Page 31 - Us China Trade War

US Congress bars Pentagon from utilising Chinese port logistics platform

The US Congress has approved a measure prohibiting the Pentagon from using any seaport worldwide reliant on the Chinese logistics platform LOGINK, the Voice of America (VOA) reported

Janet Yellen to visit China again in 2024, to focus on 'difficult' topics

Yellen emphasized the importance of using her exchanges with China to gather information about the world's second-largest economy

House panel urges tougher rules for China, raising chance of more tariffs

A special House committee focused on China is calling for altering the way the US treats Chinese-made goods, possibly subjecting them to higher tariffs even if its risks increased tensions between the two economic superpowers. The report does not specifically call for repealing China's preferential trade status, but it does recommend placing China in a new trading category that some liken to a de facto repeal. The committee's chairman said he envisions a process where Congress would determine regularly which economic sectors would be subject to higher tariffs and which would see lower tariffs. Lawmakers in both parties endorsed the proposal, a reflection of the growing willingness in Congress to build on the tariffs enacted during Donald Trump's presidency, even if it risks retaliatory actions from China that would harm many farmers, ranchers and US exporters. The committee crafted the recommendation after several months of deliberation and hearings. Members hope that the nearly 150

Joe Biden, Xi Jinping have far to go if they want to lift cold war clouds

After four hours of talks on Wednesday, the US and Chinese presidents offered a glimpse of just how hard it's going to be to manage their relationship away from that course.

APEC summit: China courts Indo-Pacific leaders amid stiff US competition

Chinese President Xi Jinping, fresh off his meeting with President Joe Biden, courted Indo-Pacific leaders in a flurry of meetings on Thursday at a time of intensifying competition with the United States. Xi held individual talks with the leaders of Mexico, Peru, and Fiji, and he planned a later session with Japanese Prime Minister Fumio Kishida, all on the sidelines of a summit of Asia Pacific Economic Cooperation economies. In a meeting with Peruvian President Dina Boluarte, Xi said the two countries should strengthen economic and trade cooperation and pledged China's support for Peru as host of next year's summit of APEC leaders. In particular, Xi said, China will be willing to import more premium agricultural products from the South American country and will encourage Chinese businesses to participate in major projects in Peru. Earlier, Xi held talks with Andres Manuel Lopez Obrador, praising the Mexican president for his leadership and reform efforts and pledging to bring the

US moves to limit access to advanced chips hurt supply chains: China

China vigorously protested Wednesday the US Commerce Department's latest update of export controls to prevent exports to China of advanced computer chips and the equipment to make them. The revisions to the US rules were announced Tuesday, roughly a year after the export controls were first launched to counter the use of the chips for military applications that include the development of hypersonic missiles and artificial intelligence. China's Commerce Ministry said the controls were improper and urged that Washington lift them as soon as possible. It said that since the semiconductor industry is highly globalised, the restrictions on chips used for artificial intelligence and other advanced applications were hindering normal trade and economic activities. They violate international trade rules and seriously threaten the stability of industrial supply chains, it said according to a transcript of a briefing on the ministry's website. US semiconductor companies have suffered huge lo

China challenging US superpower status is 'not inevitable': Xi Jinping

Chinese President Xi Jinping on Monday told a delegation of influential American senators that the Thucydides Trap is not inevitable as he played down the concerns in Washington that China is out to challenge the superpower status of the US. Thucydides Trap is a term to describe an emerging power threatening to displace the existing great power. Competition and confrontation are not consistent with the trend of the times. Still less can it fix one's own problems and address the challenges facing the world, Xi told a US Senate delegation headed by Senate Majority Leader Chuck Schumer during a meeting. China maintains that the common interests of the two countries far outweigh their differences, and the respective success of China and the US is an opportunity, rather than a challenge, to each other, Xi told the six-member delegation of top American legislators. "The Thucydides Trap is not inevitable, and Planet Earth is vast enough to accommodate the respective development and common

US approves new $500 mn arms sale to Taiwan as tension from China surges

The Biden administration has approved a $500 million arms sale to Taiwan as it ramps up military assistance to the island despite fervent objections from China. The State Department said Wednesday it had signed off on the sale of infrared search tracking systems along with related equipment for advanced F-16 fighter jets. The sale includes the infrared systems as well as test support and equipment, computer software and spare parts, it said. Although the deal is modest in comparison to previous weapons sales, the move is likely to draw fierce criticism from Beijing, which regards self-governing Taiwan as a renegade province and refuses to rule out the use of force to reunify it with the mainland. This proposed sale serves U.S. national, economic, and security interests by supporting the recipient's continuing efforts to modernize its armed forces and to maintain a credible defensive capability, the State Department said in a statement. "The proposed sale will improve the recipient'

Russia, China look to gain upper hand at BRICS summit in South Africa

Russia and China will look to gain more political and economic ground in the developing world at a summit in South Africa this week, when an expected joint dose of anti-West grumbling from them may take on a sharper edge with a formal move to bring Saudi Arabia closer. Leaders from the BRICS economic bloc of Brazil, Russia, India, China and South Africa will hold three days of meetings in Johannesburg's financial district of Sandton, with Chinese premier Xi Jinping's attendance underlining the diplomatic capital his country has invested in the bloc over the last decade-and-a-bit as an avenue for its ambitions. Russian President Vladimir Putin will appear on a video link after his travel to South Africa was complicated by an International Criminal Court arrest warrant against him over the war in Ukraine. Brazilian President Luiz Incio Lula da Silva, Indian Prime Minister Narendra Modi and South African President Cyril Ramaphosa will be at the summit alongside Xi. The main summit on

US, Japan, S Korea denounce 'dangerous and aggressive actions' by China

The three nations expressed commitment to expanding cooperation trilaterally and raising shared ambition to a new horizon across domains and across the Indo-Pacific and beyond

China's investment firm misses payments amid concerns of financial crisis

The scale of payments missed exceeded 110 million yuan ($15 million), according to their statements

China's economic slowdown a 'risk factor' for US Economy: Janet Yellen

"That said, I feel very good about US prospects overall. Let's call that a risk," she said, referring to China

US may respond to consequences for China due to tech export curbs: Yellen

Treasury Secretary Janet Yellen on Sunday said she agreed Washington will listen to Chinese complaints about security-related curbs on US technology exports and might respond to unintended consequences as she ended a visit to Beijing aimed at reviving strained relations. Yellen defended targeted measures" on trade that China's leaders complain are aimed at hurting its fledgling tech industries. She said the Biden administration wants to avoid unnecessary repercussions" but gave no indication of possible changes. Relations between the two biggest economies are at their lowest level in decades due to disputes about technology, security and other irritants. A key Chinese complaint is limits on access to processor chips and other US technology on security grounds that threaten to hamper the ruling Communist Party's development of smartphones, artificial intelligence and other industries. We will open up channels so that they can express concerns about our actions, and we can explain a

China flags supply chains, population as top priorities for new policies

China has become increasingly alert to supply chain security risks amid a US push to cut it off from advanced chip technology. Adding to it, its population has shrunk signaling a demographic crisis

China-Taiwan conflict, former warns self-ruled island against ties with US

China warned against continued U.S.-Taiwan cooperation Wednesday, responding to reports that the U.S. military was sending officers to help train Taiwan's counterparts and that a delegation of defense contractors would visiting the self-ruled island next week. We resolutely oppose the U.S. having any form of official or military contact with China's Taiwan region, Zhu Fenglian, spokeswoman for China's Taiwan Affairs Office, said at a weekly press briefing in Beijing. Taiwan and China split in 1949 after a civil war. Taiwan never has been part of the People's Republic of China, but the Communist Party says it is obliged to unite with the mainland, by force if necessary. President Xi Jinping's government has flown fighter jets and bombers near Taiwan in increasing numbers and fired missiles into the sea in an attempt to intimidate the island. Taiwanese media reported this month that the U.S. had sent 200 military personnel, mostly Marines, to help train Taiwan troops. Taiwan's Defens

Biden Admin framing new rules to stop US investments in Chinese tech firms

People aware of the developments have said that the programme is likely to cover private equity and venture capital investments in advanced semiconductors, quantum computing, among others

US ban on Chinese apps including TikTok a sign of its insecurity: China

U.S. government bans on Chinese-owned video sharing app TikTok reveal Washington's own insecurities and are an abuse of state power, a Chinese Foreign Ministry spokesperson said Tuesday. The U.S. government has been overstretching the concept of national security and abusing state power to suppress other countries' companies," Mao Ning said at a daily briefing. How unsure of itself can the U.S., the world's top superpower, be to fear a favourite young person's favourite app to such a degree? TikTok is used by two-thirds of American teens, but there's concern in Washington that China could use its legal and regulatory powers to obtain private user data or to try to push misinformation or narratives favoring China. Congress and more than half of U.S. states have so-far banned TikTok from government-issued mobile devices. Some have also moved to apply the ban to any app or website owned by ByteDance Ltd., the private Chinese company owning TikTok that moved its headquarters to Singap

China chips ban: Why US wants S Korea, Japan and the Netherlands on board

The US rolled out sweeping measures in October to limit the sale of advanced semiconductors and chipmaking equipment to China

Global economy may be entering a difficult era and economists are worried

The warnings of longer-term trouble come as investors are growing somewhat more hopeful of the Federal Reserve's ability to rein in sky-high inflation without causing a recession

US speeds up timeline in delisting threat for Chinese firms over audits

China and the US had been at odds over the issue for years, with Beijing citing national security concerns in opposition