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US China Trade War
Serious differences persist between the US and China despite the recent summit between Chinese President Xi Jinping and his US counterpart Donald Trump in Washington, which was marked by rare bonhomie, a close Trump aide said. Both sides still have issues that predated Xi's visit last week and would continue working on them, Republican Senator Steve Daines, a close Trump aide and key interlocutor between Washington and Beijing, told the Hong Kong-based South China Morning Post. "So that's again why it's really important to keep the dialogue going between two countries because both sides admit we've got some serious differences. But the answer is not to retreat. The answer is to stay engaged," Daines said. Daines, who played a key backchannel role ahead of Xi's visit, was responding to US Ambassador to China David Perdue's accusation that Beijing was "weaponising" its dominant position in critical minerals. In an interview with Fox News Sunday on September 27, Perdue made these ...
Top officials from the US and China held "candid, in-depth and constructive" talks on economic and trade issues, including on AI, ahead of Chinese President Xi Jinping's visit to Washington, official media reported on Monday. The talks were held between Chinese Vice Premier He Lifeng, US Treasury Secretary Scott Bessent and American Trade Representative Jamieson Greer in New York on Sunday, China's state-run Xinhua news agency reported. Guided by the important consensus reached by the heads of state of the two countries, they have engaged in exchanges on important economic and trade issues of common concern, as well as the implementation of consensus reached in previous talks, by upholding the principles of mutual respect, peaceful coexistence and win-win cooperation, the report said. Xinhua said Bessent and the vice premier talked about issues "relating to AI" without mentioning specifics and also had "candid, in-depth and constructive" discussions on key economic and trade ...
China and the United States are divided on many issues, from tariffs and technology to Taiwan. But there is one thing tying them together: fast food. American restaurant and beverage chains are expanding rapidly in China, drawn by the potential customer pool in a country with four times the US population. China's languishing economy and cutthroat industry competition, meanwhile, have Chinese chains trying their luck in the US, turning crumbs and straws into a two-way cultural bridge between the two superpowers. The bilateral trade in burgers and bubble tea is business- and consumer-led gastrodiplomacy in action, said Yaling Jiang, the founder of ApertureChina, a market research company with headquarters in Shanghai and London. In China, recent American arrivals like Popeyes and Five Guys are seen as a guilty pleasure, she said, while the increasingly international palates of Americans have created space for Chinese brands to serve as their nation's unofficial ambassadors. "Consume
President Donald Trump is moving toward levying a new tariff on China that would penalise the world's second-largest economy for flooding the global market with underpriced goods, according to three people familiar with the matter. Two of the people, who spoke on condition of anonymity to discuss internal deliberations still being finalised, said Trump is considering setting the new tariff at 7.5 per cent. It's a level administration officials believe would not endanger the one-year trade truce between Washington and Beijing or a planned White House meeting between Trump and Chinese President Xi Jinping expected to take place in late September. The move, if finalised, appears to be a calibrated effort by the White House to work around a Supreme Court decision earlier this year that struck down Trump's plan to implement a sweeping, high-tariff scheme not seen since the 1930s. After that decision, the Trump administration announced in March it was launching formal investigations ...