Page 9 - China Us Trade

China protests US sanctions for its alleged role in hacking incidents

China has slammed a decision by the US Treasury to sanction a Beijing-based cybersecurity company for its alleged role in multiple hacking incidents targeting critical US infrastructure, while the Chinese cyber security agency complained Monday of attacks on Chinese networks. Asked about the sanctions against Beijing-based Integrity Technology Group, Chinese Foreign Ministry spokesperson Guo Jiakun said the country has cracked down on cyber attacks and that Washington was using the issue to defame and smear China. For some time now, the US side has been playing up so-called Chinese cyber attacks and has even initiated illegal unilateral sanctions against China, Guo said. China firmly opposes this and will take necessary measures to safeguard its legitimate rights and interests. Integrity Technology Group said the move by Washington had no factual basis. The company firmly opposes the U.S. Treasury Department's unwarranted accusations and Illegal unilateral sanctions on the company,

9th telecom firm hit by massive Chinese espionage campaign: White House

A ninth US telecom firm has been confirmed to have been hacked as part of a sprawling Chinese espionage campaign that gave officials in Beijing access to private texts and phone conversations of an unknown number of Americans, a top White House official has said. Biden administration officials said this month that at least eight telecommunications companies, as well as dozens of nations, had been affected by the Chinese hacking blitz known as Salt Typhoon. But deputy national security adviser Anne Neuberger told reporters Friday that a ninth victim had been identified after the administration released guidance to companies about how to hunt for Chinese culprits in their networks. The update from Neuberger is the latest development in a massive hacking operation that has alarmed national security officials, exposed cybersecurity vulnerabilities in the private sector and laid bare China's hacking sophistication. The hackers compromised the networks of telecommunications companies to

US lawmakers demand to scrap China science agreement renewal deal for 5 yrs

Extension comes despite repeated requests from Congress to either suspend the agreement or implement stronger safeguards to protect US national security, human rights, and intellectual property

Mexico, Canada, Asean gained more from US-China trade war than India: GTRI

Mexico, Canada, and 10-nation Southeast Asian bloc ASEAN benefited more from the US-China trade war than India, economic think tank GTRI said in a report. It said that India has to strengthen its local supply chains and produce critical intermediates to reduce reliance on China, while improving cost efficiency and ease of doing business to enhance competitiveness of domestic industries and increase exports to the US. With Donald Trump again becoming the US President, the evolving trade landscape offers huge opportunities for the Indian industry as he is now planning new tariffs targeting Mexico, Canada, China, and others. The US-China trade war, initiated in 2018 under President Trump with tariffs targeting key sectors, has significantly reshaped global trade flows but failed to achieve its primary goals. "Key beneficiaries of the trade war included Mexico, Canada, and ASEAN nations, which collectively accounted for 57 per cent of the growth in US imports. India also emerged as a

Trump's trade adviser warns against China's attempt to manipulate currency

Peter Navarro, Trump's new senior counselor for trade and manufacturing, said White House would not interfere with the Treasury's review to see foreign trade partners are not manipulating currencies

China regulators tell banks to speed up offshore listings to boost economy

The closed-door meetings and their details, which have not been reported previously, mark a strategic change for China after it framed rules for offshore fundraisings in March 2023, tightening

US lawmakers raise concerns in new export rules on China's chip access

They criticised the introduction of the 'License Exception Restricted Fabrication Facility,' a list-based approach which they argued would be ineffective in protecting US national security

China's industries warn US chips no longer safe amid rising trade tensions

China and the US have targeted each other's economies in the last few days, escalating tensions even before U.S. President-elect Donald Trump returns to the White House in January

US commerce dept expands list of Chinese firms subject to export controls

The US Commerce Department has expanded the list of Chinese technology companies subject to export controls to include many that make equipment used to make computer chips, chipmaking tools and software. The 140 companies newly included in the so-called entity list are nearly all based in China. But some are Chinese-owned businesses in Japan, South Korea and Singapore. The revised rules were posted Monday on the website of the U.S. Federal Register for publication later this week. They also limit exports of high-bandwidth memory chips to China. Such chips are needed to process massive amounts of data in advanced applications such as artificial intelligence. China's Commerce Ministry protested and said it would act to protect its rights and interests, without giving any details. This is a typical act of economic coercion and non-market practice, the ministry said in a statement. Commerce Secretary Gina Raimondo said the move was intended to impair China's ability to use advanced ..

China's state media praises some US firms amid fears of new trade war

The China Daily also noted that Morgan Stanley received regulatory approval in March to expand its China operations, citing this as evidence of foreign financial firms' enthusiasm for investing

China state media dismiss Trump's tariff threat, focus on fentanyl

Trump is threatening Beijing with far higher tariffs than the 7.5 per cent-25 per cent levied on Chinese goods during his first term

Willing to talk with US to push forward bilateral trade, says China

China is also willing to 'expand areas of cooperation and manage differences' with the US, vice commerce minister Wang Shouwen said

China 'ready to work' with Trump administration: Xi tells President Biden

Xi further emphasised maintaining a 'stable, healthy and sustainable' China-US relationship

US Prez Biden, China's Xi to meet in Peru on Nov 16, discuss bilateral ties

Outgoing US President Joe Biden will meet his Chinese counterpart Xi Jinping in Peru on Saturday on the sidelines of an international summit, during which the two leaders expect to review the bilateral relations, the White House said Wednesday. "We expect the president will use the opportunity to take stock of efforts to responsibly manage competition over the last four years, how the two countries have advanced areas of shared interest, and, even amidst deep differences and intense competition, have worked to do so," a senior administration official said. The two leaders are scheduled to meet on November 16 at Lima, the capital of Peru, on the sidelines of the Asia-Pacific Economic Cooperation Summit. The meeting would come just over two months before Donald Trump's return to the White House. This will be their third in-person meeting since Biden entered office. They previously met in Bali, in 2022, on the margins of the G20, and at Woodside, California in 2023, on the margins of .

Apple may double iPhone production in India amid US-China tariff threats

Apple could increase iPhone production in India to over $30 billion annually, creating 200,000 jobs, if US tariffs on Chinese imports push the company to shift more manufacturing

Oil prices fall as Blinken visits Israel, China's weak demand weighs

US Secretary of State Antony Blinken arrived in Israel on Tuesday, the first stop on a Middle East tour in which he will seek to revive talks to end the Gaza war and defuse the spillover conflict

India plays key geopolitical role from American standpoint: USISPF

India plays a pivotal role geopolitically from an American perspective and offers US companies the opportunity to de-risk from China in the manufacturing sector, the head of a top India-centric American business and strategic advocacy group has said. The economic growth story of India is tremendous. India is among very few large economies which are growing seven to eight per cent, Mukesh Aghi, the President and CEO of the US-India Strategic and Partnership Forum (USISPF), said on Wednesday. From an American perspective, India plays a "pivotal role" geopolitically, he said. "India is one economy which is providing market opportunity, especially to US companies that come in and invest and gain market share. It is an economy which is providing de-risking from China itself in the manufacturing area, Aghi told PTI in an interview. What we are seeing is the Indian economy is not just becoming a market opportunity, it's becoming an opportunity for manufacturing. ..But more important is we

Trump slams China trade practices, gets 'God Bless US' Bibles printed there

Thousands of copies of Donald Trump's 'God Bless the USA' Bible were printed in a country that the former president has repeatedly accused of stealing American jobs and engaging in unfair trade practices China. Global trade records reviewed by The Associated Press show a printing company in China's eastern city of Hangzhou shipped close to 1,20,000 of the Bibles to the United States between early February and late March. The estimated value of the three separate shipments was USD 3,42,000, or less than USD 3 per Bible, according to databases that use customs data to track exports and imports. The minimum price for the Trump-backed Bible is USD 59.99, putting the potential sales revenue at about USD 7 million. The Trump Bible's connection to China, which has not been previously reported, reveals a deep divide between the former president's harsh anti-China rhetoric and his rush to cash in while campaigning. The Trump campaign did not respond to emails and calls seeking comment. Tr

China, US to hold talks in near future on economic, trade issues: Reports

The tariffs were imposed after a review by the Office of the US Trade Representative of levies that had been previously introduced by former US President Donald Trump

US-China research has given Beijing's military tech boost, says House GOP

Partnerships between the US and China at universities over the past decade have allowed hundreds of millions of dollars in federal funding to aid Beijing in developing critical technology that could be used for military purposes, congressional Republicans asserted in a new report. The report said US tax dollars have contributed to China's technological advancement and military modernization when American researchers worked with their Chinese peers in areas such as hypersonic weapons, artificial intelligence, nuclear technology and semiconductor technology. The report, released Monday by Republicans on the House Select Committee on the Chinese Communist Party and the House Education and Workforce Committee, raised concerns over the national security risks of collaborations between researchers from the two countries that were once celebrated. It urged stronger safeguards and more robust enforcement. The committees conducted a yearlong investigation as lawmakers and their policy advise