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China says it will immediately retaliate when Trump tariffs take effect

Donald Trump the campaigner talked tough on China: He threatened to slap tariffs of 45% on Chinese exports, and promised to label Beijing a "currency manipulator."Full credit: Ian Berry/CNNMoney/Shutterstock

BEIJING:Beijing will immediately launch retaliatory tariffs when President Trump’s new duties on $200 billion in Chinese imports take effect next week, a move the government said Tuesday it “deeply” regrets. China has previously warned it will strike back with levies on an additional $60 billion in American goods following Trump’s escalation of the trade war, effectively slapping tariffs on almost ... Read More »

Trump will slap 10% tariffs on $200 billion in Chinese goods — and they will go to 25% at year-end


President Donald Trump will impose 10 percent tariffs on $200 billion worth of Chinese imports, and those duties will rise to 25 percent at the end of the year. The action, announced by the Trump administration Monday, escalates a trade conflict between the world’s two largest economies. China has already threatened to retaliate against new duties. The White House removed ... Read More »

Chinese official: Beijing should target goods needed by US


One of China’s most prominent figures in global finance says Beijing should press Washington to end their tariff battle by clamping down on exports of goods needed by American companies, according to news reports Monday. The comments by Lou Jiwei, a former finance minister and chairman of China’s sovereign wealth fund, follow reports regulators are squeezing American companies by slowing ... Read More »

Tariff hikes won’t address U.S. trade deficit: MOC

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US:The United States’ unilateral measure of imposing additional tariffs won’t solve its trade deficit issue, a spokesperson for China’s Ministry of Commerce (MOC) said Thursday. The widening or narrowing of the trade surplus or deficit is decided by the market, MOC spokesperson Gao Feng said at a press conference in response to a question on China’s widened trade surplus with ... Read More »

China: US asks to resume trade talks


BEIJING:Washington has invited Beijing to hold new talks on their escalating tariff dispute, the Chinese foreign ministry said Thursday, ahead of a decision by President Donald Trump on whether to raise duties on $200 billion of Chinese imports. The announcement followed reports by American and European chambers of commerce that foreign companies in China have been hurt by earlier tariff ... Read More »

Amid trade row, China to allow soybean imports from Ethiopia

A worker looks on as imported soybeans are transported at a port in Nantong, Jiangsu province, China August 6, 2018. REUTERS/Stringer

BEIJING:China will start allowing soybean imports from Ethiopia, customs authorities said on Friday, as the world’s top importer seeks to reduce its reliance on supplies of the oilseed from the United States amid a trade row with Washington. The move would diversify soybean imports origins for China, and help meet domestic demand, the General Administration of Customs said in a ... Read More »

China’s Hangzhou Customs sent back 3,200 tonnes of waste paper in past month


China:A total of 3,200 tonnes of waste paper has been rejected and sent back to its country of origin by Hangzhou Customs in the past month. This has been done on behalf of Huzhou Customs. Up to 6 September, customs officials at Chinese ports had rejected 14 batches of waste paper. One of the largest of these returned shipments was ... Read More »

Customs shuts down Bulacan warehouse containing smuggled rice from China


MARILAO, Bulacan: Bureau of Customs personnel sealed off a warehouse in an industrial compound here on Friday dawn for concealing an undetermined amount of smuggled rice. Senior Supt. Chito Bersaluna, Bulacan police director, said the team led by Alvin Encino of the Customs Intelligence and Investigation Service, padlocked the Evergreen Warehouse inside the compound of Federal Corporation (Fedcor) shortly after ... Read More »

Customs office in Tatopani could start in one year


The Tatopani Customs at Nepal-China border in Sindhupalchok that has been shut following the devastating earthquake on April 25, 2015 could start official work as early as next year as China continues to pump investment into rebuilding the damaged infrastructure, Nepali officials said on Tuesday. Government officials from the two countries involved in a recent field study of the bordering ... Read More »

China customs clearing 70,000-tonne US soybean cargo


BEIJING: A vessel carrying US soybeans, Peak Pegasus, has declared its cargo to customs as it unloads its 70,000-tonne shipment, a spokesman for General Administration of Customs said on Monday. The process of clearing the cargo through customs is “ongoing”, he said. He declined to comment on whether the shipment will incur the extra duties imposed on US imports last ... Read More »

Japan’s trade with China is booming, but irreconcilable differences persist


China:On the face of it, the idea of hostility between the two East Asian neighbors is sharply at odds with excellent trade numbers and Japan’s unrelenting efforts to keep open the bilateral flows of commerce and finance. Here is the latest: The Japanese sold to China 35.2 percent of all the goods they dumped on the rest of Asia in ... Read More »

Customs surety insurance to help lower costs for SMEs

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China:The Beijing Customs District under the General Administration of Customs of China will introduce customs surety insurance from Sept. 1, as part of its ongoing efforts to lower costs for small and medium-sized enterprises and improve efficiency. “The new insurance scheme has been developed by the customs agency and an insurance company. It is the first time that the customs ... Read More »

Demand for Imported Food Growing Steadily


CHINA:Chinese consumers’ demand for imported food has been growing steadily as the standard of living in China improves, according to a statement from the General Administration of Customs. China’s total food imports amounted to $58.3 billion last year, up by 25 per cent year-on-year, while the annual average growth rate over the previous five years was 5.7 per cent, data ... Read More »

China produces first fuel oil through blending in Zhejiang FTZ


Singapore:China’s oil storage and transportation company Sinochem-Xingzhong Oil Staging, or Zhoushan, has become the first in the eastern Zhejiang province’s free trade zone to produce fuel oil by blending two different imported oils, market sources said this week. The fuel oil produced via blending meets wider specifications, including the 0.5% sulfur cap that will come into effect from 2020. From ... Read More »

As US-China Trade War Ramps Up, 2 Shops Join Forces


Shanghai:Chinese firm Global Law Office has agreed to merge with a Shanghai-based trade and customs boutique amid a continuing escalation of a brewing trade war between the U.S. and China. On Sept. 1, HaoLiWen Partners will merge with the Global Law Office. The Shanghai shop, which also has offices in Beijing and Dublin, was founded in 2003. A full-service firm, ... Read More »

EU appears committed to progress via cooperation – NAB


China:Gerard Burg, Senior Economist at NAB, explains that the sheer scale, and growth, of China’s trade surplus with the United States is one of the key drivers of the current trade tensions between the countries, but it is worth noting China’s trade with other regions – most notably the European Union – does not exhibit the same trends as those ... Read More »

Trade war puts new strains on America Inc’s factories in China


China: Larry Sloven arrived in southern China three decades ago, just as the region was taking off as the low-cost manufacturing center of the world. Since then, he has exported millions of dollars of goods, ranging from power tools to LED lights, to some of America’s biggest retailers. That era may now be coming to an end. For years, Sloven ... Read More »

Australia’s Treasury Wine toasts record profit, China custom delays ease


China:Australia’s Treasury Wine Estates Ltd , the world’s biggest listed winemaker, posted a forecast-beating record annual profit on Thursday as customs delays in China eased, offsetting sluggish U.S. sales. The result suggests the company’s problems in getting Australian products past Chinese docks have been a blip in its seemingly unstoppable push into the mainland market, rather than a protracted crisis ... Read More »

U.S. and China to resume trade talks amid tariff battle

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China:U.S. and Chinese officials said the two nations will resume lower-level trade talks this month in hopes of resolving an escalating battle over tariffs that threatens to damage both economies. At the invitation of the Trump administration., China’s vice commerce minister, Wang Shouwen, will lead a delegation traveling to the U.S. late this month to discuss “economic and trade issues ... Read More »

U.S finalizes next China tariff list targeting $16b in imports


Washington:The United States will begin collecting 25 percent tariffs on another $16 billion (1.8 trillion yen) in Chinese goods on Aug. 23, the U.S. Trade Representative’s office said on Tuesday as it published a final tariff list targeting 279 imported product lines, Reuters reports. The action is the latest by U.S. President Donald Trump to put pressure on China to ... Read More »