China, Cambodia to sign free trade agreement, inject impetus to economic recovery

A vendor carries fruit for sale in Phnom Penh, capital of Cambodia. Coronavirus-ravaged economies across the Asia Pacific region are expected to contract in 2020 for the first time in nearly six decades, throwing millions of people into poverty, the Asian Development Bank said. Photo: AFP  Chinese State Councilor and Foreign Minister Wang Yi arrived in Cambodia on Sunday for a two-day official visit, during which the two countries are set to sign a landmark China-Cambodia free trade agreement (FTA) among other important bilateral documents. The FTA is hailed by…

UN warns against ‘Cold War’ as US, China trade barbs

UNITED NATIONS – US President Donald Trump cast blame on China over the coronavirus pandemic in an address on Tuesday before the United Nations (UN), whose chief warned against a new ”Cold War” between the two powers. At a General Assembly held almost entirely virtually due to COVID-19, Trump delivered a speech in election campaign mode, while Chinese President Xi Jinping instead unveiled ambitious new targets to fight climate change. As the US death toll from COVID-19 reached the grim milestone of 200,000, the highest in the world, Trump attacked…

U.S. considers banning trade with China’s SMIC

“Such an action would ensure that all exports to SMIC would undergo a more comprehensive review,” Pentagon spokeswoman Sue Gough said by email Saturday, confirming an earlier report by Reuters. Gough declined to comment on the reasons for the review. The Pentagon in the past has warned that China’s efforts to develop corporate strength in technologies including semiconductors would be likely to benefit the People’s Liberation Army. A report last month by SOS International, a defense contractor in Reston, Va., said that SMIC has a variety of ties to China’s…

US, China reaffirm commitment to phase one trade deal after call, United States News & Top Stories

WASHINGTON (REUTERS) – Top US and Chinese trade officials reaffirmed their commitment to the phase one trade deal that has seen China lagging on its obligations to buy American goods, providing much needed relief to nervous markets on Tuesday (Aug 25).  The pledge was made in a phone call between US Trade Representative Robert Lighthizer, U.S Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He – their first formal dialogue since early May and came amid growing concerns the deal could be on shaky ground in an increasingly confrontational bilateral relationship.…

U.S., China reaffirm commitment to Phase 1 trade deal in phone call

WASHINGTON/BEIJING (Reuters) – Top U.S. and Chinese trade officials have reaffirmed their commitment to a Phase 1 trade deal, which has seen China lagging on its obligations to buy American goods, giving a boost to financial markets on Tuesday. FILE PHOTO: Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. REUTERS/Aly Song The pledge was made in a telephone call between U.S. Trade Representative Robert Lighthizer, U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier…

U.S., China reaffirm commitment to Phase 1 trade deal after call

WASHINGTON/BEIJING (Reuters) – Top U.S. and Chinese trade officials reaffirmed their commitment to the Phase 1 trade deal that has seen China lagging on its obligations to buy American goods, providing much needed relief to nervous markets on Tuesday. FILE PHOTO: Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. REUTERS/Aly Song The pledge was made in a phone call between U.S. Trade Representative Robert Lighthizer, U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier…

China targets Australian wine in escalation of trade dispute

China launched trade strikes on $1 billion worth of Australian beef and barley in April and has urged students and tourists to reconsider travelling to Australia. Shares in Treasury Wine Estates are in a trading halt, pending a further announcement from Australia’s biggest wine company. The company did not offer any further information in an ASX announcement to the ASX shortly after 11.30am. When trading in Treasury shares was halted on Tuesday morning the stock was down a hefty 14.1 per cent to $10.60. Last week Treasury released its results…

U.S.-China trade deal in ‘fine’ shape, White House’s Kudlow says

FILE PHOTO: White House economic advisor Larry Kudlow addresses a press briefing on the U.S. economy and new U.S. employment and unemployment numbers in the Brady Press Briefing Room at the White House in Washington, U.S., July 2, 2020. REUTERS/Tom Brenner WASHINGTON (Reuters) – China is continuing to buy U.S. goods, particularly commodities, under its Phase 1 trade deal with the United States, despite rising tensions over Hong Kong and other issues, top White House economic adviser Larry Kudlow said on Tuesday. Asked if deteriorating ties between the world’s two…

Trump’s TikTok order heats up China trade war. Can he still salvage a key relationship?

Is giving a big, aggressive speech on China now a requirement for the Trump administration’s senior officials? In the span of about four weeks this summer, four of the administration’s Cabinet officers — the attorney general, the FBI director, the national security adviser, and the secretary of state — each gave a speech condemning Beijing. The message was supposed to be clear: China is the most serious threat to America’s economic vitality, national security and global leadership. Except the message was not clear. The message was supposed to be clear:…