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Prominent Hong Kong democracy activist Agnes Chow released from prison
  + stars: | 2021-06-12 | by ( ) www.nbcnews.com sentiment -0.97   time to read: +2 min
HONG KONG — Agnes Chow, a prominent Hong Kong pro-democracy activist, was released from prison on Saturday after serving nearly seven months for her role in an unauthorized assembly during anti-government protests in the city in 2019. Chow was released from the Tai Lam Correctional Institution in Tuen Mun, in Hong Kong's New Territories district, at about 10 a.m. local time (10 p.m. Supporters shouted, "Agnes Chow add oil," a Cantonese-language expression of encouragement that was widely used at the protests that roiled the city. Fluent in Japanese, Chow has a sizable following in Japan, particularly on social media and had travelled to the country frequently before her arrest. She often posted on Twitter in Japanese and Japanese media has dubbed her a "goddess of democracy."
Persons: Agnes Chow, Joshua Wong, Wong, Chow, Supporters, Nathan Law, Hong Kong Organizations: Correctional Services Department, Tai Lam Correctional, NBC, Twitter Locations: HONG KONG, Hong Kong, Tai, Tuen Mun, Hong Kong's, Territories, British, Britain, Beijing, Hong, China, Japan
Hong Kong democracy activist Agnes Chow released from prison
  + stars: | 2021-06-12 | by ( ) www.reuters.com sentiment -0.94   time to read: +2 min
Hong Kong pro-democracy activist Agnes Chow speaks to the media before entering Eastern Magistrates' Courts in Hong Kong, China, November 8, 2019. REUTERS/Shannon StapletonHong Kong pro-democracy activist Agnes Chow was released from prison on Saturday after serving nearly seven months for her role in an unauthorised assembly during anti-government protests in the city in 2019. Supporters shouted "Agnes Chow add oil", a Cantonese-language expression of encouragement that was widely used at the protests that roiled the city. Fluent in Japanese, Chow has a sizable following in Japan, particularly on social media and had travelled to the country frequently before her arrest. She often posted on Twitter in Japanese and Japanese media has dubbed her a “goddess of democracy”.
Persons: Agnes Chow, Shannon Stapleton, Joshua Wong, Wong, Chow, Nathan Law, Hong Kong Organizations: REUTERS, Correctional Services Department, Tai Lam Correctional, Twitter, Thomson Locations: Hong Kong, Eastern, China, Shannon Stapleton Hong Kong, Tai, Tuen Mun, Hong Kong's, Territories, Britain, Beijing, Hong, Japan
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
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRising cost is a concern, but margins are expanding due to economic recovery: StrategistIt's a favorable environment for equities, says Tai Hui of J.P. Morgan Asset Management, but investors should take into consideration the potential supply chain disruption brought by pandemic resurgence.
Persons: It's, Tai Hui, J.P Organizations: Morgan Asset Management
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
Chinese jeweller peddles gems of diversification
  + stars: | 2021-06-09 | by ( ) www.reuters.com sentiment -0.94   time to read: +1 min
A salesperson arranges 24K gold bracelets for Chinese weddings at Chow Tai Fook Jewellery store in Hong Kong, China December 14, 2017. REUTERS/Tyrone SiuHong Kong-listed Chow Tai Fook Jewellery (1929.HK) is regaining some sparkle. Whether tourists return to Hong Kong and Macau in droves won’t matter much either way. Mainland China accounted for 85% of revenue in the year to the end of March. Chow Tai Fook now trades at some 25 times forward earnings, more than double rivals Luk Fook (0590.HK) and Chow Sang Sang (0116.HK).
Persons: Chow, Tyrone Siu, Chow Tai Fook, Luk Fook, Chow Sang Sang, Sharon Lam, Warren Buffett Organizations: REUTERS, HK Locations: Hong Kong, China, Tyrone Siu Hong Kong, HK, Macau, Tsui, Mainland China
A Commodities Crunch Caused by Stingy Capital Spending Has No Quick Fix
  + stars: | 2021-06-08 | by ( Chuin-Wei Yap | ) www.wsj.com sentiment -1.00   time to read: +1 min
HONG KONG—A yearlong steep climb in commodity prices is testing an economics maxim: High prices cure themselves by spurring supply and quenching demand. Languishing commodity prices led producers to slash capital spending on major resources by nearly half over the last decade, shrinking stocks of industrial metals to two-decade lows and reducing supplies across commodities. The crunch is now converging with a buying spree in key markets to supercharge prices—and there is no quick fix. Raw-material shortages sometimes morph into broader market dysfunction that force companies to cut or shut production, as some car makers have done in recent months because of limited semiconductor supply. “It’s not how much it will cost, it’s whether or not you can get it,” said Tai Wong, analyst at BMO Capital Markets.
Persons: It’s, , Tai Wong Organizations: Schroders, stoke, BMO Capital Markets Locations: HONG KONG, U.S, China
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
China buys fewer American goods in May; trade surplus grows
  + stars: | 2021-06-07 | by ( Evelyn Cheng | ) www.cnbc.com sentiment -0.99   time to read: +1 min
China bought $13.11 billion dollars' worth of goods from the U.S. in May, down from $13.94 billion in April, data accessed through Wind Information showed. BEIJING — China bought fewer American products in May versus the prior month, while exports to the U.S. rose, according to customs data released Monday. As a result, China's trade surplus with the U.S. rose to $31.78 billion in May, up from $28.11 billion in April. China's exports to the U.S. rose to $44.89 billion in May, up from $42.05 billion in April. Overall Chinese exports also grew at a slower pace, up 27.9% in dollar terms in May from a year earlier, versus a 32.3% rate in April.
Persons: Donald Trump, Janet Yellen, Katherine Tai, Liu, Joe Biden Organizations: BEIJING —, U.S, Peterson Institute for International Economics, Treasury, Trade Locations: U.S, China, BEIJING, BEIJING — China
The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. The original vote was led by the Miguel Trujillo Lopez union, an affiliate of the Confederation of Mexican Workers (CTM). A labor ministry report last month showed GM workers in Silao were on track to scrap the contract negotiated by CTM. The head of the Miguel Trujillo Lopez union did not reply to requests for comment. (This story corrects name of union on second reference to make it “Miguel Trujillo Lopez” instead of “Miguel Lopez Trujillo” in last paragraph)Our Standards: The Thomson Reuters Trust Principles.
Persons: Rebecca Cook, Biden, Katherine Tai, Miguel Trujillo Lopez, CTM, Carlos Aceves del Olmo, Luisa Maria Alcalde, “ Miguel Trujillo Lopez ”, “ Miguel Lopez Trujillo ” Organizations: General Motors, REUTERS, General Motors Co, GM, U.S, U.S . Trade Representative, of Mexican Workers, Labor, Labor Ministry, Thomson Locations: Detroit , Michigan, U.S, Mexico, Silao, United States, Canada
Flags of Taiwan and U.S. are placed for a meeting in Taipei, Taiwan March 27, 2018. REUTERS/Tyrone SiuU.S. Secretary of State Antony Blinken on Monday signaled a possible resumption of trade and investment talks with Taiwan stalled since the Obama administration, but gave no indication of any willingness to pursue a full-scale trade pact Taipei has been seeking. At a House Foreign Affairs Committee hearing on the U.S. State Department's annual budget request, Blinken was asked about the Biden administration's position on a bilateral trade agreement with Taiwan. She said the administration had probably not made a decision on whether to take the much larger step of pursuing a bilateral trade agreement with Taiwan, however. TIFA talks stalled after former President Barack Obama left office in 2016 and his successor Donald Trump’s trade representative, Robert Lighthizer, focused on trade talks with China.
Persons: Tyrone Siu, Antony Blinken, Obama, Blinken, Biden, Katherine Tai, Bonnie Glaser, Tai, Glaser, Tsai Ing, TIFA, Barack Obama, Donald Trump’s, Robert Lighthizer Organizations: REUTERS, Tyrone, Taiwan, Foreign, U.S, U.S . State, U.S . Trade Representative, U.S . Trade, German Marshall Fund of, Biden, China, Thomson Locations: Taiwan, U.S, Taipei, Tyrone Siu U.S, U.S ., China, United States, Washington, Britain, Beijing
Ministers from Asia-Pacific trade group APEC on Saturday agreed to expedite the transit of COVID-19 vaccines and related goods, but stopped short of agreeing to remove tariffs on them. In a statement after the meeting, APEC ministers said they would "expedite the flow and transit of all COVID-19 vaccines and related goods through their air, sea and land ports." "We will consider voluntary actions to reduce the cost of these products for our people, particularly by encouraging each economy to review its own charges levied at the border on COVID-19 vaccines and related goods," the statement said. Average APEC tariffs on vaccines are low at around 0.8% but other goods important in the vaccine supply chain face higher tariffs. APEC ministers had also been expected to discuss support for the waiving of intellectual property (IP) rights for COVID-19 vaccines, an issue which is currently under negotiation at the World Trade Organization.
Persons: APEC's, Donald Trump's, Biden, Damien O'Connor, Katherine Tai, O'Connor Organizations: APEC, New Zealand, Reuters, U.S . Trade, World Trade Organization, WTO, Thomson Locations: Asia, Pacific, COVID, Zealand, China, U.S, India, South Africa
U.S. encouraged by progress toward vaccine patent waiver
  + stars: | 2021-06-05 | by ( Sonali Paul | ) www.reuters.com + 0.94   time to read: +2 min
A man receives a certificate after being vaccinated against the coronavirus disease (COVID-19) at Wilkins Hospital in Harare, Zimbabwe, March 24, 2021. REUTERS/Philimon Bulawayo/File PhotoProgress is being made towards a deal on an intellectual property waiver for COVID-19 vaccines at the World Trade Organization (WTO), U.S. Trade Representative Katherine Tai said on Saturday. In a surprise shift in May, the United States moved to supporting a patent waiver, piling pressure on opponents like the European Union and Switzerland, where many drugmakers are based. Backers of a patent waiver for COVID vaccines are looking to boost vaccine production and delivery to poorer countries that are battling a surge in COVID-19 infections and struggling to access vaccine supplies as well as diagnostics, therapeutics and medical devices. The latest draft from proponents of the waiver sets a time span for a waiver of at least three years and would allow the WTO’s 164 members to determine when it ends.
Persons: Katherine Tai, Tai, We're Organizations: Wilkins Hospital, REUTERS, Philimon, World Trade Organization, U.S . Trade, Union, European Union, WTO, Economic Cooperation, New Zealand, Thomson Locations: Harare, Zimbabwe, Philimon Bulawayo, U.S, India, South Africa, United States, Switzerland, Asia
APEC to debate proposal to remove tariffs to speed up COVID vaccine distribution
  + stars: | 2021-06-05 | by ( Sonali Paul | ) www.reuters.com sentiment -0.98   time to read: +2 min
read moreNew Zealand believes an agreement is needed to show that APEC is responsive and relevant to the crisis facing the world. Average APEC tariffs on vaccines are low at around 0.8% but other goods important in the vaccine supply chain face higher tariffs. Senior officials have been in talks since May 18 and trade ministers are holding final discussions in a virtual meeting on Saturday after which a joint statement will be issued. APEC ministers are also expected to discuss support for the waiving of intellectual property (IP) rights for COVID-19 vaccines, an issue which is currently under negotiation at the World Trade Organization. And I think as APEC economies, we certainly are going to ask for that to be considered seriously," he said.
Persons: Damien O'Connor, Donald Trump's, Biden, Katherine Tai, O'Connor Organizations: APEC, New Zealand, Reuters, U.S . Trade, World Trade Organization, WTO, Thomson Locations: Asia, Pacific, New Zealand, Zealand, China, U.S, India, South Africa
Chinese and U.S. flags flutter outside a company building in Shanghai, China April 14, 2021. REUTERS/Aly Song/File PhotoNormal discussions between China and the United States on the trade and economic fronts have resumed and both sides will start to pragmatically solve some concrete issues for producers and consumers, China's commerce ministry said on Thursday. The discussions aimed at solving various issues comes after a period of strained relations between the world's two biggest economies, including a nearly two-year tit-for-tat trade war. read moreBoth calls lasted about 50 minutes, commerce ministry spokesman Gao Feng told a regular news conference, adding that conversations started smoothly and Sino-U.S. trade, macro-economic situations and domestic policies were among the topics. China also raised its specific concerns based on the performance of its domestic economy, he said.
Persons: Aly, Liu He, Katherine Tai, Janet Yellen, Biden, Gao Feng, Gao Organizations: REUTERS, China's, U.S . Trade, Thomson Locations: Shanghai, China, United States, U.S
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