US-China trade war fears escalate as threats ramp up Trump remained defiant and argued the pain of the dispute will pay off in the end, while China said that his administration would only "shoot itself in the foot" if it didn't back down from the "extremely wrong" threats. Treasury Secretary Steven Mnuchin acknowledged there was a risk of a trade war, but said the intention is to defend US interests and the administration remains willing to negotiate. But top White House economic advisor Larry Kudlow reversed himself, and warned that the tariff threat is not a negotiating tactic. Global stock markets were unhappy with the turn of events, as Wall Street dropped more than two percent, following European and Asian markets lower. In the wake of the decision to impose steep tariffs on steel and aluminium imports, the United States on Tuesday published a list of US$50 billion in Chinese goods to be hit by tariffs over what Washington says is widespread theft of intellectual property and … [Read more...] about US China trade war fears escalate as threats ramp up
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Strengthening Vietnam – China Business Exchange and Cooperation
Strengthening Vietnam - China Business Exchange and Cooperation The signing ceremony of cooperation agreement between the Vietnam Chamber of Commerce and Industry (VCCI) and China Council for the Promotion of International Trade, Ningbo Sub-Council (CCPIT Ningbo), Ningbo City, Zhejiang Province, China took place in the framework of the Vietnam - China Business Roundtable Seminar. The event was recently organised by VCCI in Hanoi in order to facilitate businesses of both sides to boost exchanges and cooperation. The visiting Chinese delegation is comprised of businesses engaged in electrical appliances, electronics, garment and textile, paint, chemicals, pharmaceuticals, financial investment, real estate and others. VCCI Vice President Hoang Quang Phong said, the seminar was a good opportunity for businesses of both sides to strengthen exchanges, explore markets, meet each other in person, learn about products and opportunities, and contribute positively to good-performing economic … [Read more...] about Strengthening Vietnam – China Business Exchange and Cooperation
Viet Nam-China Business Forum Makes Debut
Viet Nam-China business forum will provide enterprises of the two countries more chances to foster bilateral relations, said Vietnamese Deputy PM Nguyen Sinh Hung on Wednesday. Deputy PM wished enterprises to make all-out efforts to develop economic and trade relations between the two countries. Chinese Ambassador to Viet Nam Hu Qianwen shared the same view, adding that Viet Nam-China trade and economic cooperation has entered a new period of development. He seemed optimistic about the target set for 2010: bilateral trade turnover hit US$10 billion can be reached before 2006. The ambassador also believed Chinese enterprises will invest more in Viet Nam when the country joins the World Trade Organization. On this occasion, Deputy Minister of Planning and Investment Truong Van Doan introduced some of the country's policies for foreign enterprises, saying Viet Nam is actively improving its legal framework in conformity with international practices. He added that the Vietnamese … [Read more...] about Viet Nam-China Business Forum Makes Debut
Vietnam, China business forum yields $2.5 billion in deals
A record US$2.5 billion worth of business contracts were reportedly signed between Vietnamese and Chinese entrepreneurs at the Vietnam-China Business Forum in Beijing on Friday. They included two credit agreements, one between the Electricity of Vietnam Group and the China Export Import Bank on providing purchaser's export credit to the Hai Phong thermopower 2 project, and the other between Vietnam's giant shipping corporation Vinalines and the China Development Bank on financing the Ben Dinh-Sao Mai project. They also included an agreement between An Phu Corp. and China Merchant Group to develop a $1-billion An Phu Hung urban complex in Ho Chi Minh City, and an agreement between Vietnam's Van Chan Hydropower Co. and a Chinese power group to build a $600-million thermopower plant in Vietnam. Among the others are a $400 million deal to build a highway linking Halong, Mong Cai and Quang Ninh, and a $33 million deal to build the Du Long Industrial Park in Vietnam's central Ninh Thuan … [Read more...] about Vietnam, China business forum yields $2.5 billion in deals
Kitchen sink joins list of US-China trade disputes
US trade authorities on Thursday announced an investigation into yet another Chinese export product, this time the veritable kitchen sink. The US Commerce Department said it is examining whether China is selling steel sinks below fair value and if Chinese sink manufacturers are getting unfair subsidies. Trade disputes between China and the United States are legion. The two economic powers have already sparred over the import and export of solar panels to tires to chickens. Now that list includes "imports of drawn stainless steel sinks" -- or kitchen sinks. The business -- while a fraction of the US-China's half a trillion dollar a year trade -- is not something to let slip down the drain. Chinese sink exports to the United States were worth $118 million in 2011, nearly double the level seen in 2009, according to official figures. The Elkay Manufacturing Company of Illinois had requested the investigation. In a statement earlier this month, Elkay claimed Chinese sinks were … [Read more...] about Kitchen sink joins list of US-China trade disputes