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us-china trade war

Trump announces plans to reduce tariffs on China

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President Donald Trump has announced that the United States will “substantially” reduce tariffs on Chinese imports, in a move that could mark a shift in the long-running trade conflict between the world’s two largest economies. 

Speaking on April 22, Trump said that although the tariffs would be lowered significantly, they “won’t be zero”, indicating a continued effort to protect certain domestic industries.

Currently, the US imposes tariffs of up to 145 percent on Chinese goods – levels that some within the administration have acknowledged are economically unsustainable. [Read more…] about Trump announces plans to reduce tariffs on China

Will Trump’s plan to reshore US manufacturing succeed?

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President Donald Trump’s renewed push to bring manufacturing back to the United States – anchored by sweeping tariffs and nationalist economic policies – has reignited debate over whether such strategies can truly revitalize American industry.

While the administration touts tariffs as a tool to protect domestic jobs and reduce trade deficits, critics argue that the approach is economically disruptive and unlikely to deliver the promised manufacturing renaissance.​ [Read more…] about Will Trump’s plan to reshore US manufacturing succeed?

Trump pauses tariffs for 90 days for most nations, escalates duties on Chinese imports

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In a significant shift in US trade policy, President Donald Trump has declared a 90-day suspension of elevated tariffs on most countries, while concurrently intensifying tariffs on Chinese imports to 125 percent.

This move comes amid global economic uncertainty and mounting pressure from international allies, domestic lawmakers, and financial markets. [Read more…] about Trump pauses tariffs for 90 days for most nations, escalates duties on Chinese imports

Top US semiconductor companies stop supplying Huawei

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Leading technology companies in the US have started to cut off supplies to Chinese telecommunications equipment supplier Huawei, according to Bloomberg.

US chipmakers such as Intel, Qualcomm, and Xilinx are reported to have said they will not supply Huawei until further notice.

Meanwhile, Google is reported by the Wall Street Journal to have banned Huawei from using some services in its version of the Android operating system for smartphones. [Read more…] about Top US semiconductor companies stop supplying Huawei

Chinese exporters accuse Trump of not playing by the rules

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Chinese export companies have strongly criticized President Donald Trump for deciding to increase tariffs on imports into the US by another 10 percent, bringing them up to 25 percent for hundreds of billions of dollars’ worth of manufactured goods.

Comments reported by the South China Morning Post say Chinese exporters are decrying Trump as a business “killer” who “never plays by the rules”.

One exporter, Liao Yu, who produces bags and suitcases, said: “A 25 per cent [tariff] will kill everyone.”

[Read more…] about Chinese exporters accuse Trump of not playing by the rules

Trump to raise tariffs on China goods to 25 percent

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US President Donald Trump is preparing to raise tariffs on Chinese imports to 25 percent from the current 15 percent.

The levies will affect approximately $350 billion worth of Chinese exports to America.

Trump made the announcement through Twitter. He tweeted: “For 10 months, China has been paying tariffs to the USA of 25 percent on $50 billion dollars of high-tech, and 10 percent on $200 billion of other goods.

[Read more…] about Trump to raise tariffs on China goods to 25 percent

China-US trade dispute causing industrial robot makers to forecast lower earnings

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The ongoing trade dispute between China and the US has caused three of the world’s largest industrial robot makers to lower their earnings forecasts, according to a report on Nikkei.

Yaskawa, Kuka, and Fanuc have all “downgraded their full-year earnings forecasts”, reports Nikkei.

Fanuc predicts net profit of $1.26 billion for the year ending March 2019, which is approximately $26 million lower than its previous forecast.  [Read more…] about China-US trade dispute causing industrial robot makers to forecast lower earnings

Opinion: China and US share similar enterprise culture

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By Edward Tse, Gao Feng Advisory

The looming trade war between the US and China is front-page news around the world.

On the surface, it looks like US President Donald Trump following up on his campaign rhetoric of “America first” and part of his strategy to treat China as a “strategic competitor”.

However, it’s possible to trace the roots of the current impasse to a fundamental mistrust between the West, in particular, the US, and China.  [Read more…] about Opinion: China and US share similar enterprise culture