geneva 11 May, 2025, 22:41
Washington expressed optimism as talks with top Chinese officials continued for a second day Sunday in a bid to de-escalate trade tensions sparked by president Donald Trump’s aggressive tariff rollout. | AFP photo
Washington expressed optimism as talks with top Chinese officials continued for a second day Sunday in a bid to de-escalate trade tensions sparked by president Donald Trump’s aggressive tariff rollout.
As the two days of high-level negotiations in Geneva neared an end, US commerce secretary Howard Lutnick told CNN Sunday the administration was ‘optimistic that things will work out well’.
That comment came after Trump posted on Truth Social following the first day of negotiations that Saturday’s discussions had been ‘very good’, deeming them ‘a total reset negotiated in a friendly, but constructive, manner’.
Beijing had yet to comment Sunday, but on Saturday Chinese state news agency Xinhua described the talks as ‘an important step in promoting the resolution of the issue’.
The closed-door meetings between US treasury secretary Scott Bessent, trade representative Jamieson Greer and Chinese vice-premier He Lifeng are taking place at the residence of the Swiss ambassador to the United Nations in Geneva.
After taking a two-hour lunch break, the delegations returned to the discrete villa with sky-blue shutters on the left bank of Lake Geneva at around 3:30pm (1330 GMT), according to an AFP journalist on site.
Lutnick told CNN the teams were hard at work on negotiations that are ‘really important’ for both sides, but did not provide further detail on the contents of the talks.
The discussions are the first time senior officials from the world’s two largest economies have met face-to-face to tackle the thorny topic of trade since Trump slapped steep new levies on China last month, sparking a robust retaliation from Beijing.
‘These talks reflect that the current state of the trade relations with these extremely high tariffs is ultimately in the interests of neither the United States nor China,’ Citigroup global chief economist Nathan Sheets told AFP, calling the tariffs a ‘lose-lose proposition.’
The tariffs imposed by Trump on the Asian manufacturing giant since the start of the year currently total 145 per cent, with cumulative US duties on some Chinese goods reaching a staggering 245 per cent.
In retaliation, China put 125 per cent tariffs on US goods.
Ahead of the meeting, Trump signalled he might lower the tariffs, suggesting on social media that an ’80 per cent Tariff on China seems right!’
However, his press secretary Karoline Leavitt later clarified that the United States would not lower tariffs unilaterally, and that China would also need to make concessions.
Going into the meeting, both sides played down expectations of a major change in trade relations, with Bessent underlining a focus on ‘de-escalation’ and not a ‘big trade deal,’ and Beijing insisting the United States must ease tariffs first.
The fact the talks are even happening ‘is good news for business, and for the financial markets,’ said Gary Hufbauer, a senior non-resident fellow at the Peterson Institute for International Economics (PIIE).
But Hufbauer cautioned he was ‘very sceptical that there will be any return to something like normal US-China trade relations,’ with even a tariff rate of 70 to 80 per cent still potentially halving bilateral trade.
China’s vice premier went into the discussions buoyed by Friday’s news that China’s exports rose last month despite the trade war.
The unexpected development was attributed by experts to a re-routing of trade to Southeast Asia to mitigate US tariffs.
Among some of the more moderate Trump officials like Bessent and Lutnick, ‘there’s a realisation that China is better equipped to deal with this trade war than the US,’ said Hufbauer.
The Geneva meeting comes after Trump unveiled a trade agreement with Britain, the first deal with any country since he unleashed his blitz of global tariffs.
The five-page, non-binding deal confirmed to nervous investors that the United States is willing to negotiate sector-specific relief from recent duties, but maintained a 10 per cent baseline levy on most British goods.
Following the US-UK trade announcement, analysts have voiced pessimism about the likelihood negotiations will lead to any significant changes in the US-China trade relationship.
‘It’s nice that they’re talking. But my expectations for the actual outcomes of this first round of talks is pretty limited,’ Sheets from Citigroup said.
In his Truth Social post, Trump said the talks had made ‘GREAT PROGRESS!!’
‘We want to see, for the good of both China and the US, an opening up of China to American business,’ he added.
Saif
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US-China trade truce and their existential conflict
The US and China have brokered a temporary mutual reduction in tariffs for 90 days in a bid to deescalate a simmering trade war initiated by US president Donald Trump against China and other countries around the world. Trump's trade war has roiled financial markets and threatened global growth. Dur
US-China trade truce and their existential conflict
Muhammad Mahmood
Published :
May 18, 2025 00:16
Updated :
May 18, 2025 00:16
The US and China have brokered a temporary mutual reduction in tariffs for 90 days in a bid to deescalate a simmering trade war initiated by US president Donald Trump against China and other countries around the world. Trump's trade war has roiled financial markets and threatened global growth. During the pause, both parties agreed that talks on economic and trade issues would continue toward an agreement but there were no suggestions how the deep underlying issues might be resolved. This agreement is very similar to the one worked out with the UK recently which was in effect a framework for an eventual agreement with details to be finalised later.
Trump imposed a 145 per cent tariff on imports from China last month and as the US steps up its trade war, China also was hitting hard almost matching the US tariff hikes with 125 per cent tariffs on imports from the US as well as restricting exports of critical minerals. Beijing officials described the tariffs as "blackmail". China also added US entities to its export control list, restricting their ability to do business in China. In fact, China was the only country to retaliate in response to the US tariff measures.
The meeting marked the first talks between China and the US since Trump announced tariffs on all the US' trading partners on April 2, later suspending them for 90 days for every country except China. The agreement while temporary, marks the first concrete step to de-escalate tensions that have been rising since Trump took office on January 20 and almost immediately began imposing tariffs on China.
However, Trump gave a positive reading of the talks even before they had concluded, saying the two sides negotiated "a total reset …..in a friendly, but constructive manner". Speaking after the conclusion of the talks with the Chinese officials in Geneva, US Treasury Secretary Scott Bessent said on last Monday that the US would cut existing tariffs of 145 per cent to 30 per cent. Despite the significant reduction in tariffs on Chinese imports, when combined with the existing tariffs imposed during Trump's first term as President, the effective average tariff rate would exceed 40 per cent.
China on its part will lower its duties on US imports to 10 per cent from 125 percent. China has also agreed to some easing of restrictions on the export of critical minerals to the US, which were imposed in response to the Trump tariffs. Both reductions took effect from last Wednesday.
Both sides were also in agreement that neither side wanted to decouple and what had occurred was the equivalent of a trade embargo, and neither side wanted that. They announced that "the parties will establish a mechanism to continue discussion about economic and trade issues".
The trade war brought nearly US$600 billion in two-way trade to a standstill, disrupting supply chains, sparking fears of stagflation and rising unemployment in the US. The Chinese economy will also get negatively affected if the US tariff rate remains as it stands now. But China has diversified its export destinations since 2020 and much less exposed to the US market. At the start of the first Trump trade war in 2018, US-bound exports from China accounted for 19.8 per cent of total exports and by 2023 that figure had fallen to 12.8 per cent.
Very recently the IMF has provided its revised growth estimates for the US and China. The revised growth estimate for the US now stands at 1.7 per cent for 2025, down from 2.7 per cent estimated in January. For China also the revised growth estimate now is 4 per cent for this year instead of 4.6 per cent estimated early this year.
This agreement along with the 90-day pause to his "reciprocal tariffs" (RT) demonstrates Trump and his trade advisers' belated realisation that his liberation day tariff measures threaten significant damage to the US economy and his domestic authority. Also, his backpedal from a full-scale trade confrontation with China is an implicit recognition that his tariffs will hurt the US economy.
The trade truce has sent a clear message to the US that in a deeply interconnected global economy it cannot achieve its economic, political or strategic objectives against China by economic means as reflected in China holding its ground firm in the face of massive US economic onslaught and compelling the US to change its course.
It is important to note that the trade war truce came amid growing concerns over the bleak global economic outlook resulting from the trade war, which has disrupted supply chains, slowed down trade flows between the two countries. Chinese exports to the US plummeted by 21 per cent in April indicating that within weeks the tariffs have already resulted in significant reduction in the volume of goods arriving in the US from China. As a result, there were growing fears of supply shortages of consumer goods in shops in the US, and this has also added to the urgency for the meeting.
Markets have risen sharply on the news of the tariff pull-back. US stock futures and the US dollar surged, while gold tumbled, inflation eased. Financial markets in Asia responded positively; Hong Kong Hang Seng index rebounded, easing losses sparked by the RT hikes announced on April 2.
Markets in the US have responded positively to the event last weekend as if the trade war is over. But the fact of the matter is the estimated effective average tariff in the US now stands at 17.8 per cent in comparison to 2.4 per cent average tariff before Trump assumed office in January. This rate is the highest rate since 1934.
The Financial Times in an editorial described the tariff pause agreement as an "uneasy détente" without any guarantee that the three-month pause would lead to a "enduring case-fire" and there was no indication that the talks would help to bring down the US trade deficit with China.
Though rarely stated outright, Trump aims to break the dominance of China's export-led economic model. It is also a part of his strategic initiative to reshape global trading system to forestall China emerging as the dominant regional power in East Asia.
The Wall Street Journal, a mouthpiece of the US corporate establishment remains staunchly opposed to Trump tariffs. In an editorial it noted that Trump's approach had hurt his ability to rallying a united front against China because his tariffs targeted against allies had eroded trust in the US' economic and political reliability.
The US and China are also amid a battle for currency dominance, with the Chinese yuan or renminbi gaining considerable power over the last decade in global trade as countries seek less reliance on the US dollar as the US government ruthlessly weaponises its currency. China is also trying to woo other countries, presenting itself as a stable partner in contrast to a capricious US.
Also, trade decisions on this scale are not about trade alone. In his executive order, Trump declared that "large and persistent trade deficits constitute an unusual and extraordinary threat to the national security and the economy of the United States". The key underlying objective in the conflict is the suppression of the economic rise, hence also military capabilities of China. The US considers it as an existential issue if the US is to remain the global hegemon.
The close integration of the global economy over the last 30+ years makes it impossible for the US to achieve its objectives against the rise of China by economic means alone as that will cause damage to the US economy as well. The truce is viewed by some strategic analysts as a strategic retreat by the US rather than any strategic realignment.
The conflict predates Trump's appearance on the US political scene. The trade truce in no way, therefore, signals a policy shift in the drive towards achieving its long-term broader objectives against China which has a bipartisan support in the country. So, the pause, truce or détente whichever way one may like to designate the agreement reached between the US and China last Monday in Geneva is nowhere near resolving the existential conflict between them.
Muhammad Mahmood
Published :
May 18, 2025 00:16
Updated :
May 18, 2025 00:16
The US and China have brokered a temporary mutual reduction in tariffs for 90 days in a bid to deescalate a simmering trade war initiated by US president Donald Trump against China and other countries around the world. Trump's trade war has roiled financial markets and threatened global growth. During the pause, both parties agreed that talks on economic and trade issues would continue toward an agreement but there were no suggestions how the deep underlying issues might be resolved. This agreement is very similar to the one worked out with the UK recently which was in effect a framework for an eventual agreement with details to be finalised later.
Trump imposed a 145 per cent tariff on imports from China last month and as the US steps up its trade war, China also was hitting hard almost matching the US tariff hikes with 125 per cent tariffs on imports from the US as well as restricting exports of critical minerals. Beijing officials described the tariffs as "blackmail". China also added US entities to its export control list, restricting their ability to do business in China. In fact, China was the only country to retaliate in response to the US tariff measures.
The meeting marked the first talks between China and the US since Trump announced tariffs on all the US' trading partners on April 2, later suspending them for 90 days for every country except China. The agreement while temporary, marks the first concrete step to de-escalate tensions that have been rising since Trump took office on January 20 and almost immediately began imposing tariffs on China.
However, Trump gave a positive reading of the talks even before they had concluded, saying the two sides negotiated "a total reset …..in a friendly, but constructive manner". Speaking after the conclusion of the talks with the Chinese officials in Geneva, US Treasury Secretary Scott Bessent said on last Monday that the US would cut existing tariffs of 145 per cent to 30 per cent. Despite the significant reduction in tariffs on Chinese imports, when combined with the existing tariffs imposed during Trump's first term as President, the effective average tariff rate would exceed 40 per cent.
China on its part will lower its duties on US imports to 10 per cent from 125 percent. China has also agreed to some easing of restrictions on the export of critical minerals to the US, which were imposed in response to the Trump tariffs. Both reductions took effect from last Wednesday.
Both sides were also in agreement that neither side wanted to decouple and what had occurred was the equivalent of a trade embargo, and neither side wanted that. They announced that "the parties will establish a mechanism to continue discussion about economic and trade issues".
The trade war brought nearly US$600 billion in two-way trade to a standstill, disrupting supply chains, sparking fears of stagflation and rising unemployment in the US. The Chinese economy will also get negatively affected if the US tariff rate remains as it stands now. But China has diversified its export destinations since 2020 and much less exposed to the US market. At the start of the first Trump trade war in 2018, US-bound exports from China accounted for 19.8 per cent of total exports and by 2023 that figure had fallen to 12.8 per cent.
Very recently the IMF has provided its revised growth estimates for the US and China. The revised growth estimate for the US now stands at 1.7 per cent for 2025, down from 2.7 per cent estimated in January. For China also the revised growth estimate now is 4 per cent for this year instead of 4.6 per cent estimated early this year.
This agreement along with the 90-day pause to his "reciprocal tariffs" (RT) demonstrates Trump and his trade advisers' belated realisation that his liberation day tariff measures threaten significant damage to the US economy and his domestic authority. Also, his backpedal from a full-scale trade confrontation with China is an implicit recognition that his tariffs will hurt the US economy.
The trade truce has sent a clear message to the US that in a deeply interconnected global economy it cannot achieve its economic, political or strategic objectives against China by economic means as reflected in China holding its ground firm in the face of massive US economic onslaught and compelling the US to change its course.
It is important to note that the trade war truce came amid growing concerns over the bleak global economic outlook resulting from the trade war, which has disrupted supply chains, slowed down trade flows between the two countries. Chinese exports to the US plummeted by 21 per cent in April indicating that within weeks the tariffs have already resulted in significant reduction in the volume of goods arriving in the US from China. As a result, there were growing fears of supply shortages of consumer goods in shops in the US, and this has also added to the urgency for the meeting.
Markets have risen sharply on the news of the tariff pull-back. US stock futures and the US dollar surged, while gold tumbled, inflation eased. Financial markets in Asia responded positively; Hong Kong Hang Seng index rebounded, easing losses sparked by the RT hikes announced on April 2.
Markets in the US have responded positively to the event last weekend as if the trade war is over. But the fact of the matter is the estimated effective average tariff in the US now stands at 17.8 per cent in comparison to 2.4 per cent average tariff before Trump assumed office in January. This rate is the highest rate since 1934.
The Financial Times in an editorial described the tariff pause agreement as an "uneasy détente" without any guarantee that the three-month pause would lead to a "enduring case-fire" and there was no indication that the talks would help to bring down the US trade deficit with China.
Though rarely stated outright, Trump aims to break the dominance of China's export-led economic model. It is also a part of his strategic initiative to reshape global trading system to forestall China emerging as the dominant regional power in East Asia.
The Wall Street Journal, a mouthpiece of the US corporate establishment remains staunchly opposed to Trump tariffs. In an editorial it noted that Trump's approach had hurt his ability to rallying a united front against China because his tariffs targeted against allies had eroded trust in the US' economic and political reliability.
The US and China are also amid a battle for currency dominance, with the Chinese yuan or renminbi gaining considerable power over the last decade in global trade as countries seek less reliance on the US dollar as the US government ruthlessly weaponises its currency. China is also trying to woo other countries, presenting itself as a stable partner in contrast to a capricious US.
Also, trade decisions on this scale are not about trade alone. In his executive order, Trump declared that "large and persistent trade deficits constitute an unusual and extraordinary threat to the national security and the economy of the United States". The key underlying objective in the conflict is the suppression of the economic rise, hence also military capabilities of China. The US considers it as an existential issue if the US is to remain the global hegemon.
The close integration of the global economy over the last 30+ years makes it impossible for the US to achieve its objectives against the rise of China by economic means alone as that will cause damage to the US economy as well. The truce is viewed by some strategic analysts as a strategic retreat by the US rather than any strategic realignment.
The conflict predates Trump's appearance on the US political scene. The trade truce in no way, therefore, signals a policy shift in the drive towards achieving its long-term broader objectives against China which has a bipartisan support in the country. So, the pause, truce or détente whichever way one may like to designate the agreement reached between the US and China last Monday in Geneva is nowhere near resolving the existential conflict between them.
Saif
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The post-truce state of US-China trade looks dire
Markets appear to be writing off the latest Sino-American trade conflict as quickly as they priced it in. China’s benchmark CSI 300 index is up 1.4 percent this year, marking a full recovery from its sharp drop in early April after President Donald Trump announced a 34 percent reciprocal tariff...
The post-truce state of US-China trade looks dire
People browse for iPhones at an Apple store in the Huangpu district in Shanghai on April 11, 2025. Photo: AFP
Markets appear to be writing off the latest Sino-American trade conflict as quickly as they priced it in. China's benchmark CSI 300 index is up 1.4 percent this year, marking a full recovery from its sharp drop in early April after President Donald Trump announced a 34 percent reciprocal tariff on Chinese goods, which swiftly spiralled into triple-digit retaliatory levies. The latter has been cancelled and the former suspended for 90 days, leaving the official reciprocal charge at 10 percent, level with other countries.
In reality, it's much higher. Beijing's burden was already heavier, having started out Trump's second term with effective tariffs of roughly 11 percent incurred during his previous trade war. Almost immediately, the White House then slapped another 20 percent on Chinese goods, citing concerns over fentanyl. That, stacked atop the other blanket levies, brings the country's total to more than 40 percent.
The administration did carve out some exemptions for smartphones, computers and other electronics. Factor in both those but also new global tariffs on products like steel, and the effective rate is almost 32 percent, per Fitch. That's far higher than the global average of about 13 percent, the rating agency estimates.
Optimists may take heart from the speed with which Beijing and Washington scrapped the retaliatory levies. So far, though, aside from a modest and preliminary pact with the UK, there is little indication that US. discussions with its other trading partners are yielding much real progress ahead of their 90-day deadline in early July.
Worse, the electronics carve-out on April 13 was followed the next day by a national security probe into semiconductor imports. If that ends up shrinking the loophole and pushing the effective rate on China higher, it will complicate already fraught trade talks.
Those with skin in the game don't expect a quick deal restoring the status quo ante. Apple intends to shift production of most US-bound iPhones to India, Reuters reported last month. Last week, Allan Wong, CEO of Hong Kong's Vtech — one of the world's largest toymakers and a supplier for Walmart — told the Financial Times that he planned to shift all production for the US market out of China by the end of next year.
Other manufacturers previously battered by protracted uncertainty during Trump's 2018-2020 trade war are planning similar moves, Nikkei and others have reported. Traders may be betting on a quick resolution, but that's at odds with the dire situation on the ground.
The effective US tariff rate on imports from China currently stands at 31.8 percent, per a report from ratings agency Fitch on May 13, the highest of any trading partner.
That's after President Donald Trump's administration on May 12 suspended for 90 days the 34 percent US reciprocal tariff on goods from the People's Republic and cancelled triple-digit retaliatory levies imposed last month.
The White House exempted smartphones, computers and some other electronics from reciprocal tariffs on April 13, but opened a national security probe into semiconductor imports the following day.
Allan Wong, CEO of Hong Kong-based VTech, one of the world's largest toymakers and supplier for Walmart, told the Financial Times on May 14 that despite the trade truce his company planned to shift all production for the American market out of China by the end of 2026.
People browse for iPhones at an Apple store in the Huangpu district in Shanghai on April 11, 2025. Photo: AFP
Markets appear to be writing off the latest Sino-American trade conflict as quickly as they priced it in. China's benchmark CSI 300 index is up 1.4 percent this year, marking a full recovery from its sharp drop in early April after President Donald Trump announced a 34 percent reciprocal tariff on Chinese goods, which swiftly spiralled into triple-digit retaliatory levies. The latter has been cancelled and the former suspended for 90 days, leaving the official reciprocal charge at 10 percent, level with other countries.
In reality, it's much higher. Beijing's burden was already heavier, having started out Trump's second term with effective tariffs of roughly 11 percent incurred during his previous trade war. Almost immediately, the White House then slapped another 20 percent on Chinese goods, citing concerns over fentanyl. That, stacked atop the other blanket levies, brings the country's total to more than 40 percent.
The administration did carve out some exemptions for smartphones, computers and other electronics. Factor in both those but also new global tariffs on products like steel, and the effective rate is almost 32 percent, per Fitch. That's far higher than the global average of about 13 percent, the rating agency estimates.
Optimists may take heart from the speed with which Beijing and Washington scrapped the retaliatory levies. So far, though, aside from a modest and preliminary pact with the UK, there is little indication that US. discussions with its other trading partners are yielding much real progress ahead of their 90-day deadline in early July.
Worse, the electronics carve-out on April 13 was followed the next day by a national security probe into semiconductor imports. If that ends up shrinking the loophole and pushing the effective rate on China higher, it will complicate already fraught trade talks.
Those with skin in the game don't expect a quick deal restoring the status quo ante. Apple intends to shift production of most US-bound iPhones to India, Reuters reported last month. Last week, Allan Wong, CEO of Hong Kong's Vtech — one of the world's largest toymakers and a supplier for Walmart — told the Financial Times that he planned to shift all production for the US market out of China by the end of next year.
Other manufacturers previously battered by protracted uncertainty during Trump's 2018-2020 trade war are planning similar moves, Nikkei and others have reported. Traders may be betting on a quick resolution, but that's at odds with the dire situation on the ground.
The effective US tariff rate on imports from China currently stands at 31.8 percent, per a report from ratings agency Fitch on May 13, the highest of any trading partner.
That's after President Donald Trump's administration on May 12 suspended for 90 days the 34 percent US reciprocal tariff on goods from the People's Republic and cancelled triple-digit retaliatory levies imposed last month.
The White House exempted smartphones, computers and some other electronics from reciprocal tariffs on April 13, but opened a national security probe into semiconductor imports the following day.
Allan Wong, CEO of Hong Kong-based VTech, one of the world's largest toymakers and supplier for Walmart, told the Financial Times on May 14 that despite the trade truce his company planned to shift all production for the American market out of China by the end of 2026.
Saif
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US vows to ‘aggressively’ oust Chinese students
Young Chinese people have long been crucial to US universities, which rely on international students paying full tuition.
en.prothomalo.com
US vows to ‘aggressively’ oust Chinese students
AFP Washington
Published: 29 May 2025, 12: 50
US Secretary of State Marco Rubio.File photo: Reuters
President Donald Trump’s administration on Wednesday vowed to “aggressively” revoke visas of Chinese students, one of the largest sources of revenue for American universities, in his latest broadside against US higher education.
The announcement by Secretary of State Marco Rubio marked a show of defiance after China criticised his decision a day earlier to suspend visa appointments for students worldwide at least temporarily.
The Trump administration has already sought to end permission for all international students at Harvard University, which has rebuffed pressure from the president related to student protests.
The United States will “aggressively revoke visas for Chinese students, including those with connections to the Chinese Communist Party or studying in critical fields,” Rubio said in a statement.
“We will also revise visa criteria to enhance scrutiny of all future visa applications from the People’s Republic of China and Hong Kong,” he said.
Young Chinese people have long been crucial to US universities, which rely on international students paying full tuition.
China sent 277,398 students in the 2023-24 academic year, although India for the first time in years surpassed it, according to a State Department-backed report of the Institute of International Education.
Trump in his previous term also took aim at Chinese students but focused attention on those in sensitive fields or with explicit links with the military.
It was unclear to what extent Rubio’s statement marked an escalation.
Global uncertainty
China’s foreign ministry spokeswoman Mao Ning on Wednesday said Beijing urged Washington to “safeguard the legitimate rights and interests of international students, including those from China.”
Rubio has already trumpeted the revocation of thousands of visas, largely to international students who were involved in activism critical of Israel.
A cable signed by Rubio on Tuesday ordered US embassies and consulates not to allow “any additional student or exchange visa... appointment capacity until further guidance is issued” on ramping up screening of applicants’ social media accounts.
The measures also threaten to pressure students from countries friendly to the United States.
In Taiwan, a PhD student set to study in California complained of “feeling uncertain” by the visa pause.
“I understand the process may be delayed but there is still some time before the semester begins in mid-August,” said the 27-year-old student who did not want to be identified.
“All I can do now is wait and hope for the best.”
Protests at Harvard
Trump is furious at Harvard for rejecting his administration’s push for oversight on admissions and hiring, amid the president’s claims the school is a hotbed of anti-Semitism and “woke” liberal ideology.
A judge paused the order to bar foreign students pending a hearing scheduled for Thursday, the same day as the university’s graduation ceremony for which thousands of students and their families had gathered in Cambridge, Massachusetts.
The White House has also stripped Harvard, as well as other US universities widely considered among the world’s most elite, of federal funding for research.
“The president is more interested in giving that taxpayer money to trade schools and programs and state schools where they are promoting American values, but most importantly, educating the next generation based on skills that we need in our economy and our society,” White House Press Secretary Karoline Leavitt said on Fox News.
Some Harvard students were worried that the Trump administration’s policies would make US universities less attractive to international students.
“I don’t know if I’d pursue a PhD here. Six years is a long time,” said Jack, a history of medicine student from Britain who is graduating this week and gave only a first name.
Harvard has filed extensive legal challenges against Trump’s measures.
AFP Washington
Published: 29 May 2025, 12: 50
US Secretary of State Marco Rubio.File photo: Reuters
President Donald Trump’s administration on Wednesday vowed to “aggressively” revoke visas of Chinese students, one of the largest sources of revenue for American universities, in his latest broadside against US higher education.
The announcement by Secretary of State Marco Rubio marked a show of defiance after China criticised his decision a day earlier to suspend visa appointments for students worldwide at least temporarily.
The Trump administration has already sought to end permission for all international students at Harvard University, which has rebuffed pressure from the president related to student protests.
The United States will “aggressively revoke visas for Chinese students, including those with connections to the Chinese Communist Party or studying in critical fields,” Rubio said in a statement.
“We will also revise visa criteria to enhance scrutiny of all future visa applications from the People’s Republic of China and Hong Kong,” he said.
Young Chinese people have long been crucial to US universities, which rely on international students paying full tuition.
China sent 277,398 students in the 2023-24 academic year, although India for the first time in years surpassed it, according to a State Department-backed report of the Institute of International Education.
Trump in his previous term also took aim at Chinese students but focused attention on those in sensitive fields or with explicit links with the military.
It was unclear to what extent Rubio’s statement marked an escalation.
Global uncertainty
China’s foreign ministry spokeswoman Mao Ning on Wednesday said Beijing urged Washington to “safeguard the legitimate rights and interests of international students, including those from China.”
Rubio has already trumpeted the revocation of thousands of visas, largely to international students who were involved in activism critical of Israel.
A cable signed by Rubio on Tuesday ordered US embassies and consulates not to allow “any additional student or exchange visa... appointment capacity until further guidance is issued” on ramping up screening of applicants’ social media accounts.
The measures also threaten to pressure students from countries friendly to the United States.
In Taiwan, a PhD student set to study in California complained of “feeling uncertain” by the visa pause.
“I understand the process may be delayed but there is still some time before the semester begins in mid-August,” said the 27-year-old student who did not want to be identified.
“All I can do now is wait and hope for the best.”
Protests at Harvard
Trump is furious at Harvard for rejecting his administration’s push for oversight on admissions and hiring, amid the president’s claims the school is a hotbed of anti-Semitism and “woke” liberal ideology.
A judge paused the order to bar foreign students pending a hearing scheduled for Thursday, the same day as the university’s graduation ceremony for which thousands of students and their families had gathered in Cambridge, Massachusetts.
The White House has also stripped Harvard, as well as other US universities widely considered among the world’s most elite, of federal funding for research.
“The president is more interested in giving that taxpayer money to trade schools and programs and state schools where they are promoting American values, but most importantly, educating the next generation based on skills that we need in our economy and our society,” White House Press Secretary Karoline Leavitt said on Fox News.
Some Harvard students were worried that the Trump administration’s policies would make US universities less attractive to international students.
“I don’t know if I’d pursue a PhD here. Six years is a long time,” said Jack, a history of medicine student from Britain who is graduating this week and gave only a first name.
Harvard has filed extensive legal challenges against Trump’s measures.
Saif
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Pentagon chief warns China 'preparing' to use military force in Asia
US Secretary of Defense Pete Hegseth warned Saturday that China was "credibly preparing" to use military force to upend the balance of power in Asia, vowing the United States was "here to stay" in the Indo-Pacific region. The Pentagon chief made the remarks at an annual security forum in...
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Pentagon chief warns China 'preparing' to use military force in Asia
AFP Singapore
Published: 31 May 2025, 22: 28
US Secretary of Defense Pete Hegseth (L) is greeted by his Singaporean counterpart Chan Chun Sing (R) at a ministerial roundtable during the Shangri-La Dialogue Summit in Singapore on 31 May 2025. AFP
US Secretary of Defense Pete Hegseth warned Saturday that China was "credibly preparing" to use military force to upend the balance of power in Asia, vowing the United States was "here to stay" in the Indo-Pacific region.
The Pentagon chief made the remarks at an annual security forum in Singapore as the administration of US President Donald Trump spars with Beijing on trade, technology, and influence over strategic corners of the globe.
Since taking office in January, Trump has launched a trade war with China, sought to curb its access to key AI technologies and deepened security ties with allies such as the Philippines, which is engaged in escalating territorial disputes with Beijing.
"The threat China poses is real and it could be imminent," Hegseth said at the Shangri-La Dialogue attended by defence officials from around the world.
Beijing is "credibly preparing to potentially use military force to alter the balance of power in the Indo-Pacific", he added.
Hegseth warned the Chinese military was building the capabilities to invade Taiwan and "rehearsing for the real deal".
Beijing has ramped up military pressure on Taiwan and held multiple large-scale exercises around the island, often described as preparations for a blockade or invasion.
The United States was "reorienting toward deterring aggression by communist China", Hegseth said, calling on US allies and partners in Asia to swiftly upgrade their defences in the face of mounting threats.
'Wake-up call'
Hegseth described China's conduct as a "wake-up call", accusing Beijing of endangering lives with cyber attacks, harassing its neighbours, and "illegally seizing and militarising lands" in the South China Sea.
Beijing claims almost the entire disputed waterway, through which more than 60 percent of global maritime trade passes, despite an international ruling that its assertion has no merit.
It has clashed repeatedly with the Philippines in the strategic waters in recent months, with the flashpoint set to dominate discussions at the Singapore defence forum, according to US officials.
As Hegseth spoke in Singapore, China's military announced that its navy and air force were carrying out routine "combat readiness patrols" around the Scarborough Shoal, a chain of reefs and rocks Beijing disputes with the Philippines.
"China's assertiveness in the South China Sea has only increased in recent years," Casey Mace, charge d'affaires at the US embassy in Singapore, told journalists ahead of the meeting.
"I think that this type of forum is exactly the type of forum where we need to have an exchange on that."
Beijing has not sent any top defence ministry officials to the summit, dispatching a delegation from the People's Liberation Army National Defence University instead.
Hegseth's hard-hitting address drew a critical reaction from Chinese analysts at the conference.
Da Wei, director of the Center for International Security and Strategy at Tsinghua University told reporters the speech was "very unfriendly" and "very confrontational", accusing Washington of double standards in demanding Beijing respect its neighbours while bullying its own -- including Canada and Greenland.
Former Senior Colonel Zhou Bo, from the Centre for International Security and Strategy at Tsinghua University told AFP that training drills did not mean China would invade Taiwan, saying the government wanted "peaceful reunification".
Hegseth's comments came after Trump stoked new trade tensions with China, arguing that Beijing had "violated" a deal to de-escalate tariffs as the two sides appeared deadlocked in negotiations.
The world's two biggest economies had agreed to temporarily lower eye-watering tariffs they had imposed on each other, pausing them for 90 days.
'Priority theatre'
Reassuring US allies on Saturday, Hegseth said the Indo-Pacific was "America's priority theatre", pledging to ensure "China cannot dominate us -- or our allies and partners".
He said the United States had stepped up cooperation with allies including the Philippines and Japan, and reiterated Trump's vow that "China will not invade (Taiwan) on his watch".
But he called on US partners in the region to ramp up spending on their militaries and "quickly upgrade their own defences".
"Asian allies should look to countries in Europe for a newfound example," Hegseth said, citing pledges by NATO members including Germany to move toward Trump's spending target of five percent of GDP.
"Deterrence doesn't come on the cheap."
EU foreign policy chief Kaja Kallas, also in Singapore, said the Trump adminstration's "tough love" had helped push the continent to beef up its defences.
"It's love nonetheless, so it's better than no love," Kallas quipped when asked about Hegseth's speech.
AFP Singapore
Published: 31 May 2025, 22: 28
US Secretary of Defense Pete Hegseth (L) is greeted by his Singaporean counterpart Chan Chun Sing (R) at a ministerial roundtable during the Shangri-La Dialogue Summit in Singapore on 31 May 2025. AFP
US Secretary of Defense Pete Hegseth warned Saturday that China was "credibly preparing" to use military force to upend the balance of power in Asia, vowing the United States was "here to stay" in the Indo-Pacific region.
The Pentagon chief made the remarks at an annual security forum in Singapore as the administration of US President Donald Trump spars with Beijing on trade, technology, and influence over strategic corners of the globe.
Since taking office in January, Trump has launched a trade war with China, sought to curb its access to key AI technologies and deepened security ties with allies such as the Philippines, which is engaged in escalating territorial disputes with Beijing.
"The threat China poses is real and it could be imminent," Hegseth said at the Shangri-La Dialogue attended by defence officials from around the world.
Beijing is "credibly preparing to potentially use military force to alter the balance of power in the Indo-Pacific", he added.
Hegseth warned the Chinese military was building the capabilities to invade Taiwan and "rehearsing for the real deal".
Beijing has ramped up military pressure on Taiwan and held multiple large-scale exercises around the island, often described as preparations for a blockade or invasion.
The United States was "reorienting toward deterring aggression by communist China", Hegseth said, calling on US allies and partners in Asia to swiftly upgrade their defences in the face of mounting threats.
'Wake-up call'
Hegseth described China's conduct as a "wake-up call", accusing Beijing of endangering lives with cyber attacks, harassing its neighbours, and "illegally seizing and militarising lands" in the South China Sea.
Beijing claims almost the entire disputed waterway, through which more than 60 percent of global maritime trade passes, despite an international ruling that its assertion has no merit.
It has clashed repeatedly with the Philippines in the strategic waters in recent months, with the flashpoint set to dominate discussions at the Singapore defence forum, according to US officials.
As Hegseth spoke in Singapore, China's military announced that its navy and air force were carrying out routine "combat readiness patrols" around the Scarborough Shoal, a chain of reefs and rocks Beijing disputes with the Philippines.
"China's assertiveness in the South China Sea has only increased in recent years," Casey Mace, charge d'affaires at the US embassy in Singapore, told journalists ahead of the meeting.
"I think that this type of forum is exactly the type of forum where we need to have an exchange on that."
Beijing has not sent any top defence ministry officials to the summit, dispatching a delegation from the People's Liberation Army National Defence University instead.
Hegseth's hard-hitting address drew a critical reaction from Chinese analysts at the conference.
Da Wei, director of the Center for International Security and Strategy at Tsinghua University told reporters the speech was "very unfriendly" and "very confrontational", accusing Washington of double standards in demanding Beijing respect its neighbours while bullying its own -- including Canada and Greenland.
Former Senior Colonel Zhou Bo, from the Centre for International Security and Strategy at Tsinghua University told AFP that training drills did not mean China would invade Taiwan, saying the government wanted "peaceful reunification".
Hegseth's comments came after Trump stoked new trade tensions with China, arguing that Beijing had "violated" a deal to de-escalate tariffs as the two sides appeared deadlocked in negotiations.
The world's two biggest economies had agreed to temporarily lower eye-watering tariffs they had imposed on each other, pausing them for 90 days.
'Priority theatre'
Reassuring US allies on Saturday, Hegseth said the Indo-Pacific was "America's priority theatre", pledging to ensure "China cannot dominate us -- or our allies and partners".
He said the United States had stepped up cooperation with allies including the Philippines and Japan, and reiterated Trump's vow that "China will not invade (Taiwan) on his watch".
But he called on US partners in the region to ramp up spending on their militaries and "quickly upgrade their own defences".
"Asian allies should look to countries in Europe for a newfound example," Hegseth said, citing pledges by NATO members including Germany to move toward Trump's spending target of five percent of GDP.
"Deterrence doesn't come on the cheap."
EU foreign policy chief Kaja Kallas, also in Singapore, said the Trump adminstration's "tough love" had helped push the continent to beef up its defences.
"It's love nonetheless, so it's better than no love," Kallas quipped when asked about Hegseth's speech.
Saif
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Trump, Xi likely to speak soon on minerals trade dispute, aides say
US President Donald Trump and Chinese President Xi Jinping will speak soon to iron out trade issues including a dispute over critical minerals, Treasury Secretary Scott Bessent said on Sunday. Trump on Friday accused China of violating an agreement with the US to mutually roll back tariffs and tra
Trump, Xi likely to speak soon on minerals trade dispute, aides say
REUTERS
Published :
Jun 01, 2025 21:39
Updated :
Jun 01, 2025 21:39
US President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. Photo : REUTERS/Kevin Lamarque/Files
US President Donald Trump and Chinese President Xi Jinping will speak soon to iron out trade issues including a dispute over critical minerals, Treasury Secretary Scott Bessent said on Sunday.
Trump on Friday accused China of violating an agreement with the US to mutually roll back tariffs and trade restrictions for critical minerals.
"What China is doing is they are holding back products that are essential for the industrial supply chains of India, of Europe. And that is not what a reliable partner does," Bessent said in an interview with CBS' "Face the Nation."
"I am confident that when President Trump and Party Chairman Xi have a call, that this will be ironed out. But the fact that they are withholding some of the products that they agreed to release during our agreement - maybe it's a glitch in the Chinese system, maybe it's intentional. We'll see after the President speaks with the party chairman."
Trump said on Friday he was sure that he would speak to Xi. China said in April that the two leaders had not had a conversation recently.
Asked if a talk with Xi was on Trump's schedule, Bessent said, "I believe we'll see something very soon."
White House economic adviser Kevin Hassett said no specific date for the conversation has been set, but there have been discussions that the leaders will talk about last month's Geneva agreement on some tariff disputes.
"President Trump, we expect, is going to have a wonderful conversation about the trade negotiations this week with President Xi. That's our expectation," Hassett said.
REUTERS
Published :
Jun 01, 2025 21:39
Updated :
Jun 01, 2025 21:39
US President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. Photo : REUTERS/Kevin Lamarque/Files
US President Donald Trump and Chinese President Xi Jinping will speak soon to iron out trade issues including a dispute over critical minerals, Treasury Secretary Scott Bessent said on Sunday.
Trump on Friday accused China of violating an agreement with the US to mutually roll back tariffs and trade restrictions for critical minerals.
"What China is doing is they are holding back products that are essential for the industrial supply chains of India, of Europe. And that is not what a reliable partner does," Bessent said in an interview with CBS' "Face the Nation."
"I am confident that when President Trump and Party Chairman Xi have a call, that this will be ironed out. But the fact that they are withholding some of the products that they agreed to release during our agreement - maybe it's a glitch in the Chinese system, maybe it's intentional. We'll see after the President speaks with the party chairman."
Trump said on Friday he was sure that he would speak to Xi. China said in April that the two leaders had not had a conversation recently.
Asked if a talk with Xi was on Trump's schedule, Bessent said, "I believe we'll see something very soon."
White House economic adviser Kevin Hassett said no specific date for the conversation has been set, but there have been discussions that the leaders will talk about last month's Geneva agreement on some tariff disputes.
"President Trump, we expect, is going to have a wonderful conversation about the trade negotiations this week with President Xi. That's our expectation," Hassett said.
Saif
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China accuses US's Hegseth of 'vilifying' remarks at security forum
China has protested to the United States against "vilifying" remarks made by Defense Secretary Pete Hegseth, the foreign ministry said on Sunday, while accusing it of deliberately ignoring calls for peace from regional nations. China has objected to Hegseth calling it a threat in the Indo-Pacific,
China accuses US's Hegseth of 'vilifying' remarks at security forum
REUTERS
Published :
Jun 01, 2025 18:27
Updated :
Jun 01, 2025 18:27
US Defense Secretary Pete Hegseth speaks at the IISS Shangri-La Dialogue security summit in Singapore, May 31, 2025. Photo : REUTERS/Edgar Su
China has protested to the United States against "vilifying" remarks made by Defense Secretary Pete Hegseth, the foreign ministry said on Sunday, while accusing it of deliberately ignoring calls for peace from regional nations.
China has objected to Hegseth calling it a threat in the Indo-Pacific, the ministry added, describing his comments at the Shangri-La Dialogue in Singapore on Saturday as "deplorable".
"Hegseth deliberately ignored the call for peace and development by countries in the region and instead touted the Cold War mentality for bloc confrontation, vilified China with defamatory allegations, and falsely called China a 'threat'," the ministry said on its website.
"The United States has deployed offensive weaponry in the South China Sea and kept stoking flames and creating tensions in the Asia-Pacific, which are turning the region into a powder keg," it added in the statement.
China's defence ministry also weighed in, saying the U.S. is "accustomed to using" the forum to "stoke disputes, sow discord and seek selfish interests".
"China's armed forces will work with other countries in the region to oppose hegemonism harming the Asia-Pacific region," ministry spokesperson Zhang Xiaogang said in a statement posted on the ministry's WeChat account.
Hegseth had urged allies in the Indo-Pacific region, including key security partner Australia, to spend more on defence after warning of the "real and potentially imminent" threat from China.
Asked about the call to boost defence spending, Australian Prime Minister Anthony Albanese said his government had pledged an extra A$10 billion ($6 billion) to defence.
"What we'll do is we'll determine our defence policy," he told reporters on Sunday, a transcript of his remarks showed.
As part of Washington's longstanding defence ties with the Philippines, the U.S. military this year deployed Typhon launchers that can fire missiles to hit targets in both China and Russia from the island of Luzon.
China and the Philippines contest sovereignty over some islands and atolls in the South China Sea, with growing maritime run-ins between their coast guards as both vie to patrol the waters.
China's delegation at the forum said "external intervention" was the biggest risk for stability in the South China Sea, saying the country had shown "goodwill and restraint" through talks on the issue.
"Some foreign powers have sent warplanes and warships to the South China Sea for so-called 'freedom of navigation,'" the state-backed Global Times newspaper cited Senior Colonel Zhang Chi from the PLA National Defence University as saying.
Such actions infringed China's territorial sovereignty and maritime rights and interests, he added.
The United States, Australia, Japan and the Philippines have conducted joint maritime operations in the busy waterway.
China claims nearly all the South China Sea, including parts of the exclusive economic zones of Brunei, Indonesia, Malaysia, the Philippines and Vietnam.
In 2016, an international arbitration tribunal ruled Beijing's expansive claim had no basis in international law, however.
China's foreign ministry also told the United States not to "play with fire" on the question of Taiwan.
Any attempt by China to conquer Taiwan "would result in devastating consequences", Hegseth said in his speech to Asia's premier forum for defence leaders, military officials and diplomats.
China has vowed to "reunify" with the separately governed island, by force if necessary. Taiwan's government rejects Beijing's sovereignty claims, saying only the island's people can decide their future.
REUTERS
Published :
Jun 01, 2025 18:27
Updated :
Jun 01, 2025 18:27
US Defense Secretary Pete Hegseth speaks at the IISS Shangri-La Dialogue security summit in Singapore, May 31, 2025. Photo : REUTERS/Edgar Su
China has protested to the United States against "vilifying" remarks made by Defense Secretary Pete Hegseth, the foreign ministry said on Sunday, while accusing it of deliberately ignoring calls for peace from regional nations.
China has objected to Hegseth calling it a threat in the Indo-Pacific, the ministry added, describing his comments at the Shangri-La Dialogue in Singapore on Saturday as "deplorable".
"Hegseth deliberately ignored the call for peace and development by countries in the region and instead touted the Cold War mentality for bloc confrontation, vilified China with defamatory allegations, and falsely called China a 'threat'," the ministry said on its website.
"The United States has deployed offensive weaponry in the South China Sea and kept stoking flames and creating tensions in the Asia-Pacific, which are turning the region into a powder keg," it added in the statement.
China's defence ministry also weighed in, saying the U.S. is "accustomed to using" the forum to "stoke disputes, sow discord and seek selfish interests".
"China's armed forces will work with other countries in the region to oppose hegemonism harming the Asia-Pacific region," ministry spokesperson Zhang Xiaogang said in a statement posted on the ministry's WeChat account.
Hegseth had urged allies in the Indo-Pacific region, including key security partner Australia, to spend more on defence after warning of the "real and potentially imminent" threat from China.
Asked about the call to boost defence spending, Australian Prime Minister Anthony Albanese said his government had pledged an extra A$10 billion ($6 billion) to defence.
"What we'll do is we'll determine our defence policy," he told reporters on Sunday, a transcript of his remarks showed.
As part of Washington's longstanding defence ties with the Philippines, the U.S. military this year deployed Typhon launchers that can fire missiles to hit targets in both China and Russia from the island of Luzon.
China and the Philippines contest sovereignty over some islands and atolls in the South China Sea, with growing maritime run-ins between their coast guards as both vie to patrol the waters.
China's delegation at the forum said "external intervention" was the biggest risk for stability in the South China Sea, saying the country had shown "goodwill and restraint" through talks on the issue.
"Some foreign powers have sent warplanes and warships to the South China Sea for so-called 'freedom of navigation,'" the state-backed Global Times newspaper cited Senior Colonel Zhang Chi from the PLA National Defence University as saying.
Such actions infringed China's territorial sovereignty and maritime rights and interests, he added.
The United States, Australia, Japan and the Philippines have conducted joint maritime operations in the busy waterway.
China claims nearly all the South China Sea, including parts of the exclusive economic zones of Brunei, Indonesia, Malaysia, the Philippines and Vietnam.
In 2016, an international arbitration tribunal ruled Beijing's expansive claim had no basis in international law, however.
China's foreign ministry also told the United States not to "play with fire" on the question of Taiwan.
Any attempt by China to conquer Taiwan "would result in devastating consequences", Hegseth said in his speech to Asia's premier forum for defence leaders, military officials and diplomats.
China has vowed to "reunify" with the separately governed island, by force if necessary. Taiwan's government rejects Beijing's sovereignty claims, saying only the island's people can decide their future.
Saif
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Trump, Xi will likely speak this week
President Donald Trump and Chinese leader Xi Jinping will likely speak this week, White House press secretary Karoline Leavitt said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions.
Trump, Xi will likely speak this week
Says White House amid tariff row
US President Donald Trump and Chinese President Xi Jinping in April 2017. AFP file photo
President Donald Trump and Chinese leader Xi Jinping will likely speak this week, White House press secretary Karoline Leavitt said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions.
Leavitt is the third top Trump aide to forecast an imminent call between the two leaders to iron out differences on last month's tariff agreement in Geneva, among larger trade issues. It was not immediately clear when the two leaders will speak.
US Treasury Secretary Scott Bessent told CBS' "Face the Nation" on Sunday that Trump and Xi would speak "very soon" to iron out trade issues including a dispute over critical minerals and China's restrictions on exports of certain minerals.
Says White House amid tariff row
US President Donald Trump and Chinese President Xi Jinping in April 2017. AFP file photo
President Donald Trump and Chinese leader Xi Jinping will likely speak this week, White House press secretary Karoline Leavitt said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions.
Leavitt is the third top Trump aide to forecast an imminent call between the two leaders to iron out differences on last month's tariff agreement in Geneva, among larger trade issues. It was not immediately clear when the two leaders will speak.
US Treasury Secretary Scott Bessent told CBS' "Face the Nation" on Sunday that Trump and Xi would speak "very soon" to iron out trade issues including a dispute over critical minerals and China's restrictions on exports of certain minerals.
Saif
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Beijing slams Rubio 'attack' on China after Tiananmen Square remarks
Beijing hit back Wednesday at US Secretary of State Marco Rubio for saying the world will "never forget" the deadly Tiananmen Square crackdown in 1989, describing his remarks as an "attack" on China.
en.prothomalo.com
Beijing slams Rubio 'attack' on China after Tiananmen Square remarks
AFP Beijing
Published: 04 Jun 2025, 23: 07
China, US flag
Beijing hit back Wednesday at US Secretary of State Marco Rubio for saying the world will "never forget" the deadly Tiananmen Square crackdown in 1989, describing his remarks as an "attack" on China.
Troops and tanks forcibly cleared peaceful protesters from Beijing's Tiananmen Square on 4 June 1989, after weeks-long demonstrations demanding greater political freedoms.
The exact toll is unknown but hundreds died, with some estimates exceeding 1,000.
China's communist rulers have since sought to erase any public mention of the crackdown, with censors scrubbing all online references.
Police were seen by AFP on Wednesday at the entrance to Wan'an Cemetery, a site in west Beijing where victims of the crackdown are known to be buried.
Officers were also posted at several intersections leading into Tiananmen Square.
On Wednesday evening, a line of buses and a cherry picker partially blocked screens at the German and Canadian embassies showing images of candles, a symbol commonly used to pay tribute to Tiananmen victims.
'Never forget'
Rubio said in a statement the "world will never forget" what happened on June 4, even as Beijing "actively tries to censor the facts".
"Today we commemorate the bravery of the Chinese people who were killed as they tried to exercise their fundamental freedoms, as well as those who continue to suffer persecution as they seek accountability and justice for the events of June 4, 1989," Rubio said.
Chinese foreign ministry spokesman Lin Jian hit back during a briefing in the capital, saying Beijing had "lodged a solemn protest" over the American politician's comments which "maliciously distort historical facts ... and seriously interfere in China's internal affairs".
Taiwanese President Lai Ching-te echoed Rubio's remarks, vowing to preserve the memory of victims of the bloody crackdown.
"Authoritarian governments often choose to be silent and forget history; democratic societies choose to preserve the truth and refuse to forget those who have contributed to the ideal of human rights and their dreams," Lai said on Facebook.
China claims Taiwan is part of its territory and has threatened to seize the democratically-run island by force.
'Reaffirm our commitment'
In Hong Kong, jailed activist Chow Hang-tung began a 36-hour hunger strike on Wednesday, a dogged attempt to individually commemorate the anniversary in a city that once hosted huge public remembrances.
The former lawyer used to help organise an annual vigil that drew tens of thousands to the city's Victoria Park.
Hong Kong had been the only place under Chinese rule where commemoration of the crackdown was tolerated.
Slogans at the candlelight vigil sometimes called for democracy in China and an end to one-party rule.
But after huge and sometimes violent protests roiled the city in 2019, Beijing brought in a wide-ranging national security law that has quashed political dissent.
The public memorial has effectively been banned and Chow imprisoned, facing a potential life sentence on subversion charges.
On Wednesday, AFP journalists saw at least seven people taken away by police around Victoria Park, including two schoolgirls holding white flowers -- which often signify mourning in Chinese culture -- and a man standing in silent tribute.
Some people were stopped and searched by police.
"It's a shame that there's no more (vigils)... In fact, no one will ever forget (the vigils)," a man named Yuen, 49, who did not give his first name, told AFP.
Over the last few years, activists have been detained for "offences in connection with seditious intention" around the anniversary.
In a social media post, Chow said her hunger strike would "commemorate this day and reaffirm our commitment" and urged authorities to apologise over her "wrongful" imprisonment.
"History tells us that (the apology) will likely take a very long time -- the Tiananmen Mothers have been waiting for 36 years and still have not received an apology," she said, referring to an activist group made up of families of victims of the crackdown.
A video featuring 87-year-old Zhang Xianling, whose 19-year-old son was killed in 1989, circulated online last week.
China's authorities have never addressed the group's plea for dialogue around the issue -- instead, they have used all means to monitor and wiretap members of the Tiananmen Mothers, Zhang said.
"The lights in Victoria Park may have been blown out by the gales, but the sparks of justice will glow in the hearts of every conscientious person," she added.
At a vigil Wednesday on Taipei's Liberty Square, 20-year-old American student Lara Waldron told AFP: "I feel like this June 4 is very close to me right now.
"As a college student, I'm of the age of many organisers and participants -- people (who) lost their lives in Tiananmen."
AFP Beijing
Published: 04 Jun 2025, 23: 07
China, US flag
Beijing hit back Wednesday at US Secretary of State Marco Rubio for saying the world will "never forget" the deadly Tiananmen Square crackdown in 1989, describing his remarks as an "attack" on China.
Troops and tanks forcibly cleared peaceful protesters from Beijing's Tiananmen Square on 4 June 1989, after weeks-long demonstrations demanding greater political freedoms.
The exact toll is unknown but hundreds died, with some estimates exceeding 1,000.
China's communist rulers have since sought to erase any public mention of the crackdown, with censors scrubbing all online references.
Police were seen by AFP on Wednesday at the entrance to Wan'an Cemetery, a site in west Beijing where victims of the crackdown are known to be buried.
Officers were also posted at several intersections leading into Tiananmen Square.
On Wednesday evening, a line of buses and a cherry picker partially blocked screens at the German and Canadian embassies showing images of candles, a symbol commonly used to pay tribute to Tiananmen victims.
'Never forget'
Rubio said in a statement the "world will never forget" what happened on June 4, even as Beijing "actively tries to censor the facts".
"Today we commemorate the bravery of the Chinese people who were killed as they tried to exercise their fundamental freedoms, as well as those who continue to suffer persecution as they seek accountability and justice for the events of June 4, 1989," Rubio said.
Chinese foreign ministry spokesman Lin Jian hit back during a briefing in the capital, saying Beijing had "lodged a solemn protest" over the American politician's comments which "maliciously distort historical facts ... and seriously interfere in China's internal affairs".
Taiwanese President Lai Ching-te echoed Rubio's remarks, vowing to preserve the memory of victims of the bloody crackdown.
"Authoritarian governments often choose to be silent and forget history; democratic societies choose to preserve the truth and refuse to forget those who have contributed to the ideal of human rights and their dreams," Lai said on Facebook.
China claims Taiwan is part of its territory and has threatened to seize the democratically-run island by force.
'Reaffirm our commitment'
In Hong Kong, jailed activist Chow Hang-tung began a 36-hour hunger strike on Wednesday, a dogged attempt to individually commemorate the anniversary in a city that once hosted huge public remembrances.
The former lawyer used to help organise an annual vigil that drew tens of thousands to the city's Victoria Park.
Hong Kong had been the only place under Chinese rule where commemoration of the crackdown was tolerated.
Slogans at the candlelight vigil sometimes called for democracy in China and an end to one-party rule.
But after huge and sometimes violent protests roiled the city in 2019, Beijing brought in a wide-ranging national security law that has quashed political dissent.
The public memorial has effectively been banned and Chow imprisoned, facing a potential life sentence on subversion charges.
On Wednesday, AFP journalists saw at least seven people taken away by police around Victoria Park, including two schoolgirls holding white flowers -- which often signify mourning in Chinese culture -- and a man standing in silent tribute.
Some people were stopped and searched by police.
"It's a shame that there's no more (vigils)... In fact, no one will ever forget (the vigils)," a man named Yuen, 49, who did not give his first name, told AFP.
Over the last few years, activists have been detained for "offences in connection with seditious intention" around the anniversary.
In a social media post, Chow said her hunger strike would "commemorate this day and reaffirm our commitment" and urged authorities to apologise over her "wrongful" imprisonment.
"History tells us that (the apology) will likely take a very long time -- the Tiananmen Mothers have been waiting for 36 years and still have not received an apology," she said, referring to an activist group made up of families of victims of the crackdown.
A video featuring 87-year-old Zhang Xianling, whose 19-year-old son was killed in 1989, circulated online last week.
China's authorities have never addressed the group's plea for dialogue around the issue -- instead, they have used all means to monitor and wiretap members of the Tiananmen Mothers, Zhang said.
"The lights in Victoria Park may have been blown out by the gales, but the sparks of justice will glow in the hearts of every conscientious person," she added.
At a vigil Wednesday on Taipei's Liberty Square, 20-year-old American student Lara Waldron told AFP: "I feel like this June 4 is very close to me right now.
"As a college student, I'm of the age of many organisers and participants -- people (who) lost their lives in Tiananmen."
Saif
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Trump and Xi agree to more talks as trade disputes brew
U.S. President Donald Trump and Chinese leader Xi Jinping confronted weeks of brewing trade tensions and a battle over critical minerals in a rare leader-to-leader call on Thursday that left key issues to further talks. During the more than one-hour-long call, Xi told Trump to back down from trade
Trump and Xi agree to more talks as trade disputes brew
REUTERS
Published :
Jun 05, 2025 23:50
Updated :
Jun 05, 2025 23:50
U.S. President Donald Trump meets with China’s President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. Photo : REUTERS/Kevin Lamarque/Files
U.S. President Donald Trump and Chinese leader Xi Jinping confronted weeks of brewing trade tensions and a battle over critical minerals in a rare leader-to-leader call on Thursday that left key issues to further talks.
During the more than one-hour-long call, Xi told Trump to back down from trade measures that roiled the global economy and warned him against threatening steps on Taiwan, according to a Chinese government summary.
But Trump said on social media that the talks focused primarily on trade led to “a very positive conclusion,” announcing further lower-level U.S.-China discussions, and that “there should no longer be any questions respecting the complexity of Rare Earth products.”
He later told reporters: “We’re in very good shape with China and the trade deal.”
The leaders also invited each other to visit their respective countries.
The highly anticipated call came in the middle of a dispute between Washington and Beijing in recent weeks over “rare earths” minerals that threatened to tear up a fragile truce in the trade war between the two biggest economies. It was not clear from either countries’ statements that the issue had been resolved.
A U.S. delegation led by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will meet with their Chinese counterparts “shortly at a location to be determined,” Trump said on social media.
The countries struck a 90-day deal on May 12 to roll back some of the triple-digit, tit-for-tat tariffs they had placed on each other since Trump’s January inauguration.
Though stocks rallied, the temporary deal did not address broader concerns that strain the bilateral relationship, from the illicit fentanyl trade to the status of democratically governed Taiwan and U.S. complaints about China’s state-dominated, export-driven economic model.
Since returning to the White House in January, Trump has repeatedly threatened an array of punitive measures on trading partners, only to revoke some of them at the last minute. The on-again, off-again approach has baffled world leaders and spooked business executives.
Major U.S. stock indexes were higher on Thursday.
China’s decision in April to suspend exports of a wide range of critical minerals and magnets continues to disrupt supplies needed by automakers, computer chip manufacturers and military contractors around the world.
Beijing sees mineral exports as a source of leverage - halting those exports could put domestic political pressure on the Republican U.S. president if economic growth sags because companies cannot make mineral-powered products.
The 90-day deal to roll back tariffs and trade restrictions is tenuous. Trump has accused China of violating the agreement and has ordered curbs on chip-design software and other shipments to China. Beijing rejected the claim and threatened counter-measures.
“The U.S. side should take a realistic view of the progress made and withdraw the negative measures imposed on China,” the Chinese government said in a statement summarizing Xi’s call with Trump published by the state-run Xinhua news agency. “Xi Jinping emphasized that the United States should handle the Taiwan issue prudently.”
TOP RIVALS
In recent years, the United States has identified China as its top geopolitical rival and the only country in the world able to challenge the U.S. economically and militarily.
Despite this and repeated tariff announcements, Trump has spoken admiringly of Xi, including of the Chinese leader’s toughness and ability to stay in power without the term limits imposed on U.S. presidents.
Trump has long pushed for a call or a meeting with Xi, but China has rejected that as not in keeping with its traditional approach of working out agreement details before the leaders talk.
The U.S. president and his aides see leader-to-leader talks as vital to sort through log-jams that have vexed lower-level officials in difficult negotiations.
Thursday’s call came at Trump’s request, China said.
It’s not clear when the two men last spoke.
Both sides said they spoke on Jan. 17, days before Trump’s inauguration and Trump has repeatedly said that he had spoken to Xi since taking office on Jan. 20. He has declined to say when any call took place or to give details of their conversation. China had said that the two leaders had not had any recent phone calls.
The talks are being closely watched by investors worried that a chaotic trade war could disrupt supply chains in the key months before the Christmas holiday shopping season. Trump’s tariffs are the subject of ongoing litigation in U.S. courts.
Trump has met Xi on several occasions, including exchange visits in 2017, but they have not met face to face since 2019 talks in Osaka, Japan.
Xi last traveled to the U.S. in November 2023, for a summit with then-President Joe Biden, resulting in agreements to resume military-to-military communications and curb fentanyl production.
REUTERS
Published :
Jun 05, 2025 23:50
Updated :
Jun 05, 2025 23:50
U.S. President Donald Trump meets with China’s President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. Photo : REUTERS/Kevin Lamarque/Files
U.S. President Donald Trump and Chinese leader Xi Jinping confronted weeks of brewing trade tensions and a battle over critical minerals in a rare leader-to-leader call on Thursday that left key issues to further talks.
During the more than one-hour-long call, Xi told Trump to back down from trade measures that roiled the global economy and warned him against threatening steps on Taiwan, according to a Chinese government summary.
But Trump said on social media that the talks focused primarily on trade led to “a very positive conclusion,” announcing further lower-level U.S.-China discussions, and that “there should no longer be any questions respecting the complexity of Rare Earth products.”
He later told reporters: “We’re in very good shape with China and the trade deal.”
The leaders also invited each other to visit their respective countries.
The highly anticipated call came in the middle of a dispute between Washington and Beijing in recent weeks over “rare earths” minerals that threatened to tear up a fragile truce in the trade war between the two biggest economies. It was not clear from either countries’ statements that the issue had been resolved.
A U.S. delegation led by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will meet with their Chinese counterparts “shortly at a location to be determined,” Trump said on social media.
The countries struck a 90-day deal on May 12 to roll back some of the triple-digit, tit-for-tat tariffs they had placed on each other since Trump’s January inauguration.
Though stocks rallied, the temporary deal did not address broader concerns that strain the bilateral relationship, from the illicit fentanyl trade to the status of democratically governed Taiwan and U.S. complaints about China’s state-dominated, export-driven economic model.
Since returning to the White House in January, Trump has repeatedly threatened an array of punitive measures on trading partners, only to revoke some of them at the last minute. The on-again, off-again approach has baffled world leaders and spooked business executives.
Major U.S. stock indexes were higher on Thursday.
China’s decision in April to suspend exports of a wide range of critical minerals and magnets continues to disrupt supplies needed by automakers, computer chip manufacturers and military contractors around the world.
Beijing sees mineral exports as a source of leverage - halting those exports could put domestic political pressure on the Republican U.S. president if economic growth sags because companies cannot make mineral-powered products.
The 90-day deal to roll back tariffs and trade restrictions is tenuous. Trump has accused China of violating the agreement and has ordered curbs on chip-design software and other shipments to China. Beijing rejected the claim and threatened counter-measures.
“The U.S. side should take a realistic view of the progress made and withdraw the negative measures imposed on China,” the Chinese government said in a statement summarizing Xi’s call with Trump published by the state-run Xinhua news agency. “Xi Jinping emphasized that the United States should handle the Taiwan issue prudently.”
TOP RIVALS
In recent years, the United States has identified China as its top geopolitical rival and the only country in the world able to challenge the U.S. economically and militarily.
Despite this and repeated tariff announcements, Trump has spoken admiringly of Xi, including of the Chinese leader’s toughness and ability to stay in power without the term limits imposed on U.S. presidents.
Trump has long pushed for a call or a meeting with Xi, but China has rejected that as not in keeping with its traditional approach of working out agreement details before the leaders talk.
The U.S. president and his aides see leader-to-leader talks as vital to sort through log-jams that have vexed lower-level officials in difficult negotiations.
Thursday’s call came at Trump’s request, China said.
It’s not clear when the two men last spoke.
Both sides said they spoke on Jan. 17, days before Trump’s inauguration and Trump has repeatedly said that he had spoken to Xi since taking office on Jan. 20. He has declined to say when any call took place or to give details of their conversation. China had said that the two leaders had not had any recent phone calls.
The talks are being closely watched by investors worried that a chaotic trade war could disrupt supply chains in the key months before the Christmas holiday shopping season. Trump’s tariffs are the subject of ongoing litigation in U.S. courts.
Trump has met Xi on several occasions, including exchange visits in 2017, but they have not met face to face since 2019 talks in Osaka, Japan.
Xi last traveled to the U.S. in November 2023, for a summit with then-President Joe Biden, resulting in agreements to resume military-to-military communications and curb fentanyl production.
Saif
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- #191
Trump says China can buy Iranian oil, but urges it to purchase US crude
US President Donald Trump said on Tuesday that China can continue to purchase Iranian oil after Israel and Iran agreed to a ceasefire, a move that the White House clarified did not indicate a relaxation of US sanctions. “China can now continue to purchase Oil from Iran. Hopefully, they will be...
en.prothomalo.com
Trump says China can buy Iranian oil, but urges it to purchase US crude
- Senior White House official said Trump’s comments do not reflect a new policy
-
- Trump’s comments signal bearish outlook for oil prices
-
- No near-term impact on China’s Iranian, US oil purchases expected
-
- Saudi Arabia may be upset by China’s Iranian oil purchases
Reuters
Published: 25 Jun 2025, 12: 15
A tug boat tows a barge off the coast of Khasab, on northern Oman’s Musandam Peninsula overlooking the Strait of Hormuz on 24 June 2025 AFP
US President Donald Trump said on Tuesday that China can continue to purchase Iranian oil after Israel and Iran agreed to a ceasefire, a move that the White House clarified did not indicate a relaxation of US sanctions.
“China can now continue to purchase Oil from Iran. Hopefully, they will be purchasing plenty from the US, also,” Trump said in a post on Truth Social, just days after he ordered US bombings of three Iranian nuclear sites.
Trump was drawing attention to no attempts by Iran so far to close the Strait of Hormuz to oil tankers, as a closure would have been hard for China, the world’s top importer of Iranian oil, a senior White House official told Reuters.
“The president continues to call on China and all countries to import our state-of-the-art oil rather than import Iranian oil in violation of US sanctions,” the official said.
After the ceasefire announcement, Trump’s comments on China were another bearish signal for oil prices, which fell nearly 6 per cent on Tuesday.
Any relaxation of sanctions enforcement on Iran would mark a US policy shift after Trump said in February he was re-imposing maximum pressure on Iran, aiming to drive its oil exports to zero, over its nuclear program and funding of militants across the Middle East.
Trump imposed waves of Iran-related sanctions on several of China’s independent “teapot” refineries and port terminal operators for purchases of Iranian oil.
“President Trump’s greenlight for China to keep buying Iranian oil reflects a return to lax enforcement standards,” said Scott Modell, a former CIA officer, now CEO of Rapidan Energy Group.
In addition to not enforcing sanctions, Trump could suspend or waive sanctions imposed by executive order or under authorities a president is granted in laws passed by Congress.
Trump will likely not waive sanctions ahead of coming rounds of US-Iran nuclear talks, Modell said. The measures provide leverage given Tehran’s demand that any deal includes lifting them permanently.
Jeremy Paner, a partner at law firm Hughes Hubbard & Reed, said if Trump chooses to suspend Iran oil-related sanctions, it would require lots of work between agencies.
The US Treasury would need to issue licenses, and the State Department would have to issue waivers, which require Congressional notification.
Oil traders and analysts in Asia said they did not expect Trump’s comments to have a near-term impact on Chinese purchases of oil from either Iran or the US
Iranian oil accounts for roughly 13.6 per cent of China’s oil purchases this year, with the discounted barrels providing a lifeline to margin-squeezed independent refineries. US oil accounts for just 2 per cent of China’s imports, and Beijing’s 10 per cent tariffs on US oil deter further purchases.
Pressure on China
China has long opposed what it has called Washington’s “abuse of illegal unilateral sanctions.” China’s embassy in Washington did not immediately respond to a request for comment about Trump’s post.
Larger purchases of Iranian oil by China and other consumers could upset US ally Saudi Arabia, the world’s largest oil exporter.
The impact of US sanctions on Iran’s exports, however, has been limited since Trump’s first administration when he cracked down harder on Tehran.
Trump has “flashed the Glock” this year with sanctions on Chinese trading companies and terminals, Modell said, referring to revealing a gun. But the results have been far more “minimum pressure” than maximum, Modell added.
State Department spokesperson Tammy Bruce told reporters that Trump had signaled what he wanted to happen and that his administration is focused on delivering that. She would not say what the process would entail.
“But clearly we are focused on making sure that (the) guiding hand of President Trump prevails and moves this government forward, so we will have to wait and see when it comes to what that ends up looking like,” Bruce said.
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