US Trade Representative Robert Lighthizer played down expectations ahead of the meeting in Beijing, which is due to be followed by more talks in Washington in early April. (Photo: AFP/MANDEL NGAN) US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are expected to resume talks in Beijing with China's top economic official Liu He, the first since China put into law new measures seen as an olive branch in their high-stakes stand-off. While US President Donald Trump has voiced hope that he could soon hold a signing ceremony with his Chinese counterpart Xi Jinping, negotiations have dragged on, suggesting substantial differences remain. But Lighthizer sought to play down expectations ahead of the meeting in Beijing, which is due to be followed by more talks in Washington in early April. "I'm hoping but not necessarily hopeful ... If there's a great deal to be gotten, we'll get it - if not, we'll find another plan," he told National Public Radio earlier this … [Read more...] about US China trade talks to open in Beijing
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Vietnam could benefit most in Asia from US-China trade war: experts
Vietnam is taking advantage of trade tensions to boost the nation’s profile as a manufacturing and export powerhouse, selling everything from shoes to smartphones (Illustrative image. Source: VNA) Hanoi (VNA) – The business news website Bloomberg has run an article explaining why Vietnam could get the most benefits among Asian nations from the US-China trade conflict. The article titled “Why Vietnam could be Asia’s biggest trade war winner” quoted a senior economist at Natixis in China’s Hong Kong as saying “Vietnam is poised to capture some of China’s global market share in labour-intensive manufacturing”. Vietnam is taking advantage of trade tensions to boost the nation’s profile as a manufacturing and export powerhouse, selling everything from shoes to smartphones. Trade amounts to about twice its gross domestic product - more than any country in Asia apart from Singapore, the economist said. The article also looks at … [Read more...] about Vietnam could benefit most in Asia from US-China trade war: experts
Dow falls 2pc as Huawei arrest revives US China fears
Wall Street fell sharply early on Thursday (Dec 6), joining a global stocks sell-off after the arrest of a key Chinese executive at Washington's request revived worries over trade tensions. Traders work on the floor at the New York Stock Exchange. (Photo: AFP/Bryan R Smith) About 25 minutes into trading, the Dow Jones Industrial Average had fallen 2 per cent, around 500 points, to 24,528.26. The broad-based S&P 500 also sank 2 per cent to 2,646.13, while the tech-rich Nasdaq Composite Index shed 1.9 per cent to 7,021.08. The drops came after the arrest of Huawei executive Meng Wanzhou in Canada for extradition to the United States in an investigation into suspected Iran sanctions violations by the telecom giant. Other headwinds facing stocks include worries over slowing US growth and weakness among petroleum-linked stocks amid a pullback in oil prices as OPEC members debated a production cut. The Meng arrest stirred tensions just as the United States and China agreed to a … [Read more...] about Dow falls 2pc as Huawei arrest revives US China fears
Better control of imports-exports needed to shelter VN from US-China trade war.
Authorities should closely monitor the import and export of goods for origin to prevent customs declaration fraud, a seminar heard in HCM City on Friday. With the US-China trade war escalating, Chinese firms could ship their unfinished products to Viet Nam and then export them to the US through a Viet Nam-based firm as an intermediary to avoid tariffs, Ngo Vo Minh Hung, business director of VIFON, warned. This would affect Viet Nam, as evidenced by the case of steel originating in China but exported from Viet Nam, he said. The US Department of Commerce had decided to slap tariffs on steel produced in Viet Nam using Chinese-origin materials, he said. With the trade war causing difficulties for Chinese firms in exporting to the US, they would increase exports to other countries, including Viet Nam, putting big pressure on local producers, he said. He called on related agencies to better monitor imports and exports to prevent the import of poor quality products and customs fraud. Bui … [Read more...] about Better control of imports-exports needed to shelter VN from US-China trade war.
Better control of imports-exports needed to shelter VN from US-China trade war: seminar
Viet Nam News HCM CITY — Authorities should closely monitor the import and export of goods for origin to prevent customs declaration fraud, a seminar heard in HCM City on Friday. With the US-China trade war escalating, Chinese firms could ship their unfinished products to Việt Nam and then export them to the US through a Việt Nam-based firm as an intermediary to avoid tariffs, Ngô Võ Minh Hưng, business director of VIFON, warned. This would affect Việt Nam, as evidenced by the case of steel originating in China but exported from Việt Nam, he said. The US Department of Commerce had decided to slap tariffs on steel produced in Việt Nam using Chinese-origin materials, he said. With the trade war causing difficulties for Chinese firms in exporting to the US, they would increase exports to other countries, including Việt Nam, putting big pressure on local producers, he said. He called on related agencies to better monitor … [Read more...] about Better control of imports-exports needed to shelter VN from US-China trade war: seminar