28 h. ago As Chinese exporters explore home market, how are letters of credit helping?

After the United States imposed so-called reciprocal tariffs on imports from China in April, Beijing took steps to help Chinese exporters sell their products domestically. In addition to the staging of product promotion events across the country and the offering of fiscal and financial incentives, Beijing also encouraged the increased use of letters of credit (L/Cs) to help such businesses switch focus to the domestic market. What is a domestic letter of credit? A letter of credit, also known as...

Politics

28 h. ago Cheerleaders to critics: German machinery makers call for EU action on China

Germany’s iconic machine makers used to be among the loudest cheerleaders for ever-closer economic ties between China and Europe. Now, as exports dwindle and facing “increasingly strong [Chinese] competitors” beefed up by “unfair state subsidies”, the industry is demanding that Brussels put in place trade barriers to protect it. A new position paper published on Thursday by the Mechanical Engineering Industry Association (VDMA), representing medium-sized manufacturers that help constitute...

Politics

34 h. ago Chinese solar firms bank on overseas expansion to survive amid US tariffs

Chinese solar and energy-storage companies will continue to press ahead with their overseas expansion with or without a long-term agreement on trade tariffs, as production abroad holds the key to their long-term survival, according to executives at China’s largest solar industry exhibition. Although the US and China reached a 90-day truce in their ongoing tariff war in May, solar panel exports from China and Southeast Asia to the US are still subject to tariffs of as much as 3,521 per cent, with...

Economics

37 h. ago Trump cannot hope to solve a China ‘problem’ he has misdiagnosed

Amid a US-China trade truce, negotiators in London reached a “framework” agreement to activate the Geneva deal, raising hopes for an immediate alleviation of the trade conflict, including potentially a US commitment to revoke some of its tech embargoes in return for China’s relaxation of rare earth export restrictions. The full details of the London agreement are expected to be available after both US President Donald Trump and President Xi Jinping have approved it. The two-day London...

Politics

37 h. ago Trump’s fundamental mistake is in seeing China as America’s problem

Amid a US-China trade truce, negotiators in London reached a “framework” agreement to activate the Geneva deal, raising hopes for an immediate alleviation of the trade conflict, including potentially a US commitment to revoke some of its tech embargoes in return for China’s relaxation of rare earth export restrictions. The full details of the London agreement are expected to be available after both US President Donald Trump and President Xi Jinping have approved it. The two-day London...

Politics

39 h. ago Nvidia to exclude China from forecasts amid US chip export controls

Nvidia to exclude China from forecasts amid US chip export controls  South China Morning Post

Politics

40 h. ago Nvidia to stop including China in forecasts amid US chip export controls, CNN reports

Nvidia to stop including China in forecasts amid US chip export controls, CNN reports  Reuters

Politics

40 h. ago Nvidia will stop including China in its forecasts amid US chip export controls, CEO says

Nvidia will stop including China in its forecasts amid US chip export controls, CEO says  CNN

Politics

43 h. ago China says it will remove all tariffs on African exports to boost trade

China says it will remove all tariffs on African exports to boost trade  Reuters

Politics

48 h. ago Why China’s rare earth exports are a key issue in trade tensions with US

Why China’s rare earth exports are a key issue in trade tensions with US  Al Jazeera

Events

50 h. ago Nvidia bets on European AI push amid shrinking China revenue

Nvidia is trying to woo European markets with new partnerships and a pledge to build 20 new artificial intelligence (AI) factories across the continent, as the US chip giant grapples with declining sales in China amid Washington’s tightening export controls. CEO Jensen Huang, speaking at the annual VivaTech conference in Paris on Wednesday, said the company was building the world’s first “industrial artificial intelligence cloud” for European manufacturers. The Germany-based facility, a key part...

Politics

2 d. ago China grants export permits to rare earth giant for US, Europe shipments

A top Chinese rare earth exporter, which hosted President Xi Jinping during a 2019 inspection, said it had obtained export permits for several destinations, including the United States. Investors welcomed the news, sending the company’s shares higher. JL MAG Rare-Earth said on Wednesday that it had also been granted licenses for Europe and Southeast Asia, and that it would export magnetic materials, components and motor rotors. “After the export controls imposed on medium and heavy rare earth...

Politics

3 d. ago China rare earths magnets maker says it has received export licences

China rare earths magnets maker says it has received export licences  Reuters

Politics

3 d. ago Dollar, yuan steady after US, China reach framework deal to ease export curbs

Dollar, yuan steady after US, China reach framework deal to ease export curbs  Reuters

Economics

3 d. ago US and China agree on plan to ease export controls after trade talks in London

US and China agree on plan to ease export controls after trade talks in London  CNN

Politics

3 d. ago US, China reach deal to ease export curbs, keep tariff truce alive

US, China reach deal to ease export curbs, keep tariff truce alive  Reuters

Economics

3 d. ago Dollar holds steady after US, China reach framework deal to ease export curbs

Dollar holds steady after US, China reach framework deal to ease export curbs  Reuters

Economics

4 d. ago Nvidia, AMD, Other Chip Stocks Rise on Hopes China Export Restrictions Could Ease

Nvidia, AMD, Other Chip Stocks Rise on Hopes China Export Restrictions Could Ease  Investopedia

Politics

4 d. ago US, China Hold Trade Talks in London to Address Export Curbs

US, China Hold Trade Talks in London to Address Export Curbs  Yahoo Finance

Politics

4 d. ago Bloomberg Intelligence: US China Trade Talks Start in London With Aim to Ease Export Curbs

Bloomberg Intelligence: US China Trade Talks Start in London With Aim to Ease Export Curbs  Bloomberg

Politics