Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "U.S . Trade"


25 mentions found


Highlights of the 17-year Airbus, Boeing trade war
  + stars: | 2021-06-15 | by ( ) www.reuters.com + 0.00   time to read: +7 min
2004The U.S. seeks talks with the EU and Airbus (AIR.PA) host nations Britain, France, Germany and Spain over alleged unfair subsidies via government loans. Washington terminates a 1992 U.S.-EU agreement covering support for Airbus and Boeing (BA.N). 2005The WTO launches twin probes into public support for Boeing and Airbus after bilateral negotiations fail. 2018In May, the WTO again rules that the EU has failed to halt all subsidies to Airbus. 2019In March, the WTO says the United States has again failed to halt subsidized tax breaks to Boeing in Washington state.
Persons: Robert Lighthizer, Andrea Shalal, Tim Hepher, David Evans, Keith Weir, Daniel Wallis Organizations: European Union, Wednesday, planemaker Boeing, Airbus, World Trade Organization, EU, Washington, Boeing, WTO, U.S ., NASA, U.S, United, European Commission, U.S . Trade, Washington State, Thomson Locations: United States, China, Britain, France, Germany, Spain, U.S, EU, Washington, Brussels, Europe
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
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
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
WASHINGTON—The Biden administration’s long-awaited review of tariff policy can’t come soon enough for an Ohio bedding maker, which says it is being pummeled by U.S. levies on imported Chinese feathers. The family-owned business, Down-lite International Inc., won an exclusion from import tariffs last spring after arguing that there are few other places besides China where it can get the feathers it needs to stuff its quilts, comforters and other bedding. The exclusions that were granted to Down-lite and thousands of other U.S. companies expired by late last year, however, and the U.S. Trade Representative’s Office says it won’t consider granting new exclusions until it completes a top-to-bottom review of tariffs on these and other Chinese imports imposed by the Trump administration. Meanwhile, no tariffs were ever imposed on many of the finished bedding products from China—such as down-filled comforters and quilts, mattress pads, feather beds and sleeping bags—putting Down-lite at a disadvantage to its Chinese competitors in many of the company’s key products. “It’s basically just helping the Chinese right now while hurting U.S. manufacturing,” said Josh Werthaiser, president of Down-lite’s feather and down division.
Persons: WASHINGTON —, Biden, can’t, won’t, Trump, It’s, , Josh Werthaiser Organizations: U.S . Trade Representative’s, Down Locations: Ohio, China
WASHINGTON—The Biden administration’s long-awaited review of tariff policy can’t come soon enough for an Ohio bedding maker, which says it is being pummeled by U.S. levies on imported Chinese feathers. The family-owned business, Down-lite International Inc., won an exclusion from import tariffs last spring after arguing that there are few other places besides China where it can get the feathers it needs to stuff its quilts, comforters and other bedding. The exclusions that were granted to Down-lite and thousands of other U.S. companies expired by late last year, however, and the U.S. Trade Representative’s Office says it won’t consider granting new exclusions until it completes a top-to-bottom review of tariffs on these and other Chinese imports imposed by the Trump administration. Meanwhile, no tariffs were ever imposed on many of the finished bedding products from China—such as down-filled comforters and quilts, mattress pads, feather beds and sleeping bags—putting Down-lite at a disadvantage to its Chinese competitors in many of the company’s key products. “It’s basically just helping the Chinese right now while hurting U.S. manufacturing,” said Josh Werthaiser, president of Down-lite’s feather and down division.
Persons: WASHINGTON —, Biden, can’t, won’t, Trump, It’s, , Josh Werthaiser Organizations: U.S . Trade Representative’s, Down Locations: Ohio, China
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
Commuter buses are parked outside the Tridonex auto-parts plant, owned by Philadelphia-based Cardone Industries, in Matamoros, Mexico January 25, 2021. REUTERS/Daina SolomonWASHINGTON (Reuters) - The United States asked Mexico on Wednesday to review whether workers at an auto parts factory were denied labor rights in the second labor complaint brought by the Biden administration under the new North American trade deal in less than a month. The U.S. Trade Representative’s office said it made the request involving the Tridonex auto parts factory in the northern border city of Matamoros after the AFL-CIO union federation petitioned the agency to review the case over allegations that the factory denied workers collective bargaining and free association rights.
Persons: Daina Solomon WASHINGTON, Biden Organizations: Cardone Industries, REUTERS, United, U.S . Trade, AFL Locations: Philadelphia, Matamoros, Mexico, United States, American
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
WASHINGTON — The Biden administration is set to announce a series of steps designed to strengthen critical U.S. supply chains on Tuesday, building up domestic manufacturing capabilities for key products and addressing existing vulnerabilities. In February, President Joe Biden ordered a 100-day interagency review of domestic supply chains. The Department of Interior will lead a task force to identify sites where critical minerals could be produced and processed in the United States." Along with these efforts to bolster domestic supply chains, the Biden administration will also announce new steps to combat "unfair foreign trade practices," which it says have contributed to the erosion of supply chains around the world. "We're looking at very targeted products where we think there are effective tools we could deploy to strengthen our own supply chains and reduce vulnerabilities."
Persons: Joe Biden, WASHINGTON —, Biden, Donald Trump Organizations: Cuyahoga Community College Manufacturing Technology, Department of Energy, Technology Vehicles Manufacturing, Interior, Department of Health, Human Services, Defense, Department of Labor, The Department, Energy, DOE, U.S . Trade, Department of Commerce Locations: Cleveland , Ohio, WASHINGTON, U.S, United States, China
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
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
WELLINGTON (Reuters) - New Zealand is pushing Asia-Pacific trade group APEC to remove all tariffs on COVID-19 vaccines and related medical products, a person familiar with discussions said, but is facing opposition from some members who believe the plan is too ambitious. The members are also likely to say something “strongly supportive” of waiving intellectual property rights for COVID-19 vaccines, the person said. A trade ministry official at another participating country said members were still negotiating what to put in the joint statement. Although average tariffs on vaccines are low within APEC, only about 0.8%, tariffs are much higher for goods important in the vaccine supply chain. The consensus-based APEC has struggled to reach agreements in recent years amid then-President Donald Trump’s trade war with China.
Persons: Chris Quinn, Sandra Sanders, , Phil Twyford, Djatmiko Bris Witjaksono, Donald Trump’s, Joe Biden, Trump Organizations: WELLINGTON, Reuters, APEC, Pfizer, REUTERS, Economic Cooperation, U.S . Trade, New, State for Trade, Export Locations: New Zealand, Asia, Pacific, Melbourne, Australia, United States, China, Russia
REUTERS/Sandra Sanders/File PhotoNew Zealand is pushing Asia-Pacific trade group APEC to remove all tariffs on COVID-19 vaccines and related medical products, a person familiar with discussions said, but is facing opposition from some members who believe the plan is too ambitious. The members are also likely to say something "strongly supportive" of waiving intellectual property rights for COVID-19 vaccines, the person said. A trade ministry official at another participating country said members were still negotiating what to put in the joint statement. Although average tariffs on vaccines are low within APEC, only about 0.8%, tariffs are much higher for goods important in the vaccine supply chain. The consensus-based APEC has struggled to reach agreements in recent years amid then-President Donald Trump’s trade war with China.
Persons: Chris Quinn, Sandra Sanders, , Phil Twyford, Djatmiko Bris Witjaksono, Donald Trump’s, Joe Biden, Trump Organizations: Pfizer, REUTERS, APEC, Economic Cooperation, U.S . Trade, Reuters, New, State for Trade, Export, Thomson Locations: Melbourne, Australia, Zealand, Asia, Pacific, New Zealand, United States, China, Russia
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
China upbeat on trade talks with U.S., says both 'seek common ground'
  + stars: | 2021-06-03 | by ( ) www.reuters.com + 0.97   time to read: +2 min
Chinese and U.S. flags flutter outside a company building in Shanghai, China April 14, 2021. REUTERS/Aly Song/File PhotoChina hailed on Thursday the resumption of "normal discussions" with the United States on the trade and economic fronts, apparently keen to move beyond a trade war as it said both sides aimed to resolve issues pragmatically. The discussions aimed at solving various issues come after a period of strained relations between the world's two biggest economies, including a nearly two-year tit-for-tat trade war. "China and the United States have resumed normal discussions on economics and trade," Gao told reporters. The United States issued terse statements on the talks that emphasised candid exchanges with the Chinese side.
Persons: Aly, Liu He, Katherine Tai, Janet Yellen, Biden, Gao Feng, Gao, Tai, Liu Organizations: REUTERS, U.S . Trade, United, Global Times, Thomson Locations: Shanghai, China, United States, U.S, Alaska
U.S. sets and suspends tariffs on six countries over digital taxes
  + stars: | 2021-06-02 | by ( David Lawder | ) www.reuters.com sentiment -0.99   time to read: +2 min
REUTERS/Lucy Nicholson/File PhotoThe United States on Wednesday announced 25% tariffs on over $2 billion worth of imports from six countries over their digital services taxes, but immediately suspended the duties to allow time for international tax negotiations to continue. USTR published lists of imports from the six countries that would face tariffs if international tax negotiations fail to reach a solution that prohibits countries from imposing unilateral digital services taxes. USTR said it would impose tariffs on goods worth $323 million from Spain, $310 million from Turkey, $118 million from India and $65 million from Austria. The potential tariffs, based on 2019 import data, aim to equal the amount of digital taxes that would be collected from U.S. firms, a USTR official said. U.S. tariffs threatened against France over its digital tax were suspended in January.
Persons: Lucy Nicholson, USTR, Tai Organizations: Port, REUTERS, Wednesday, U.S . Trade, U.S, France, OECD, Thomson Locations: Port of Long Beach, Port of Los Angeles, Los Angeles , California, U.S, States, Britain, Italy, Spain, Turkey, India, Austria, London
Total: 25