10 h. ago Can Scott Bessent see China’s trade counterstrike with clear eyes?

After a video call last Saturday, US Treasury Secretary Scott Bessent and Chinese Vice-Premier He Lifeng are expected to meet in Malaysia this week to hopefully ease tensions before US President Donald Trump and President Xi Jinping potentially meet on the sidelines of this year’s Apec summit. The meeting was in doubt when Trump threatened to impose an additional 100 per cent tariff on China, despite later relenting that it might not be sustainable. Washington blamed Beijing for the escalation,...

Events

13 h. ago Malaysia’s illegal firework trade under fire as ‘coconut’ explosive injures 22

What should have been an evening of light and celebration to mark Diwali in Malaysia descended into chaos on Monday after a fireworks blast injured 22 people, reigniting concerns over lax enforcement of a ban on high-powered explosives. The explosion in Kulim, northern Kedah state, left one man with a fractured skull while others suffered burns and broken bones, police said. Unconfirmed local media reports said other injuries included severed fingers and permanent hearing loss. Kulim district...

Events

41 h. ago Hong Kong stocks surge on trade optimism, China economic growth

Hong Kong stocks rallied on Monday, rebounding from Friday’s steepest loss since April as US-China trade tensions showed signs of easing and China’s economic growth exceeded expectations. The Hang Seng Index jumped 2.4 per cent to 25,853.08 as of 11am. The Hang Seng Tech Index surged 3.1 per cent. On the mainland, the CSI 300 Index rose 1.2 per cent and the Shanghai Composite Index added 0.9 per cent. NetEase jumped 5.2 per cent to HK$235.40, insurance giant AIA Group added 4.3 per cent to HK$72...

Economics

3 d. ago Top US and China envoys set trade talks after ‘constructive’ phone call

Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent held a phone call on Saturday morning and stated that trade negotiators from their countries would meet next week. “This evening, Vice-Premier He Lifeng and I engaged in frank and detailed discussions regarding trade between the United States and China,” Bessent wrote on social media on Friday evening in Washington. “We will meet in person next week to continue our discussions.” In a separate read-out, China described He’s...

Politics

3 d. ago Top US and China envoys set trade talks after ‘constructive’ video call

Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent held a video call on Saturday morning and stated that trade negotiators from their countries would meet next week. “This evening, Vice-Premier He Lifeng and I engaged in frank and detailed discussions regarding trade between the United States and China,” Bessent wrote on social media on Friday evening in Washington. “We will meet in person next week to continue our discussions.” In a separate read-out, China described He’s...

Politics

3 d. ago Top US and China trade envoys set for talks after ‘constructive’ video call

China and the United States are set to hold fresh trade talks next week, following a video call between Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent on Saturday morning Beijing time. “Vice-Premier He Lifeng and I engaged in frank and detailed discussions regarding trade between the United States and China,” Bessent wrote on social media after their call. “We will meet in person next week to continue our discussions.” In its readout, China described He’s discussions with...

Politics

3 d. ago Myanmar junta forces retake key town on trade route to China

Myanmar’s ruling junta said on Saturday that it had recaptured a town on a trade highway to China from an ethnic armed group in the country’s war-wracked north. Following a 16-day operation, “Tatmadaw reoccupied Hsipaw completely” on Thursday, the state-run Global New Light of Myanmar newspaper said, referring to the military by its Burmese name. Northern Shan state has been rocked by fighting since June 2024 when an alliance of ethnic armed groups renewed an offensive against the military along...

Politics

3 d. ago Hong Kong to navigate trade war with supply chains, says Paul Chan in US

Hong Kong will adjust to navigate lingering geopolitical tensions, welcoming new growth in supply chains, financial services and innovation, the finance chief has vowed while promoting the city’s opportunities in the United States. Financial Secretary Paul Chan Mo-po made his remarks at the end of his first in-person visit to Washington since 2019, as a fresh phase of the US-China trade war looms, with Hong Kong caught in the rivalry. “Geopolitical tensions will continue to be there for quite...

Events

3 d. ago Hong Kong to navigate trade war with new strategies, Paul Chan says in US

Hong Kong will adjust to navigate lingering geopolitical tensions, welcoming new growth in supply chains, financial services and innovation, the finance chief has vowed while promoting the city’s opportunities in the United States. Financial Secretary Paul Chan Mo-po made his remarks at the end of his first in-person visit to Washington since 2019, as a fresh phase of the US-China trade war looms, with Hong Kong caught in the rivalry. “Geopolitical tensions will continue to be there for quite...

Events

3 d. ago Hong Kong will navigate trade war with new strategies, Paul Chan says in US

Hong Kong will successfully navigate protracted geopolitical tensions, serving as a supply chain hub while providing financial services and innovation, the finance chief has said after a visit to the United States where he promoted the city. Financial Secretary Paul Chan Mo-po offered the upbeat assessment in an interview with the Post at the end of his first visit to Washington since 2019, with a fresh phase of the US-China trade war looming and Hong Kong caught up in the rivalry. “Geopolitical...

Events

3 d. ago Trump and Xi’s shock tactics see trade war remain in a stalemate

Blame games, tit-for-tat threats, off-again on-again meetings between US President Donald Trump and Chinese President Xi Jinping, and wild tariff swings seem to be the recent order of the day. According to former government officials and analysts, however, this should come as no surprise – it’s just the price you pay when diplomatic norms are brushed off. In the latest twist in the saga, Trump on Friday swung from tough to conciliatory, appearing to reverse threats made a week earlier to cancel...

Events

5 d. ago South Korea, US edge closer to US$350 billion trade deal breakthrough

Top Seoul officials are visiting Washington amid signs of major progress in tough trade negotiations, although analysts warn that a coerced deal could severely damage South Korea’s economy. Kim Yong-bum, policy chief of the presidential staff, and Industry Minister Kim Jung-kwan left for Washington on Thursday to join Finance Minister Koo Yun-cheol and Trade Minister Yeo Han-koo. The delegation plans to meet US counterparts to finalise details of South Korea’s US$350 billion investment...

Economics

6 d. ago China exempts ag products from new port fees in trade war move

China exempts ag products from new port fees in trade war move  Brownfield Ag News

Events

6 d. ago At China’s biggest export fair, the trade war’s rising toll is clear to see

The latest flare-up in US-China tensions is casting a fresh – albeit limited – shadow over the autumn edition of the Canton Fair, China’s largest foreign trade exhibition, which kicked off on Wednesday. With the threat of a return to triple-digit US tariffs hanging in the air, Chinese exporters in a slew of industries said they were pivoting away from the American market but faced squeezed profit margins and increased credit risks. Many are hoping that Europe can act as a lifeline, while rising...

Events

6 d. ago Invest and expand in Hong Kong, Paul Chan tells US firms despite trade tensions

Hong Kong’s finance chief has called on American businesses to invest in the city as he begins his latest visit to the country, even as global concerns grow over the possible re-escalation of the US-China trade war. The government on Wednesday said that Financial Secretary Paul Chan Mo-po arrived in New York the previous day and attended the annual gala dinner of the National Committee on United States-China Relations (Ncuscr), a non-profit organisation that promotes understanding between the...

Economics

7 d. ago As China and US impose rival port fees, global shipping braces for disruption

As China and the United States begin charging additional port fees on Tuesday, analysts warn the global shipping industry faces growing uncertainty and turmoil – though Beijing’s exemption of domestically built vessels is expected to limit the impact. China announced retaliatory port fees last Friday and released implementation details in the first hour of Tuesday – the same day the Chinese and US measures took effect. Fees will be waived for vessels built in China and for empty vessels arriving...

Politics

7 d. ago How India’s purchases of Russian oil are reshaping global energy trade

Western sanctions on Russia following its invasion of Ukraine have shifted global energy flows, with India and China emerging as prominent buyers of Russian oil. The question is no longer from whom New Delhi and Beijing will purchase energy, but in which currency they will pay. Amid warming ties between India and China following US President Donald Trump’s imposition of sweeping tariffs on Indian exports after New Delhi refused to stop purchasing Russian oil, Indian traders are reportedly asking...

Politics

7 d. ago Trump’s tariffs are pushing India closer to Russia and China

Western sanctions on Russia following its invasion of Ukraine have shifted global energy flows, with India and China emerging as prominent buyers of Russian oil. The question is no longer from whom New Delhi and Beijing will purchase energy, but in which currency they will pay. Amid warming ties between India and China following US President Donald Trump’s imposition of sweeping tariffs on Indian exports after New Delhi refused to stop purchasing Russian oil, Indian traders are reportedly asking...

Politics

7 d. ago China, new port fees on US ships in force Beijing: ready for a trade war to the end

China, new port fees on US ships in force Beijing: ready for a trade war to the end  Il Sole 24 ORE

Events

8 d. ago US, China leaders will avoid ‘race to the bottom’: Alibaba’s Joe Tsai

Alibaba Group Holding chairman Joe Tsai has expressed optimism about US-China trade tensions. “I’m actually quite optimistic that we’re not going to devolve into kind of a race to the bottom”, he said during an interview with CNBC dated October 10 and published on Monday. “The two countries’ leaders have the wisdom to come to a point where they recognise that this is a hugely symbiotic relationship,” he added. Tsai, who owns the Brooklyn Nets basketball team, spoke on the sidelines of an NBA...

Politics