7 h. ago Can Trump’s pragmatism override China hawks to keep ties from rupture?

China’s rocky trade relationship with the United States was on full display this month as US President Donald Trump threatened to impose additional tariffs on Chinese imports. Separately, US Treasury Secretary Scott Bessent denounced China’s move to expand curbs on rare earth exports, calling it “a sign of how weak their economy is”. He also described Li Chenggang, one of China’s trade negotiators, as “pretty unhinged and very aggressive”. Trade ties between the rival powers remain fraught, even...

Politics

20 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

23 h. ago Hong Kong minister admits procurement vigilance ‘below expectations’, vows reform

Civil servants’ vigilance in guarding against potential procurement scams falls short of public expectations, Hong Kong’s treasury minister has admitted, pledging to conduct site visits and prevent the process from becoming a “robotic” arrangement of “checking boxes”. But Secretary for Financial Services and the Treasury Christopher Hui Ching-yu stressed on Tuesday that the principle of “the lowest bidder wins” did not apply to government procurement procedures this time around and denied that...

Politics

34 h. ago China fires top trade negotiator after Treasury Secretary Scott Bessent calls him ‘unhinged’

China fires top trade negotiator after Treasury Secretary Scott Bessent calls him ‘unhinged’  New York Post

Events

43 h. ago Hong Kong officials involved in water procurement fiasco face disciplinary probe

Hong Kong authorities will launch a disciplinary investigation into officials involved in a bottled water procurement scandal after an initial probe by the audit watchdog found that human error may have been a factor in the case. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu on Monday also announced six recommendations to improve the government’s procurement process. The move came two months after the Government Logistics Department awarded a three-year HK$52.9...

Politics

4 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

4 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

4 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

4 d. ago US threats to decouple from China only expose its own vulnerability

Talk about the pot calling the kettle black. After Beijing announced sweeping export controls last week on rare earths and other critical minerals, US Treasury Secretary Scott Bessent went ballistic. “Maybe there is some Leninist business model where hurting your customers is a good idea, but they are the largest supplier to the world,” he said. Someone from Beijing might have retorted that Washington has been running on some fascist business model whereby it is upending the entire global trade...

Events

5 d. ago The squeeze is on: Beijing and Washington flex muscles as narrative war heats up

As China and the United States accuse each other of provoking the latest escalation in trade tensions and disrupting the world economy, analysts say both share a goal in their war of words: applying maximum pressure until a deal is struck. In the past few days, Washington has framed the recent flare-up in relations as “China versus the world”, with US Treasury Secretary Scott Bessent suggesting on Wednesday that Beijing’s restrictions on the export of rare earth elements unveiled last week made...

Events

5 d. ago Treasury Secretary vows to hit back at China’s market manipulation: ‘Everything is on the table’

Treasury Secretary vows to hit back at China’s market manipulation: ‘Everything is on the table’  Fox Business

Events

5 d. ago Trump ready to slap 'Ukrainian victory tariff' on China if Europe follows suit, treasury secretary says

Trump ready to slap 'Ukrainian victory tariff' on China if Europe follows suit, treasury secretary says  The Kyiv Independent

Politics

5 d. ago Treasury Secretary Scott Bessent slams China as Beijing threatens "hellfire" over trade war

Treasury Secretary Scott Bessent slams China as Beijing threatens "hellfire" over trade war  tag24.com

Events

5 d. ago US willing to hit China with ‘Ukraine victory tariff’ if Europe follows suit

US willing to hit China with ‘Ukraine victory tariff’ if Europe follows suit  TVP World

Events

6 d. ago After India, US tells Japan to stop importing Russian energy

US Treasury Secretary Scott Bessent said on Wednesday that he told Japanese Finance Minister Katsunobu Kato that the Trump administration expects Japan to stop importing Russian energy. “Minister Kato and I also discussed important issues pertaining to the US-Japan economic relationship and the Administration’s expectation that Japan stop importing Russian energy,” Bessent said on social media after the two met on Wednesday. Bessent and Kato met on the sidelines of the annual International...

Politics

6 d. ago Trump’s Treasury Secretary Says US Will Impose ‘Price Floors’ To Combat China Manipulating Markets

Trump’s Treasury Secretary Says US Will Impose ‘Price Floors’ To Combat China Manipulating Markets  Yahoo Finance

Politics

6 d. ago Shutdown costing US economy US$15 billion a day, Treasury chief Bessent says

The two-week-old federal government shutdown is costing the US economy about US$15 billion a day in lost output, Treasury Secretary Scott Bessent said on Wednesday, putting an estimate on its economic toll and urging Democrats to “be heroes” and side with Republicans to end it. Bessent told a news conference that the shutdown was starting to “cut into muscle” of the US economy. “We believe that the shutdown may start costing the US economy up to US$15 billion a day,” he said. The wave of...

Economics

6 d. ago Treasury Secretary Bessent says US wants to derisk with China, not decouple

Treasury Secretary Bessent says US wants to derisk with China, not decouple  Fox Business

Events

6 d. ago Treasury Secretary Bessent says a stock market decline won't deter the U.S. from taking strong action against China

Treasury Secretary Bessent says a stock market decline won't deter the U.S. from taking strong action against China  CNBC

Economics

6 d. ago US Treasury Secretary Criticizes China as Bessent Accuses Beijing of Threatening Global Stability

US Treasury Secretary Criticizes China as Bessent Accuses Beijing of Threatening Global Stability  WION

Events