24 April 2018

Macro Economy

  • China’s list of US exports includes soybeans and other key agricultural commodities produced in states from Iowa to Texas that voted for Donald Trump in the 2016 presidential election. Photo: Reuters

    China fires back at US, slaps duties on soybeans, planes

    Apr 4, 2018 5:55pm
    China quickly hit back on Wednesday at Trump administration plans to slap tariffs on US$50 billion in Chinese goods, retaliating with a list of similar duties on key US imports including soybeans, planes, cars, whiskey and...
  • Chinese Finance Minister Liu Kun spent most of his career as a local government fiscal official. Photo: Reuters

    Rising chance of fiscal reform in China

    - Apr 4, 2018 4:17pm
    The National People’s Congress concluded last month and among the many historic changes, it’s the minor changes that might end up being more impactful for investors. Despite significant airtime given to proposed efforts around financial de-risking,...
  • China’s gains still come largely from adoption of Western technology, and in some cases, appropriation of intellectual property. Photo: Reuters

    Will China really supplant US economic hegemony?

    - Apr 4, 2018 9:53am
    As China and the United States engage in their latest trade tussle, most economists take it as given that China will achieve global economic supremacy in the long run, no matter what happens now. After all,...
  • The US tariffs are proposed in response to China's policies that bolster its “stated intention of seizing economic leadership in advanced technology as set forth in its industrial plans, such as 'Made in China 2025'.” Photo: AFP/Gov.CN

    US unveils tariffs on US$50 billion worth of Chinese imports

    Apr 4, 2018 7:22am
    The United States announced 25 percent tariffs on some 1,300 industrial technology, transport and medical products to try to force changes in Beijing’s intellectual property practices. The US Trade Representative’s office unveiled a list of mainly...
  • US President Donald Trump and Chinese President Xi Jinping in Beijing in 2017. Retaliatory steps taken by China against the US are stoking fears of a full-blown trade war between the world's two biggest economies. Photo: AFP

    Trade tensions worsen as China raises tariffs on US goods

    Apr 3, 2018 7:28am
    China has increased tariffs by up to 25 percent on 128 US products, from frozen pork and wine to certain fruits and nuts, in an apparent response to US duties on imports of aluminum and steel,...
  • China may enjoy a huge trade surplus with the US, but American companies and consumers, too, gain from the China trade. Photo: Reuters

    Why a China-US trade war will hurt both

    - Mar 27, 2018 1:14pm
    If China and the US fail to resolve their trade dispute, we could witness the ultimate battle between the world’s two largest economies. The hi-tech industry will be a focal point of any future trade war,...
  • US Trade Representative Robert Lighthizer is among those who are said to be involved in backroom discussions with Chinese officials to resolve a trade dispute between the two sides. Photo: Reuters

    US seeks China trade moves on autos, semiconductors: report

    Mar 27, 2018 9:11am
    US officials are asking China to cut tariffs on imported cars, allow foreign majority ownership of financial services firms and buy more American-made semiconductors, according to Reuters. The requests come as the two sides negotiate behind...
  • US President Donald Trump holds up his  memorandum ordering tariffs on Chinese goods in a signing ceremony at the White House in Washington on Thursday. Photo: Reuters

    Trump’s anti-China tariffs seen as warning shot in trade row

    Mar 23, 2018 7:40am
    US President Donald Trump launched long-promised anti-China tariffs, but his actions appeared to be more of a warning shot than the start of a full-blown trade war with Beijing. A presidential memorandum signed by Trump will...
  • US Trade Representative Robert Lighthizer said the tariffs would target China’s high technology sector and could also include restrictions on Chinese investments in the United States. Photo: AFP

    Trade war fears grow as US set to announce China tariffs

    Mar 22, 2018 9:45am
    US President Donald Trump is scheduled to sign a memo at 12:30 p.m. EDT on Thursday (12:30 a.m. Friday in Hong Kong) imposing tariffs on Chinese imports in a move aimed at curbing theft of US technology,...
  • Federal Reserve chairman Jerome Powell indicated that inflation should finally move higher after years below its 2 percent target and that the economy had recently gained momentum. Photo: Reuters

    Fed lifts rates, signals tougher stance as economy strengthens

    Mar 22, 2018 7:49am
    The US Federal Reserve raised interest rates and forecast at least two more hikes for 2018, highlighting its growing confidence that tax cuts and government spending will boost the economy and inflation. In its first policy...
  • Several large US retailers, including Wal-Mart, have written a letter to Donald Trump urging him not to impose massive tariffs on goods imported from China. Photo: Bloomberg

    Trump’s China tariffs may be unveiled by Friday: report

    Mar 20, 2018 9:33am
    The Trump administration is expected to unveil up to US$60 billion in new tariffs on Chinese imports by Friday, targeting a range of items including technology and telecoms products, Reuters reports, citing unidentified officials briefed on...
  • Newly elected Vice Premiers (from left) Hu Chunhua, Han Zheng, Sun Chunlan and Liu He take their oaths of office at the National People's Congress at the Great Hall of the People in Beijing on Monday. Photo: Reuters

    Xi confidante Liu He named vice premier; Yi Gang is PBoC chief

    Mar 19, 2018 12:22pm
    The National People’s Congress, China’s parliament, elected Liu He, a key economic adviser to President Xi Jinping, as vice premier, while vice central bank governor Yi Gang was chosen to take over the helm at the People’s...
  • US business groups warned in a letter to Donald Trump that tariffs on China will not be in the interests of American consumers or the broader economy. Photo: Reuters

    US trade groups urge Trump to avoid tariffs against China

    Mar 19, 2018 10:03am
    Forty-five trade associations representing some of the largest firms in the United States have urged US President Donald Trump not to impose tariffs on China, saying the move will hurt the American economy and consumers. The...
  • Tariffs are the wrong approach to dealing with problems related to China's industrial policies and trade practices, US Chamber of Commerce President Thomas Donohue told the Trump administration. Photo: Bloomberg

    US business lobby group warns Trump against China tariffs

    Mar 16, 2018 8:41am
    The US Chamber of Commerce warned the Trump administration that unilateral tariffs on Chinese goods could lead to a destructive trade war that will hurt American consumers and US economic growth. The chamber’s president, Thomas Donohue, said...
  • The United States is stepping up pressure on China to reduce trade imbalance between the two nations. Photo: Bloomberg

    US wants China to cut trade surplus by US$100 bln: White House

    Mar 15, 2018 9:14am
    The United States is pressing China to cut its trade surplus with the former by US$100 billion, a White House spokeswoman said on Wednesday, clarifying a tweet last week from President Donald Trump. Last Wednesday, Trump...
  • The US tariffs would be chiefly targeted at information technology, consumer electronics and telecoms, but they could be much broader and the list could eventually run to 100 products. Photo: Bloomberg

    Trump seeking tariffs on up to US$60 bln Chinese goods: report

    Mar 14, 2018 9:09am
    US President Donald Trump is seeking to impose tariffs on up to US$60 billion of Chinese imports and will target the technology and telecommunications sectors, Reuters reports, citing two people who had discussed the issue with...
  • Roberto Azevedo, Director-General of the WTO, gestures during a news conference in Brasilia on Monday. Photo: Reuters

    Trump tariff move could spark trade wars that will hurt all: WTO

    Mar 13, 2018 9:08am
    US President Donald Trump’s decision on steel and aluminum tariffs could spark retaliation from other nations and lead to unforeseen consequences, the head of the World Trade Organization (WTO) warned on Monday. “You know when it...
  • In his Work Report, Premier Li Keqiang signaled less policy support by lowering the fiscal deficit target to 2.6 percent from 3 percent in 2017. Photo: Bloomberg

    China: Tighter policy and stable growth?

    - Mar 9, 2018 3:42pm
    China kicked off its annual liang hui this week, the twin meetings of the Chinese People’s Political Consultative Conference and the National People’s Congress that aim to set policy priorities over the coming year. Given the momentous...
  • Two leading industry bodies in China urged the government to take “resolute measures” against US imports ranging from stainless steel to coal and electronics. Photo: Reuters/China Daily

    China metal producers urge Beijing to retaliate on US tariffs

    Mar 9, 2018 12:31pm
    China’s steel and metals associations on Friday urged Beijing to retaliate against US tariffs on aluminum and steel imports. In the most explicit threat yet in an escalating trade spat, two leading industry bodies said producers strongly...
  • US President Donald Trump shows proclamation imposing tariffs on steel and aluminum imports following the signing ceremony at the White House in Washington on Thursday. Photo: Reuters

    Trump sets steel and aluminum tariffs; Mexico, Canada exempted

    Mar 9, 2018 8:07am
    President Donald Trump pressed ahead with the imposition of 25 percent tariffs on steel imports and 10 percent for aluminum but exempted Canada and Mexico. Describing the dumping of steel and aluminum in the United States...

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