Wednesday , September 18 2019
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Persistent U.S. Business Group Seeks Better China Ties With New Silicon Valley Office


It was nearly a month ago that President Donald Trump called on American companies to leave China. Many U.S. businesses, however, continue to see the country as a growth market despite trade tensions, so much so that the American Chamber of Commerce in Shanghai on Friday will open up its first San Francisco office to help facilitate exchange. Many members ... Read More »

U.S. strike against GM threatens Canadian plants


As 49,000 United Auto Workers in the U.S. strike against General Motors, there’s a risk the walkout could shut down GM Canada’s plants and auto-parts makers in Ontario. GM Canada says it is monitoring the situation closely for any impact to Canadian operations. The North American auto industry is highly integrated, with assembly plants here in Canada reliant on parts ... Read More »

China grants tariff exemptions to 16 types of US goods ahead of trade war talks


China on Wednesday unveiled a list of 16 types of products that will be exempt from the first round of additional tariffs on US imports as the two sides prepare for their latest trade talks. The exemption will take effect on Tuesday and remain in place until September 16, 2020, the Customs Tariff Commission of the State Council said in ... Read More »

A slowdown in U.S. business formation poses a risk to economy


WASHINGTON : Despite a decade-plus of economic growth, Americans have slowed the pace at which they’re forming new companies, a trend that risks further widening the gap between the most affluent and everyone else. The longest expansion on record, which began in mid-2009, has failed to restore entrepreneurship to its pre-recession levels, according to a Census Bureau report based on ... Read More »

Changes in China’s Purchasing and Import Trends between 2019 and 2024


One aspect of the US-China trade war little commented on is the US$179 billion worth of goods that China purchased from the US in 2018. While much of the trade dispute talk has been on the amount that the US has been buying from China (US$557.9 billion) and the size of the trade deficit (US$378.6 billion), the smaller amount – ... Read More »

China to implement additional customs tariffs on US imports worth 75 billion USD


The State Council Custom Tariff and Tax Committee announced on August 23rd, 2019, their decision to raise the custom tariffs on US import products worth 75 billion USD. At the same time the committee decided to resume the custom tariffs on US cars and spare parts. The US government previously announced on August 15th, 2019, their decision to raise the ... Read More »

Trump says Russia might be invited to next year’s G7 Summit, though other leaders disagree


President Donald Trump said it is “certainly possible” that Russian President Vladimir Putin could be invited to next year’s Group of Seven Summit, though other member nations seemed to disapprove. Trump’s comment Sunday came after he repeatedly touted support for the move. The same day the world leaders convened at the summit in southwest France, European Council President Donald Tusk ... Read More »

Trump Claims G-7 ‘Unity’ on Iran After Unannounced Invite


BIARRITZ, France (AP) — U.S. President Donald Trump said he gave his approval for Iran’s top diplomat to make an unannounced appearance on the margins of the G-7 summit, denying Monday that he was surprised or angered and claiming “unity” with the other leaders. French President Emmanuel Macron’s invitation to Iranian Foreign Minister Mohammad Javad Zarif was a bold gamble ... Read More »

China threatens ‘countermeasures’ on trade, without saying more


BEIJING — China is still short on details on how it will respond to new U.S. tariffs on Chinese goods. “If the U.S. obstinately clings to its own way, China has no choice but to take corresponding countermeasures,” Ministry of Commerce Spokesman Gao Feng said Thursday in Mandarin, according to a CNBC translation. “The U.S. should change its wrong actions.” ... Read More »

China warned it should not pin its hopes on Russian soybeans plugging supply gap caused by US trade war


Russian soybean exports to China are likely to remain low for the next few years, an agricultural specialist has warned, suggesting that amount produced will not be enough to provide a real alternative to the United States. China suspended purchases of US soybeans and other farm products this month after US President Donald Trump threatened to impose more tariffs on ... Read More »

Iranian Tanker Leaves Gibraltar Over U.S. Objections


LONDON—The Iranian tanker impounded by Gibraltar sailed out of the British overseas territory on Sunday over the objections of the U.S., a Gibraltar official said, raising hopes that Iran would reciprocate and release a British-flagged tanker in the Persian Gulf. The ship, renamed the Adrian Darya 1 and given an Iranian flag, left Gibraltar’s waters around 11 p.m. local time ... Read More »

South Korea imports more U.S. oil in July as Iran shipments on hold

A two-mile Canadian Pacific train loaded with oil tank cars idles on a track in Enderlin, North Dakota, November 14, 2014.  REUTERS/Ernest Scheyder

SEOUL : South Korea’s oil imports from the United States and the United Arab Emirates jumped in July, with Iranian shipments remaining at zero for a third month due to U.S. sanctions, customs data showed on Thursday. South Korea, typically one of Tehran’s major Asian oil customers, halted importing Iranian crude from May after the U.S. government announced an end ... Read More »

US economy ‘handcuffed’ by Fed: Trump


WASHINGTON: US President Donald Trump called on the Federal Reserve to lower interest rates by a full percentage point, saying the nation’s economy was being “handcuffed” by the US central bank’s monetary policy. Trump, speaking to reporters at the White House, said a strong US dollar was hurting American manufacturers and that the Fed needed to lower rates further despite ... Read More »

Trump says US is not going to do business with Huawei, not ready to make a trade deal with China


President Donald Trump said on Friday the U.S. is done doing business with Chinese telecom giant Huawei as the trade war continues to escalate. “We are not going to do business with Huawei… And I really made the decision. It’s much simpler not doing any business with Huawei…That doesn’t mean we won’t agree to something if and when we make ... Read More »

US commerce secretary to visit Turkey in September


A U.S. delegation led by the commerce secretary will visit Turkey in September, said the Turkish trade minister on Aug. 5 on Twitter. Underlining that they had a “fruitful conversation” with Wilbur Ross on the phone, Ruhsar Pekcan said: “During that conversation we have reached a consensus about Secretary’s visit to Turkey with a delegation of business people at the ... Read More »

Trump’s China tariffs – Paid by U.S. importers, not by China


CHICAGO : With U.S. President Donald Trump’s announcement on Thursday of tariffs on another $300 billion of Chinese imports, nearly all goods from China will be subject to import taxes, and Trump says they generate billions of dollars in revenues for the U.S. Treasury from China. But that is not how tariffs work. China’s government and companies in China do ... Read More »

U.S. Customs raiding Canadian pharmacies?

retail pharma

Forget, if you can, the boorish, imperial arrogance of an initiative announced Wednesday by U.S. Secretary of Health and Human Services Alex Azar that would permit Americans to raid the Canadian drug cabinet for medications that are far less expensive here than in the U.S. Ignore, if you can, the irony of a U.S. administration that cavils against immigrant caravans ... Read More »

US imports more samarium-cobalt magnets from Malaysia and Philippines


BEIJING: China’s exports of rare earth magnets to the United States fell 3.9% in June from the previous month, customs data showed on Saturday, as concerns persist that Beijing will curb supply of rare earth products as part of its trade war with Washington. The latest data came after U.S. President Donald Trump on Monday told the Pentagon to find ... Read More »

America’s $300 million push to expand naval facilities in northern Australia


The United States military is preparing to spend more than a quarter of a billion dollars on naval construction in the Northern Territory, in a move that could raise tensions with China. According to the Senate’s annual defence legislation, tabled in June, the “Secretary of the Navy may acquire real property and carry out military construction projects for the installations ... Read More »

China’s Still Taking Iran Oil Weeks After U.S. Toughens Sanction


China’s still importing oil from Iran weeks after the U.S. imposed sanctions aimed at halting sales of crude from the Persian Gulf nation. Official customs data on Friday showed China imported 855,638 tons in June, the equivalent of about 209,000 barrels a day. While that’s less than in May and the lowest since mid-2010, the data adds to speculation that ... Read More »