China and US agree to push forward trade and investment ties
BEIJING: Commerce ministers from China and the United States have agreed to push forward trade and investment links in their first call since the start of the Biden administration.
The two “exchanged views frankly and pragmatically on relevant issues and mutual concerns, ” according to a Chinese government statement.The two nations are slowly resuming official contact after the January change of administration in the United States.
Some parts of US policy toward China are becoming clearer, but it’s still not publicly clear what the US plans to do with the “phase one” trade deal signed last year or tariffs on Chinese goods.The call was the third between senior officials in recent weeks, after vice premier Liu He spoke with US Trade Representative Katherine Tai and Treasury secretary Janet Yellen. The US Commerce Department did not respond to a request for more details on the call.
Stocks rose across Asian markets and the region’s currencies posted modest gains versus the dollar after the news. The CSI 300 Index gained about 1.1% in the morning trading session.China last week stated that normal communications between the two countries have started, according to Commerce Ministry spokesman Gao Feng. headtopics.com
“The two sides have agreed to pragmatically solve some issues for producers and consumers, and promote healthy, stable economic and trade ties, ” he said.However, US statements on the relationship with China aren’t so positive.The trade relationship with China has “significant imbalance” and the Biden administration is committed to leveling it, trade representative Katherine Tai said on the weekend before a meeting of Asia-Pacific trade ministers.There are parts of the US-China relationship “that are unhealthy and have over time been damaging in some very important ways to the US economy, ” she said.
“I won’t get overly excited” about the call, said Alvin Tan, head of Asia currency strategy at RBC Capital Markets LLC.“It’s positive in the sense that both countries are stepping up” economic and trade communication, but no game-changing decisions or announcements have come out, he said.
Tai will talk with her Taiwanese counterpart, as soon as today, the Wall Street Journal reported earlier. The two sides will soon discuss “some kind of framework agreement, ” secretary of state Tony Blinken said earlier this week.However, China opposes any official contact between the United States and Taiwan, which it regards as part of its territory, and any negotiations or discussions will inevitably be linked with US-China relations, and could increase the tensions between the two. — BloombergRead more: The Star »
King disappointed Emergency Ordinances revoked without his consent
PUTRAJAYA: Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah has expressed great disappointment with the government’s decision to revoke six Emergency Ordinances without his consent.
China, US commerce chiefs to cooperate on handling differences, says Beijing | Malay MailSHANGHAI, June 10 ― Top US and Chinese commerce officials spoke by telephone and agreed to promote healthy trade and cooperate over differences, China 's commmerce ministry said today, the latest high-level exchange as the countries spar over disagreements. Both sides recognise the importance of...
US senator slams Apple, Amazon, Nike, for enabling forced labour in China | Malay MailWASHINGTON, June 11 — A US senator on Thursday slammed American companies, including Amazon.com Inc, Apple Inc and Nike Inc, for turning a blind eye to allegations of forced labour in China , arguing they were making American consumers complicit in Beijing’s repressive policies. Speaking at a...
China slams US' 'paranoid delusion' over innovation billIt follows Washington's passing of the law to counter Beijing's economic threat. FMTNews Thanks to China for telling us they are afraid of this bill and passing it was a good idea.
US defence chief tells Pentagon to sharpen focus on ChinaOperations over the past two decades have concentrated mostly on Middle East insurgents. FMTNews 😄😄😄...with China? Good luck! Dari MENA ke ASEAN, apa agaknya agenda US 🤔 And what a Gr8 job you did in the Middle East. 🤦🏿♂️ Stay out of Asia. We don't want your war mongering here.
US defence chief tells Pentagon to sharpen focus on China | Malay MailWASHINGTON, June 10 — US Defence Secretary Lloyd Austin directed the Pentagon on Wednesday to sharpen its focus on China , which the United States has tagged as its top strategic rival. “Now, it is up to the Department to get to work,” Austin said after issuing an internal directive to the...
Australia PM to press G7 on trade rules reform to rein in China | Malay MailSYDNEY, June 9 — An overhaul of global trade rules is essential to stopping economic coercion, Australian Prime Minister Scott Morrison was expected to say today, in comments aimed at China ahead of his meeting with G7 leaders. As Australia’s shadow trade war with its largest trading partner... When Australia cannot compete with China, call in the Gang to help confront her competitor. Sore Loser...