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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Vietnamese shrimp exports to the US may benefit from US-China trade conflict
The trade war between the two powerful countries is anticipated to create a direct impact on Vietnamese seafood, including shrimp - Illustrative image The trade war between the two powerful countries is anticipated to create a direct impact on economies across world, including Vietnam. Vietnamese seafood, including shrimp, will also suffer from certain impacts. The trade conflict has urged the US and China to raise their import tariffs, resulting in a slowdown in trade flow between the two countries. Countries supplying shrimp to China, such as Canada, Russia, Australia, and New Zealand, as well as shrimp suppliers to the US, such as Indonesia, Thailand, Mexico, Brazil and Vietnam, will benefit from the move. The US import tariff of 10 pct on shrimp products imported from China, coded HS 03061700, 16052105, 16052110, 16052905, and 16052910, are also Vietnamese shrimp products that have strength in the US market. These products are capable of competing with Chinese products in terms … [Read more...] about Vietnamese shrimp exports to the US may benefit from US-China trade conflict
Vietnam’s garment and textile industry advised to stay alert of US-China trade clash
The Hanoitimes - The profile of Vietnam’s garment and textile industry remains clear, without dumping or subsides, said the Vietnamese official. Vietnamese garment and textile enterprises should be proactive in response to ups-and-downs in the international market, especially the rising trade protectionism, said Deputy Director of the Export-Import Department under the Ministry of Industry and Trade (MoIT) Tran Thanh Hai. Hence, amid the trade clash between China and the US, Vietnam’s textile and garment industry is vulnerable to the threat of its reputation being taken advantage of, Hai was quoted by the Nhip Cau Dau Tu magazine as saying. Illustrative photo Currency devaluation proposed Meanwhile, Vu Duc Giang, chairman of Vietnam Textile Association (VITAS), highlighted the role of the government in the issue. “The Vietnamese government and the State Bank of Vietnam should consider raising the USD/VND exchange rate soon,” Giang told Nhip Cau Dau Tu … [Read more...] about Vietnam’s garment and textile industry advised to stay alert of US-China trade clash
Boeing, others assessing impact of US China tariffs
US trade groups and some large companies such as Boeing said on Friday (Jun 15) they were beginning to evaluate how new tariffs in the US-China trade spat could affect their operations. Boeing, others assessing impact of US-China tariffs, (AFP Photo/Jason Redmond) "We are assessing the impact these tariffs and any reciprocal action could have on our supply chain and commercial business," said Boeing spokesman Charles Bickers. The comments came in response to news that President Donald Trump would impose 25 per cent tariffs on tens of billions in Chinese imports, sparking immediate retaliation from Beijing. Boeing garnered about 12.8 per cent of its 2017 revenues from China and is frequently seen as among the more vulnerable US multinationals to an all-out trade war. "We will continue to engage with leaders in both countries to urge a productive dialogue to resolve trade differences, highlighting the mutual economic benefits of a strong and prosperous aerospace industry," … [Read more...] about Boeing, others assessing impact of US China tariffs
US China trade war fears escalate as threats ramp up
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