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Reaction to EU, U.S. truce in aircraft subsidies dispute
  + stars: | 2021-06-15 | by ( ) www.reuters.com + 0.99   time to read: +2 min
The European Union and the United States have agreed a truce in their near 17-year conflict over aircraft subsidies for U.S. planemaker Boeing (BA.N) and European rival Airbus (AIR.PA), the EU said on Tuesday. Here are reactions to the deal:URSULA VON DER LEYEN, EUROPEAN COMMISSION PRESIDENT"This really opens a new chapter in our relationship because we move from litigation to cooperation on aircraft - after 17 years of dispute." JOE BIDEN, U.S. PRESIDENT"It's overwhelmingly in the interest of the USA to have a great relationship with NATO and the EU. BRITAIN'S DEPARTMENT FOR INTERNATIONAL TRADE"We have been working hard with the U.S. to de-escalate and agree a settlement after making the first move in suspending tariffs." "But we still have a serious problem in our exports: black olives are not included in this agreement."
Persons: URSULA VON DER LEYEN, JOE BIDEN, It's, Katherine Tai's, ANTONIO DE MORA Organizations: European Union, U.S, planemaker Boeing, Airbus, USA, NATO, BRITAIN'S, INTERNATIONAL, . Trade, Thomson Locations: United States, U.S
On Tuesday, Mr. Biden completed the last of three summits with the U.S.’s staunchest allies, having met with leaders from the Group of Seven wealthy democracies, NATO and the European Union. U.S. officials believe the tour has successfully unified the world’s major democracies against the influence of autocracies like China and Russia. That, analysts say, has increased the need for Mr. Biden to stabilize relations with the Kremlin to focus on Beijing. “We should decide where it’s in our mutual interest, in the interest of the world, to cooperate, and see if we can do that. And the areas where we don’t agree, make clear what the red lines are,” Mr. Biden told reporters Monday after a summit of the North Atlantic Treaty Organization.
Persons: Biden’s, Vladimir Putin, Biden, Katherine Tai, , Mr Organizations: U.S, NATO, European Union . U.S, EU, U.S . Trade, Atlantic Treaty Organization Locations: amity, China, Russia, U.S, Beijing
EU, U.S. reach deal to end Airbus-Boeing trade dispute
  + stars: | 2021-06-15 | by ( ) www.nbcnews.com sentiment -0.86   time to read: +1 min
BRUSSELS — The United States and the European Union reached a deal Tuesday to end a damaging dispute over subsidies to rival plane makers Boeing and Airbus and phase out billions of dollars in punitive tariffs, the U.S. trade envoy said. U.S. Trade Representative Katherine Tai said the two sides have come to terms on a five-year agreement to suspend the tariffs at the center of the dispute. She said they could be reimplemented if the U.S. companies are not able to “compete fairly” with those in Europe. “Today’s announcement resolves a long-standing irritant in the U.S.-EU relationship,” Tai said, as President Joe Biden met with EU leaders in Brussels. This is a developing story and will be updated.
Persons: Katherine Tai, , ” Tai, Joe Biden Organizations: European Union, Boeing, Airbus, . Trade, EU Locations: BRUSSELS, United States, U.S, Europe, Brussels
U.S, EU agree truce in 17-year aircraft subsidy battle
  + stars: | 2021-06-15 | by ( Philip Blenkinsop | ) www.reuters.com + 0.00   time to read: +3 min
A worker adjusts European Union and U.S. flags at the start of the 2nd round of EU-US trade negotiations for Transatlantic Trade and Investment Partnership at the EU Commission headquarters in Brussels November 11, 2013. REUTERS/Francois Lenoir/File PhotoThe United States and the European Union have agreed a truce in their near 17-year conflict over aircraft subsidies, bringing to a close one set of Trump-era tariffs which had soured relations between them. On Tuesday they said they would remove them for five years, while still working on an overall deal on what subsidies to allow. European Commission president Ursula von der Leyen said in a statement an EU-U.S. summit with U.S. President Joe Biden had begun with a breakthrough. The two are also likely to agree to cooperate on trade and technology, such as for setting compatible standards and facilitating trade in artificial intelligence.
Persons: Francois Lenoir, Ursula von der Leyen, Joe Biden, Katherine Tai, Tai, Liz Truss, Donald Trump's, Davidson Organizations: Union, Transatlantic Trade, Investment, EU, REUTERS, European Union, Trump, World Trade Organization, U.S, planemaker Boeing, Airbus, European, U.S . Trade, Britain, European Commission, Harley, Thomson Locations: Brussels, States, EU, China, Washington
U.S, EU agree truce in 17-year aircraft subsidy conflict
  + stars: | 2021-06-15 | by ( Philip Blenkinsop | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Francois Lenoir/File PhotoThe United States and the European Union have agreed a truce in their near 17-year conflict over aircraft subsidies, suspending for five years one set of Trump-era tariffs which had soured relations between them. "With this agreement, we are grounding the Airbus-Boeing dispute," EU trade chief Valdis Dombrovskis said in a statement during an EU-U.S. summit with U.S. President Joe Biden. They would also work to counter investments in aircraft by "non-market actors", she said, referring specifically to China. Airbus said it welcomed the truce that would end "lose-lose" tariffs, which had also been imposed on planes. The two are also likely to agree to cooperate on trade and technology, such as for setting compatible standards and facilitating trade in artificial intelligence.
Persons: Francois Lenoir, Valdis Dombrovskis, Joe Biden, Katherine Tai, Tai, Liz Truss, Donald Trump's, Davidson Organizations: Union, Transatlantic Trade, Investment, EU, REUTERS, European Union, Trump, World Trade Organization, U.S, planemaker Boeing, Airbus, WTO, Boeing, U.S . Trade, Britain, European Commission, Harley, Thomson Locations: Brussels, States, EU, China, United States, Washington
U.S, EU agree truce in 17-year Airbus-Boeing conflict
  + stars: | 2021-06-15 | by ( Philip Blenkinsop | ) www.reuters.com + 0.00   time to read: +5 min
"Grounding the Airbus-Boeing dispute delivers a major confidence boost for EU-U.S. relations," EU trade chief Valdis Dombrovskis told a news conference after an EU-U.S. summit with U.S. President Joe Biden. Both sides said they were confident the Airbus/Boeing dispute would indeed end within five years. BRITAIN WAITS, STEEL DISPUTE LINGERSFormer EU member Britain, which was also involved in the dispute as a home to Airbus production, said it hoped for a similar deal within days. An EU official said the two sides had a "robust" discussion on metals, with disagreement on the rationale for the tariffs. The two also agreed to cooperate on trade and technology, such as for setting compatible standards and facilitating trade in artificial intelligence.
Persons: Valdis Dombrovskis, Joe Biden, Katherine Tai, Francois Lenoir, Read, Biden, Ngozi Okonjo, Tai, Liz Truss, Donald Trump's, Davidson, Marine Strauss, Philip Blenkinsop, Louise Heavens Organizations: Trump, Britain, European Union, World Trade Organization, U.S, planemaker Boeing, Airbus, WTO, Boeing, EU, U.S . Trade, Union, Transatlantic Trade, Investment, REUTERS, European Commission, Harley, Thomson Locations: U.S, BRUSSELS, United States, EU, China, Brussels, France, Germany, WTO, Washington, States
BRUSSELS—The U.S. and the European Union agreed to suspend their trade dispute over government subsidies to Boeing Co. and Airbus SE, significantly easing trade tensions amid a broader effort to improve trans-Atlantic relations. The agreement would suspend for five years tariffs that have been authorized by the World Trade Organization, U.S. Trade Representative Katherine Tai told reporters on Tuesday. Defusing the aircraft trade fight would mark a tangible achievement for his week of European diplomacy. Setting aside trans-Atlantic differences on the aviation dispute allows the allies to jointly focus on China. “Instead of fighting with one of our closest allies, we are finally coming together against a common threat,” Ms. Tai said.
Persons: Katherine Tai, ” Ms, Tai, Ursula von der Leyen, Ms, von der Leyen, Biden, kenzo tribouillard, Donald Trump, Antony Blinken, Gina Raimondo, Trump, WSJ’s Jaden Urbi, George Downs, — Paul Hannon, Daniel Michaels, Andrew Restuccia, Doug Cameron Organizations: European Union, Boeing Co, Airbus, World Trade Organization, . Trade, EU . European, Twitter, Biden, Agence France, Seven, Boeing, Street, EU, U.S, WTO, Delta Air Lines Inc, Ryanair Holdings PLC’s Boeing, MAX, Ryanair Locations: BRUSSELS, The U.S, Brussels, China, Russia, Iran, U.S, Washington, France, Germany, doug.cameron
WASHINGTON — The United States and Europe will announce a new joint technology and trade initiative on Tuesday, part of a wide-reaching effort this week by President Joe Biden to rally European allies and challenge China's rising influence. The U.S.-EU Trade and Technology Council will have three overarching goals: To establish new global trade standards for emerging technology; to promote democratic values online; and to find ways for the United States and the EU to collaborate on cutting edge research and development. On the U.S. side, the trade council will be co-chaired by Secretary of State Antony Blinken, Secretary of Commerce Gina Raimondo and Ambassador Katherine Tai, the U.S. trade representative, said a Biden administration official who briefed reporters and requested anonymity to discuss ongoing negotiations. Other specific goals of the council include:To coordinate standards on new technology like artificial intelligence, quantum computing and biotechnology. Over the past decade, China has made huge public investments in its technology sector.
Persons: Joe Biden, WASHINGTON —, Jake Sullivan, Antony Blinken, Gina Raimondo, Katherine Tai Organizations: NATO, WASHINGTON, EU Trade, Technology, EU, Biden, World Trade Organization Locations: Brussels, Belgium, United States, Europe, U.S, China
London/Brussels (CNN Business) The United States and the European Union are poised to resolve a long-running trade dispute over subsidies to Airbus and Boeing, a move that could improve transatlantic relations as both sides seek to counter China's rising economic influence. The United States and the European Union are expected to announce a resolution of the dispute over government subsidies for the world's leading commercial plane makers during a summit in Brussels on Tuesday, according to a US official. EU Trade Commissioner Valdis Dombrovskis and US Trade Representative Katherine Tai have scheduled a news conference for 9 a.m. The United States, European Union and United Kingdom agreed in March to suspend related tariffs worth billions of dollars for four months. The United States filed a similar claim that year over European subsidies to Airbus.
Persons: Valdis Dombrovskis, Katherine Tai, that's Organizations: CNN, European Union, Airbus, Boeing, EU, US Trade, World Trade Organization, United, Read Locations: Brussels, United States, United Kingdom
Ping Identity (PING) – Ping Identity announced a 6 million share common stock offering, in a sale of shares held by investment funds affiliated with Vista Equity Partners. The identity management solutions company will not receive any proceeds from the offering. Sage Therapeutics (SAGE) – The drugmaker's shares tanked 17.5% in premarket trading following the release of study results for Sage's experimental depression drug. Citi upgraded the stock to "buy" from "neutral" following that update, and shares rallied 2.6% in the premarket. Novavax (NVAX) – Novavax announced positive results from its first study of its Covid-19 vaccine and a flu vaccine administered simultaneously.
Persons: – Vroom, Ping, Katherine Tai, Morgan Stanley, – AstraZeneca, – Novavax Organizations: Ping Identity, Vista Equity Partners, Sage Therapeutics, Boeing, European Union, Airbus, World Trade Organization, U.S . Trade, Exxon Mobil, – Bank of America, Spirit Airlines, Securities and Exchange Commission, Citi, AstraZeneca, Intuit, SEC, Vimeo Locations: U.S
NATO heads of states and governments gather for a plenary session at a NATO summit in Brussels, Belgium, June 14, 2021. Quoting Irish poet W. B. Yeats at the start of his first EU-U.S. summit as president, Biden also said the world was shifting and that Western democracies needed to come together. Biden and the EU side agreed to remove tariffs on $11.5 billion of goods from EU wine to U.S. tobacco and spirits for five years. After scotching a free-trade agreement with the EU, the Trump administration focused on shrinking a growing U.S. deficit in goods trade. Biden, however, sees the EU as an ally in promoting free trade, as well as in fighting climate change and ending the COVID-19 pandemic.
Persons: Olivier Matthys, Joe Biden, Yeats, Biden, Donald Trump, Ursula von der Leyen, von der Leyen, Charles Michel, Katherine Tai, Valdis, State Anthony Blinken, Belgian King Philippe, Alexander De Croo, Sophie Wilmes, Vladimir Putin, Trump, scotching Organizations: NATO, REUTERS U.S, European Union, EU, U.S, USA, planemaker Boeing, Airbus, Commission, Reuters, Trade, State, Belgian, Thomson Locations: Brussels, Belgium, Irish, Europe, United States, Russia, China, EU, Washington, U.S, Geneva
read moreThe European Commission, which oversees EU trade policy, is keen to find a solution by July 11 when a suspension of transatlantic tariffs agreed in March comes to an end. But hurdles remain over the extent to which those conditions could effectively allow the United States to approve or block European projects, they added. read moreThe United States wants a common review of aerospace funding in non-market economies like China, two of the people said. Britain and the United States committed last week to settle the aircraft dispute. A European diplomat said Britain and the EU were broadly aligned in trying to reach a deal with the United States.
Persons: Pascal Rossignol, Katherine Tai, Valdis Dombrovskis, Robert Lighthizer, Washington, Marjorie Chorlins, It's, Brexit Organizations: Airbus, Boeing, 51st Paris Air, REUTERS, European Union, EU, . Trade, European Commission, World Trade Organization, Reuters, U.S . Chamber, Commerce, Washington, Thomson Locations: Le Bourget, Paris, United States, Europe, China, Washington, London, Tuesday's U.S, Britain, United, CHINA, U.S, Beijing, Hungary, Hong Kong, Brussels, EU, European
U.S. Trade Representative Tai to hold talks in Britain next week
  + stars: | 2021-06-11 | by ( Andrea Shalal | ) www.reuters.com sentiment -0.98   time to read: +2 min
WASHINGTON (Reuters) - U.S. Trade Representative Katherine Tai will travel to Britain on Wednesday and hold talks with British trade minister Elizabeth Truss after participating in a U.S.-European Union summit and holding several bilateral meetings, her office said. On Wednesday, Tai will travel to London and hold bilateral meetings with British trade secretary Elizabeth Truss before returning to the United States, USTR said. The White House has said it will put new trade deals on hold until it has reviewed Trump’s trade policies. Britain and the United States had started talks on a bilateral free trade deal under Trump, but failed to reach an accord before Biden took office. UK ambassador Karen Pierce told Reuters that U.S. officials were supportive of a free trade deal with Britain, but the timing was unclear given other U.S. domestic priorities.
Persons: Katherine Tai, Elizabeth Truss, Pete Marovich, REUTERS Tai, Tai, Valdis Dombrovskis, ” USTR, USTR, Trump, Biden, Karen Pierce Organizations: WASHINGTON, . Trade, Union, Senate, Capitol, REUTERS, AFL, U.S, EU, Transatlantic, Trump, Reuters, European Union Locations: Britain, U.S, Washington , U.S, Brussels, London, United States
U.S. Trade Representative Katherine Tai said on Thursday the Biden administration was working on multiple fronts to end the pandemic. "Extraordinary circumstances call for extraordinary measures," Tai told a virtual town hall for union members hosted by the AFL-CIO trade federation. Sean Flynn, an expert on intellectual property at American University Washington, said he expects the WTO to reach a deal on a waiver during a ministerial meeting later this year. The pharmaceutical industry argues that companies invested their own funds to develop vaccines and waiving their IP rights will undermine such work in the future. Robert Grant, senior director of international affairs at the U.S. Chamber of Commerce’s Global Innovation Policy Center, said there was "no evidence" that waiving intellectual property rights would boost vaccine production.
Persons: Lucy Nicholson, Katherine Tai, Biden, Tai, Joe Biden, Sean Flynn, Janet Yellen, Robert Grant, we’re, Organizations: Pfizer, REUTERS, U.S . Trade, AFL, World Trade Organization, WTO, Biden, American University Washington, Treasury, U.S . Chamber, Innovation Policy, Thomson Locations: Los Angeles , California, U.S, States, Washington, Germany, Britain
WASHINGTON (Reuters) -U.S. Trade Representative Katherine Tai said on Thursday she will accompany President Joe Biden to Brussels next week for “intense negotiations” to try to resolve trade disputes over aircraft subsidies and steel and aluminum. FILE PHOTO: Katherine Tai, nominee for US Trade Representative speaks at the Senate Finance Committee hearing at the US Capitol in Washington, DC, U.S. February 25, 2021. “We’ll participate in intense negotiations to resolve the 16-year-old Boeing/Airbus disputes and to find a path forward on products like steel and aluminum,” Tai said, repeating her upbeat assessment of the talks thus far. “From my conversations so far, I am optimistic that we will be successful,” Tai told the event. Discussions about steel and aluminum tariffs are still in the early stages and will take longer to resolve, the source said.
Persons: Katherine Tai, Joe Biden, , Tasos, REUTERS Tai, “ We’ll, Tai, ” Tai, Biden, Organizations: WASHINGTON, . Trade, US Trade, Senate, REUTERS, AFL, Boeing, Airbus, EU, United Steelworkers, Reuters, Boeing Co Locations: Brussels, Washington , DC, U.S, China
U.S., Taiwan officials discuss trade, plan meeting 'in coming weeks'-USTR
  + stars: | 2021-06-10 | by ( ) www.reuters.com sentiment -0.98   time to read: +2 min
U.S. Trade Representative Katherine Tai testifies before the Senate Finance Committee on Capitol Hill in Washington, U.S., May 12, 2021. Susan Walsh/Pool via REUTERS/File PhotoUnited States Trade Representative Katherine Tai discussed trade and investment issues with Taiwan minister John Deng on Thursday and agreed to convene a meeting of the countries' Trade And Investment Framework Agreement Council "in coming weeks", Tai's office said in a statement. "Ambassador Tai emphasized the importance of the U.S.-Taiwan trade and investment relationship and explained the Biden-Harris administration's worker-centered trade priorities," USTR said. Taiwan has long angled for a free trade deal with the United States, but trade and investment talks between the two have been stalled since the Obama administration. The outcome could affect trade talks with Washington.
Persons: Katherine Tai, Susan Walsh, John Deng, Tai, Harris, USTR, Antony Blinken, Biden, Obama, Barack Obama, Donald Trump's, Robert Lighthizer Organizations: Trade, Senate, Capitol, United States Trade, U.S ., Biden, Reuters, American Institute, Cultural, World Trade Organization, New Zealand, Washington, Thomson Locations: Washington , U.S, Taiwan, U.S, Washington, Beijing, United States, Taipei, China, Singapore, New
Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. REUTERS/Aly SongTop U.S. and Chinese commerce officials spoke by telephone and agreed to promote healthy trade and cooperate over differences, China’s commmerce ministry said on Thursday, the latest high-level exchange as the countries spar over disagreements. Both sides recognise the importance of business exchanges and will keep lines of communication open, the Chinese statement said after Commerce Minister Wang Wentao spoke with U.S. Commerce Secretary Gina Raimondo. "They agreed to promote the healthy development of trade and investment and cooperate in a pragmatic way to handle their differences," the Chinese ministry said. In a Thursday editorial, official China Daily saying in an editorial that the U.S. technology legislation is “really deployment for Cold War.”Our Standards: The Thomson Reuters Trust Principles.
Persons: Aly, China’s commmerce, Wang Wentao, Gina Raimondo, Liu, Janet Yellen, Katherine Tai, Joe Biden Organizations: Bund, REUTERS, Commerce, U.S . Commerce, U.S, Treasury, . Trade, U.S . Senate, Trump, Thomson Locations: Shanghai, China, Beijing, U.S
U.S. commerce chief expressed concerns to Chinese counterpart, Washington says
  + stars: | 2021-06-10 | by ( ) www.reuters.com sentiment -0.89   time to read: +2 min
Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. REUTERS/Aly SongThe Biden administration's top commerce official told her Chinese counterpart Washington is concerned about Beijing's industrial policies, the Commerce Department said on Thursday, the latest high-level exchange as the countries spar over disagreements. China's commerce ministry said separately that the two officialsagreed to keep lines of communication open. Earlier this month, Chinese Vice Premier Liu spoke with U.S. Treasury Secretary Janet Yellen, and late last month he held a similarly "candid" exchange of views with U.S. Trade Representative Katherine Tai. read moreIn a Thursday editorial, official China Daily said the U.S. technology legislation is "really deployment for Cold War."
Persons: Aly Song, Biden, Gina Raimondo's, Wang Wentao, Liu, Janet Yellen, Katherine Tai, Joe Biden Organizations: Bund, REUTERS, Commerce Department, Commerce, Chinese Commerce, U.S, Treasury, . Trade, U.S . Senate, Trump, China Daily, Thomson Locations: Shanghai, China, Washington, Beijing, U.S
Ambassador Tai to Outline Biden’s Goal of Worker-Focused Trade Policy
  + stars: | 2021-06-10 | by ( Jeanna Smialek | ) www.nytimes.com sentiment -0.99   time to read: +1 min
Katherine Tai, the United States trade representative, will emphasize in a speech on Thursday that America is focused on protecting workers through trade policy and that it will try and push trading partners to lift wages, allow collective bargaining and end forced labor practices. The speech, Ms. Tai’s first significant policy address, is expected to highlight the Biden administration’s goal of re-empowering workers and minimizing the negative effects of globalization, which has encouraged companies to move jobs and factories offshore in search of cheaper labor and materials. Less clear is how the administration will, in practice, accomplish those goals. “For a very long time, our trade policies have been shaped by folks who are used to looking at the macro picture — big economic sectors,” Ms. Tai said in an interview ahead of the speech, which she will deliver at an A.F.L.-C.I.O. “We’ve lost sight of the impact of these policies, the really real and direct impact they can have on regular people’s lives, and on our workers’ livelihoods.”According to a copy of her prepared remarks, Ms. Tai will portray the administration’s push as trying to correct for decades of trade policy that put company profits ahead of workers and helped erode worker power in the United States.
Persons: Katherine Tai, Tai’s, Ms, Tai, “ We’ve Organizations: Biden Locations: United States, America
Can Biden Put Workers First in Trade Talks?
  + stars: | 2021-06-10 | by ( Giovanni Russonello | ) www.nytimes.com sentiment -1.00   time to read: +1 min
It also mostly drowned out another announcement on trade policy, one the Biden administration had hoped would send a major signal that it was breaking from the past. Katherine Tai, the U.S. trade representative, told the A.F.L.-C.I.O. during a speech on Thursday that the White House was working to put workers first in its negotiations with its trading partners, a shift from the usual focus on macroeconomics and business interests. In her speech, Tai said the previous approach had “created a trust gap with the public about free trade.”“We want to make trade a force for good that encourages a race to the top,” Tai said. In order to understand how trade affects workers, we want to come meet with, listen to, and learn from them.”Our economics reporter Jeanna Smialek interviewed Tai for an article published ahead of her speech.
Persons: Biden, Katherine Tai, Tai, , ” Tai, , Jeanna Smialek Organizations: White Locations: U.S
Top U.S., Taiwan Trade Officials to Talk as Early as Thursday
  + stars: | 2021-06-09 | by ( Bob Davis | ) www.wsj.com sentiment -0.99   time to read: +1 min
Trade Representative Katherine Tai plans to speak with her Taiwanese counterpart as early as Thursday as the two governments move to restart trade and investment talks that were suspended during the Trump administration, people familiar with the discussion said Wednesday. The Trade and Investment Framework Agreement talks date back to the 1990s. The talks were discontinued under the Trump administration’s trade representative, Robert Lighthizer, who considered Taiwan a mercantilist country that blocked U.S. imports. A spokesman for Taiwan’s representative in the U.S. didn’t immediately respond to a request for comment. A USTR spokesman declined comment on discussions between Ms. Tai and Taiwan’s John Deng.
Persons: Katherine Tai, Trump, Antony Blinkendisclosed, Robert Lighthizer, didn’t, Tai, John Deng Organizations: WASHINGTON —, WASHINGTON — U.S . Trade, Trade, Trump, Beijing Locations: WASHINGTON, WASHINGTON — U.S, Taiwan, Beijing, U.S
U.S., Taiwan to Launch Trade Talks
  + stars: | 2021-06-07 | by ( William Mauldin | Josh Zumbrun | ) www.wsj.com sentiment -0.97   time to read: +1 min
The Biden administration is launching trade and investment talks with Taiwan, advancing U.S. ties with Taipei and likely adding to frictions with the island’s nemesis, Beijing. Secretary of State Antony Blinken told a House committee on Monday about the plans for trade talks. Mr. Blinken declined to elaborate and referred questions about details to Katherine Tai, the U.S. trade representative, who wasn’t at the hearing. Taiwan for years has sought closer engagement on economic issues, and in the past year the State Department has sponsored lower-level discussions on closer economic and business relations. U.S. ties with Taiwan, a Cold War ally, are a lightning rod in the testy relations between Washington and Beijing, which sees Taiwan as a breakaway province and vows to use military force if needed to annex the island.
Persons: Biden, Antony Blinken, , ” Mr, Blinken, Andy Barr, Katherine Tai Organizations: State Department Locations: Taiwan, U.S, Taipei, Beijing, Ky, Canada, Mexico, Washington
BEIJING (Reuters) -China’s imports grew at their fastest pace in 10 years in May, fuelled by surging commodity prices, while export growth missed expectations, likely weighed by disruptions caused by COVID-19 cases at major ports in the country’s south. FILE PHOTO: Containers are seen at the Yangshan Deep-Water Port in Shanghai, China October 19, 2020. Major shipping companies have warned clients of worsening congestion at Shenzhen’s Yantian port in Guangdong province after the recent outbreak. Since President Joe Biden took office in January, China has increased engagement with U.S. trade and economic chiefs. China’s Vice Premier Liu He spoke with U.S. Treasury Secretary Janet Yellen last week, just days after talks with U.S. Trade chief Katherine Tai.
Persons: Song, , Zhiwei Zhang, Zhang, Zhang Yi, Biden, Joe Biden, Liu, Janet Yellen, Katherine Tai Organizations: REUTERS, “ Export, Zhonghai, Capital Management, Reuters, Trump, U.S, Treasury, U.S . Trade Locations: BEIJING, Shanghai, China, Guangdong, Shenzhen, Guangzhou, Guangdong province
UPDATE 1-China's imports grow at fastest pace in a decade
  + stars: | 2021-06-07 | by ( Reuters Staff | ) www.reuters.com sentiment -0.76   time to read: +2 min
Exports in dollar terms grew 27.9% in May from a year earlier, slower than the 32.3% growth reported in April and missing analysts’ forecast of 32.1%. Imports increased 51.1% year-on-year last month, picking up from a 43.1% rise in April but slower than the 51.5% rise tipped by the Reuters poll. China posted a trade surplus of $45.53 billion for the month, wider than the $42.86 billion surplus in April but less than the $50.5 billion expected by analysts. The currency extended its rally in recent weeks to near three-year highs against the dollar, while its strength has yet to dent China’s trade surplus, but could further saddle U.S. consumers with higher prices. Since President Joe Biden took office in January, China has increased engagement with U.S. trade and economic chiefs.
Persons: Biden, Joe Biden, Liu, Janet Yellen, Katherine Tai Organizations: Reuters, U.S, Treasury, U.S . Trade Locations: BEIJING, China
REUTERS/Aly SongChina’s imports grew at their fastest pace in 10 years in May, fuelled by surging commodity prices, while export growth missed expectations, likely weighed by disruptions caused by COVID-19 cases at major ports in the country’s south. Major shipping companies have warned clients of worsening congestion at Shenzhen’s Yantian port in Guangdong province after the recent outbreak. China posted a trade surplus of $45.53 billion for the month, wider than the $42.86 billion surplus in April but less than the $50.5 billion expected. Since President Joe Biden took office in January, China has increased engagement with U.S. trade and economic chiefs. China’s Vice Premier Liu He spoke with U.S. Treasury Secretary Janet Yellen last week, just days after talks with U.S. Trade chief Katherine Tai.
Persons: Aly, Zhiwei Zhang, Zhang, Zhang Yi, Biden, Joe Biden, Liu, Janet Yellen, Katherine Tai Organizations: REUTERS, Export, Zhonghai, Capital Management, Reuters, Trump, U.S, Treasury, U.S . Trade, Thomson Locations: Shanghai, China, Guangdong, Shenzhen, Guangzhou, Guangdong province
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