Page 12 - Us China Trade War

US slams China's unfair trade practices as 28 textile plants shut down

In 2024, the United States imported $79.3 billion worth of apparel, with 21 per cent of that coming from China

High US tariffs on China can boost India's manufacturing, says CEA

Global disruptions have created opportunities for emerging nations like India, and US tariffs on China could drive manufacturing shift to India due to lower duties, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Saturday. While there are worries about the first, second, and third round effects of the tariffs in terms of external demand to start with and the overall uncertainty and therefore implications for capital formation etc, there are some favourable outcomes also, he said at an event organised by Ashoka University here. One of the positive impacts of the uncertain global environment is a reduction in crude oil prices which are now available around USD 60 per barrel. It is a windfall from India as it lowers input cost and also provides fiscal space, he said. "China plus one, which was a different dimension earlier, now acquires a much higher sense of urgency for many other companies located inside China. So in some sense, you can call it a second wind (in favour of .

Singapore votes amid US-China trade tensions, ruling PAP seeks re-election

A total of 2,758,846 registered Singaporean voters are heading into polling booths for the 19 General Election 2025 (GE2025) to elect the next government which is set to face strong global headwinds caused by trade tariffs announced by the United States, the biggest trading partner of the Southeast Asian city-state. Voting began at 8 am on Saturday at 1,240 stations set up island-wide, with polling polling booths set to be be closed at 8 pm and results expected late at night. Prime Minister Lawrence Wong, completing nearly a year in office, is seeking a fresh mandate for the ruling People's Action Party (PAP), which has governed the city-state since independence and steered its development into a global financial hub. Singapore is in the cross road between US and China trade war, a diplomatic source said, adding that the trade focused island has strong diplomatic and economic relations with both the giant economies, a fall off from which will affect its future progress. Multination

As Trump closes China shipping loophole, prices to rise for US consumers

Trump last month signed an executive order closing a loophole that has allowed items from China and Hong Kong valued at no more than $800 to enter the US without customs declarations and import duties

Apple renews fears about tariffs, China with disappointing quarterly report

Apple expects $900 million in higher costs from tariffs in the current period, Chief Executive Officer Tim Cook said during a conference call

Evaluating trade talks with US, says China hinting at possible thaw

China's Commerce Ministry said in a Friday statement that it had noted senior US officials repeatedly expressing their willingness to talk to Beijing about tariffs

Kids may get 2 dolls in US, but China will suffer from trade war: Trump

Donald Trump, through his remarks, has tried to reassure Americans that the tariffs will not result in a recession

Trump claims China will 'eat' tariffs, reducing impact on US consumers

Trump said he did not believe hard times were ahead for US consumers, while acknowledging that his 145% tariffs on many Chinese goods amounted to a near-embargo

ArcelorMittal warns of trade disruption despite strong quarterly profit

ArcelorMittal shipped about 13.6 million tons of steel in the first quarter, slightly up from the year-ago period

Hoping to regain investor trust, China enacts its first private sector law

China's Private Economy Promotion Law aims to level the playing field for private firms, protect against unfair treatment, and revive business confidence amid US trade tensions

China's export orders dip in April as Trump's tariffs begin to bite

Higher tariffs on US imports of products from China appear to be taking a toll on the world's second-largest economy, according to monthly surveys of Chinese factory managers released Wednesday. The official survey by the China Federation of Logistics and Purchasing shows export orders slowed in April, with Beijing and Washington in a standoff after US President Donald Trump ordered combined tariffs of up to 145 per cent on Chinese goods. China has imposed duties of up to 125 per cent on US products, with some exemptions. It has also ordered other retaliation, such as tighter restrictions on exports of some strategically important minerals used for high-tech products such as electric vehicles. The official manufacturing purchasing managers index fell to a 16-month low of 49.0 from 50.5 in March. That's on a scale where 50 marks the break between expansion and contraction. A private survey by the financial information group Caixin fell to 50.4 from 51.2. The sharp drop in the PMIs .

Trump's tariffs cloud economy as US firms scale back shipments from China

American businesses are cancelling orders from China, postponing expansion plans and hunkering down to see what trade policy surprises President Donald Trump plans to spring on them next. The president's massive and unpredictable taxes on imports seem likely to mean emptier shelves and higher prices for American shoppers, perhaps within weeks. And the higher costs and paralysing uncertainty could exact an economic toll: US consumers are in the biggest funk since COVID-19 hit five years ago, and economists say recession risks are climbing. An early sign of the damage is expected to emerge on Wednesday when the Commerce Department releases its first look at first-quarter economic growth. The economy is forecast to have expanded at an annual pace of just 0.8 per cent from January through March, according to a survey of economists by the data firm FactSet. That would be the slowest quarter of growth in nearly three years and would be down from a healthy 2.4 per cent in the last three

China lashes out at US as tensions escalate over space observatory in Chile

China struck a defiant stance on Tuesday in response to American concerns about Beijing's efforts to expand its influence in the resource-rich South American nation of Chile, escalating tensions over a Chinese astronomical venture in Chile's arid north. At a press conference Tuesday in Chile's capital of Santiago, China's ambassador to Chile, Niu Qingbao, lambasted the United States for interfering in Chile's sovereign right to independently choose its partners and spreading "disinformation about the project. The astronomy project stems from a 2023 agreement between China's state-run National Astronomical Observatory and Chile's Catholic University of the North to work on a powerful space observatory in the country's vast northern Atacama Desert. The proposed high-resolution telescope would be able to observe near-Earth objects, which are classified as asteroids or comets. But the project quickly became entangled in China's spiralling rivalry with the Trump administration. Worries

Wall Street choppy as markets juggle trade war news, mixed earnings

The world's two largest economies have slapped tit-for-tat import tariffs on each other and uncertainty around the state of negotiations between the two has kept markets on edge

AO Smith Q1 revenue dips 2% on weak US, China water heater demand

The company, which makes residential and commercial water heaters, boilers, tanks and treatment products, posted a 2 per cent fall in quarterly sales to $963.9 million

Trade war with US may kill 16 million jobs in China, warns Goldman Sachs

Retail, manufacturing, and coastal economies brace for impact as US-China trade tensions escalate

Walmart tells Chinese suppliers to resume shipments amid US trade war

Since the imposition of a 145% tariff on Chinese imports in the US, American logistics firms have reported a sharp decline in container bookings

Retailers warn of empty shelves as US-China trade war disrupts shipments

Many logistics firms are storing goods in warehousing or rerouting through Canada to wait out the tariff war

Nations forced to choose sides as US-China economic tensions intensify

One went to the United States. The other went to China. It was a sign of the times. While the Swiss president was in Washington last week to lobby US officials over President Donald Trump's threatened 31% tariff on Swiss goods, the Swiss foreign minister was in Beijing, expressing his nation's willingness to strengthen cooperation with China and upgrade a free trade agreement. As Trump's trade war locks the world's two largest economies on a collision course, America's unnerved allies and partners are cosying up with China to hedge their bets. It comes as Trump's trade push upends a decade of American foreign policy including his own from his first term toward rallying the rest of the world to join the United States against China. And it threatens to hand Beijing more leverage in any eventual dialogue with the US administration. With Trump saying that countries are kissing my ass to negotiate trade deals on his terms or risk stiff import taxes, Beijing is reaching out to countries

China's trade, economy tsar steps into spotlight amid Trump tariffs

China has repeatedly denied that tariff-related negotiations were ongoing, though on Friday it exempted some US goods from its retaliatory tariffs