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China on Monday accused U.S. chipmaker Nvidia of violating its anti-monopoly law, a move likely to escalate already-tense trade relations between the two countries as President-elect Donald Trump prepares to take office for a second time. China's state market regulatory arm said the probe is related to Nvidia's 2019 acquisition of Mellanox, a global supplier of computer networking equipment. The U.S. and France have also opened investigations related to Nvidia's market dominance, though on different grounds. Trump has promised to levy stiff tariffs on China when he takes office. He recently picked former Georgia Sen. David Perdue, whom a Chinese think tank has accused of being "anti-China," for U.S. ambassador to China.

Persons: Donald Trump, ”, Trump, Georgia Sen, David Perdue, Peter Navarro Organizations: Monday, Nvidia, Biden, U.S Locations: China, U.S, France, Santa Clara

☆ China hits back at Biden's chip restrictions by banning shipments of key materials to the US
▼ + stars: | 2024-12-03 | by ( Robert Scammell | ) www.businessinsider.com time to read: +3 min

AdvertisementChina's Ministry of Commerce said on Tuesday it will halt shipments of key materials to the US. China's Ministry of Commerce said it was responding to fresh US chip export bans, announced Monday. China has retaliated against the Biden administration's semiconductor export controls by banning shipments of key materials to the US, ramping up the global chip war ahead of Donald Trump's second term. AdvertisementThe so-called "dual-use" materials include gallium, germanium, antimony, and superhard materials. AdvertisementChina's retaliation follows President Joe Biden's third wave of sanctions against US companies exporting materials to China's chip industry, announced on Monday.

Persons: Donald Trump's, Joe Biden's, Gina Raimondo, Trump, Logan Paul Organizations: China's, of Commerce, China's Ministry of Commerce, Biden, Geological Survey, Huawei, Semiconductor Manufacturing International Corp, Reuters, The New York Times, Department, Commerce Locations: China, Republic

☆ China is on edge after Trump's talk of tariffs
▼ + stars: | 2024-11-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

AdvertisementOn Monday, Donald Trump threatened more tariffs on China, blaming Beijing for fentanyl. China criticized Trump's tariff threats, calling them ineffective and unjustified. "The excuse the president-elect has given to justify his threat of additional tariffs on imports from China is farfetched," wrote China Daily in a Tuesday editorial. AdvertisementMarkets are muted as investors wait and seeGlobal markets were jolted following Trump's post on Truth Social on Monday, but the effects have been felt mostly in foreign exchange. Global firms and Chinese manufacturers have already been diversifying their operations to manage concentration risks following Trump's first term and the COVID-19 pandemic.

Persons: Donald Trump, Trump, he'd, George Saravelos, Goldman Sachs, Wu Zhiqiang, Young Liu, Al Jazeera Organizations: Global, Deutsche Bank, Shenzhen Lingke Technology, Nikkei Asia, Apple, Macquarie Locations: China, Beijing, United States, Shenzhen, Thailand, India, Vietnam, Taipei, Al, Southeast Asia, Africa, China's

☆ EU challenges Chinese brandy tariffs at WTO
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: +2 min

The EU Commission said on Monday it had formally brought the provisional anti-dumping measures imposed by China on imports of EU brandy to the World Trade Organization, the latest development amid trade tensions between the two blocs. France's trade ministry said last month it would work with the European Commission to challenge Beijing's tariffs, which came after the European Union voted for duties on Chinese-made electric vehicles. China's commerce ministry said it had received an EU consultation request and would handle the matter according to WTO rules. France, whose producers including LVMH , Remy Cointreau and PernodRicard , export huge amounts of spirits to the Asian country, was seen as the main targets of the brandy tariffs following Paris's outspoken support of the Commission's efforts to protect the domestic EV market. French brandy shipments to China reached $1.7 billion last year and made up 99% of China's imports of the drink.

Persons: LVMH, Remy Cointreau, Emmanuel Macron, Hennessy, Remy Organizations: Trade, EU, World Trade Organization, European Commission, European Union, EV Locations: HAIKOU, CHINA, China, Hainan, Haikou, Hainan Province, France, United States

☆ As China approaches WTO, analysts say Beijing-EU tariff spat unlikely to go 'too far'
▼ + stars: | 2024-11-05 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

Beijing will avoid escalation of its dispute with the European Union over tariffs on its electric vehicles, industry watchers said, a day after China again approached the World Trade Organization for resolution. China's commerce ministry said Monday that it had filed an additional appeal with the WTO over the EU's tariffs on its EVs, as bilateral talks have yet to lead to a breakthrough. The EU reportedly accounted for more than 40% of Chinese EV exports in 2023. EU has raised its tariffs to as much as 45.3% on Chinese EVs following an year-long investigation. The measures had prompted Beijing to target European exports such as pork, dairy and brandy products.

Persons: Shaun Rein, Sam Radwan Organizations: European Union, World Trade Organization, WTO, China Market Research, CNBC, U.S, EU, International Locations: Beijing, China, Europe, EU, Washington

☆ China and Europe's EV fight just stepped up a notch
▼ + stars: | 2024-11-04 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

China said it plans to sue the European Union after the bloc cracked down on its EV giants. The EU imposed sweeping tariffs on Chinese EV companies, including BYD, last week. The measures have raised fears that China might retaliate by slapping its own tariffs on European automakers. The EU voted to impose sweeping tariffs on Chinese EV companies like BYD in October. Advertisement"With this in mind, the Commission takes note of the request for WTO consultations lodged by China.

Persons: —, Xpeng Organizations: European Union, EV, Service, World Trade Organisation, EU, WTO, Business, Commission, Volkswagen, BMW, Mercedes Locations: China, European, Europe, Hungary, Turkey

☆ China 'does not agree or accept' the EU's EV tariffs, says negotiations are still ongoing
▼ + stars: | 2024-10-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

The EU and China have reportedly agreed to start talks on the planned imposition of tariffs on Chinese-made EVs. China's commerce ministry said it "does not accept" tariffs imposed by the European Union on Chinese electric vehicles, after the bloc increased tariffs on Chinese EVs to as high as 45.3% on Wednesday. The commerce ministry said "China will continue to take all necessary measures to resolutely safeguard the legitimate rights and interests of Chinese companies." China's commerce ministry also highlighted the EU has indicated it will continue to negotiate with China, adding that both sides are conducting a new round of consultations. On Oct. 25, Reuters reported the two sides were looking at possible minimum price commitments from Chinese producers or investments in Europe as an alternative to tariffs.

Persons: Xpeng Organizations: European Union, SAIC Motor, EU, World Trade Organization, Reuters Locations: Taicang Port, Suzhou, China's, Jiangsu Province, EU, China, Europe

☆ China threatens Taiwan with more trade measures after denouncing president's speech
▼ + stars: | 2024-10-12 | by ( ) www.cnbc.com time to read: +2 min

China is studying further trade measures against Taiwan, the Ministry of Commerce said on Saturday, two days after Beijing slammed a speech by Taiwan President Lai Ching-Te. The Democratic Progressive Party, Taiwan's ruling party, has not taken any practical measures to lift "trade restrictions" on mainland China, the commerce ministry said in a statement on its official website. "At present, relevant departments are studying further measures based on the conclusions of the investigation into trade barriers from Taiwan (against mainland China)," it added. The Saturday announcement from China's commerce ministry could portend tariffs or other forms of economic pressure against the island in the near future. In May, China reinstated tariffs on 134 items it imports from Taiwan, after Beijing's finance ministry said it would suspend concessions on the items under a trade deal because Taiwan had not reciprocated.

Persons: Lai Ching, detests Lai, Lai Organizations: Taiwan, Ministry of Commerce, Democratic Progressive Party, Taiwan Affairs Office, Reuters Locations: China, Beijing, Taiwan, People's Republic of China

☆ China launches probe into Calvin Klein parent over Xinjiang supply chain ‘disruptions’
▼ + stars: | 2024-09-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 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. BEIJING — China's Ministry of Commerce said Tuesday it was launching a probe into Calvin Klein-parent PVH Group over alleged business disruptions around its Xinjiang supply chain. China's Commerce Ministry on Tuesday did not state why it was probing PVH now, but said the U.S. retail group had 30 days to respond. U.S. defense companies that previously landed on the "unreliable entities" list are barred from China-related imports or exports. PVH did not immediately respond to a CNBC request for comment outside of U.S. business hours.

Persons: Calvin Klein, PVH Organizations: Bund, BEIJING — China's Ministry of Commerce, PVH Group, Huawei, U.S . Commerce, U.S, The U.S . Commerce Department, Monday, China's Commerce, CNBC Locations: Shanghai, China, BEIJING, Xinjiang, Russia, U.S

☆ China begins anti-dumping probe into Canadian rapeseed
▼ + stars: | 2024-09-10 | by ( ) www.cnbc.com time to read: +1 min

Cooking oils made from canola from Canada and soybeans are offered for sale at a grocery store on April 26, 2022 in Chicago, Illinois. China announced on Monday the start of a one-year anti-dumping investigation into imports of rapeseed from Canada, just weeks before Ottawa's 100% tariffs on Chinese-made electric vehicles and other products come into force. There has been growing trade tension between Beijing and the West in recent weeks after Canada, the United States and the European Union opted to impose tariffs on imports of electric vehicles from China. While noting that Canada adheres to "rules-based trade," Canadian Minister of Agriculture Lawrence MacAulay said the country's products meet the highest standards and its inspection systems are robust. Chinese President Xi Jinping met with Spanish Prime Minister Pedro Sanchez on Monday in a bid to avoid a broad trade war.

Persons: Agriculture Lawrence MacAulay, Xi Jinping, Pedro Sanchez Organizations: European Union, Agriculture, Spanish Locations: Canada, Chicago , Illinois, China, rapeseed, Beijing, United States

☆ EU and China set for talks on planned electric vehicle tariffs
▼ + stars: | 2024-06-23 | by ( ) www.cnbc.com time to read: +5 min

The EU and China have reportedly agreed to start talks on the planned imposition of tariffs on Chinese-made EVs. Germany's Economy Minister Robert Habeck said he had been informed by EU commissioner Valdis Dombrovskis that there would be concrete negotiations on tariffs with China. The minister had said earlier on Saturday that the European Union's door was open for discussions regarding EU tariffs on Chinese exports. Proposed EU tariffs on Chinese goods are not a "punishment", Habeck told Chinese officials earlier in Beijing. Proposed EU duties on Chinese-made EVs would hurt both sides, Zheng added.

Persons: Robert Habeck, Valdis, Wang Wentao, Habeck, Habeck's, Zheng Shanjie, Zheng, Valdis Dombrovskis Organizations: Afp, Getty Images, European Union, Germany's, EU, European Commission, Russia, National, Reform Commission, Chinese Commerce, EU Trade Locations: Taicang Port, Suzhou, China's, Jiangsu Province, EU, China, Getty Images China, Shanghai, Beijing, Brussels, Berlin, Ukraine, Russia, Europe, U.S, Brazil, Turkey, Germany

☆ Western countries are lining up to name and shame China for overproduction
▼ + stars: | 2024-05-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

Read previewWestern countries are lining up to call out China for its barrage of cheap exports that are flooding the world's markets. "We will continue to monitor the potential negative impacts of overcapacity and will consider taking steps to ensure a level playing field, in line with World Trade Organization (WTO) principles." China pushes back on criticism, industrial profits rose in AprilBeijing has consistently resisted the West's criticism that it is dumping cheap goods on the world market. Chinese authorities say the West's accusations are protectionist and aimed at containing China's economic growth. In April, profits at China's industrial companies rose 4% from a year ago, reversing a drop in March, according to official statistics released on Monday.

Persons: —, Janet Yellen, Olaf Scholz, Bruno Le Maire, Yu Weining, Joe Biden, Biden, Josh Lipsky, Lipsky Organizations: Service, Business, EU, Bloomberg, World Trade Organization, China's Commerce Ministry, European Commission, International Monetary Fund Locations: China, France, Stresa, Italy, Beijing, United States

☆ China slams U.S. probe into its shipbuilding industry, says move is a 'mistake on top of a mistake'
▼ + stars: | 2024-04-18 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

China said it "firmly opposes" the U.S. investigation into its maritime, logistics and shipbuilding industries, calling the move a "mistake on top of a mistake." In an official statement late Wednesday, China's ministry of commerce said the U.S. provides hundreds of billions of dollars in "discriminatory" subsidies to its domestic industries, "yet accuses China of adopting so-called 'non-market practices.'" "In fact, the development of China's industries is the result of companies' technological innovation and active participation in market competition," the Chinese ministry said. On Wednesday, the Office of the U.S. Trade Representative initiated a probe into China's maritime, logistics and shipbuilding industries, alleging that Beijing used "unfair, non-market policies and practices" to dominate these sectors. "By launching a new Section 301 investigation, the U.S. is making a mistake on top of a mistake," the China's commerce ministry said.

Persons: Joe Biden, Xi Jinping, China's Organizations: Economic Cooperation, U.S . Trade, Trade Locations: Asia, Woodside , California, China, U.S, Beijing

☆ China to help electric vehicle industry respond to foreign trade restrictions
▼ + stars: | 2024-02-07 | by ( ) www.cnbc.com time to read: +1 min

Rows of new energy vehicles are parked at Changan Automobile's vehicle distribution center in Chongqing, China, on Jan. 14, 2024. China's commerce ministry said on Wednesday it would encourage the new energy vehicle industry to "actively" respond to foreign trade restrictions and cooperate with overseas firms, amid a European probe into Chinese subsidies for the sector. The ministry issued guidelines that also encouraged automakers to set up R&D and after-sales service centers abroad, to collaborate with foreign partners in building up supply chains, and to work more closely with shipping companies on transportation logistics. Under the measures, Chinese banks would be encouraged to expand domestic and overseas services for automakers and their supply chains, including the scale of cross-border RMB settlements. The ministry also said it would optimize export procedures for NEVs and batteries.

Locations: Chongqing, China

☆ China pledges deeper trade ties with Vietnam
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Nov 26 (Reuters) - Chinese Commerce Minister Wang Wentao pledged to deepen bilateral trade ties with Vietnam during a meeting with Vietnamese Prime Minister Pham Minh Chinh in Ho Chi Minh City on Saturday, China's commerce ministry said. China and the United States have been jostling for influence among Southeast Asian nations including Vietnam, which in September elevated its ties with Washington to a comprehensive strategic partnership, putting its one-time enemy on par with Beijing and Moscow. Chinese Vice Foreign Minister Sun Weidong held "frank and friendly talks" on bilateral ties, land borders and maritime issues with Vietnam's Deputy Foreign Minister Nguyen Minh Vu in Hanoi earlier this month. Wang also met Ho Chi Minh City's Vietnamese Communist Party secretary Nguyen Van Nen on Saturday, the Chinese commerce ministry said. Reporting by Laurie Chen; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

Persons: Wang Wentao, Pham Minh, Wang, Sun Weidong, Nguyen Minh Vu, Xi Jinping, Ho, Nguyen Van Nen, Laurie Chen, Edmund Klamann Organizations: Commerce, Vietnamese, Beijing, Foreign, Vietnam's, Reuters, Communist Party, Thomson Locations: BEIJING, Vietnam, Ho Chi Minh City, China, United States, Washington, Moscow, Hanoi

☆ China Pledges Deeper Trade Ties With Vietnam
▼ + stars: | 2023-11-25 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

BEIJING (Reuters) - Chinese Commerce Minister Wang Wentao pledged to deepen bilateral trade ties with Vietnam during a meeting with Vietnamese Prime Minister Pham Minh Chinh in Ho Chi Minh City on Saturday, China's commerce ministry said. Wang said China-Vietnam trade cooperation had already achieved "fruitful results" and would include strategic areas such as the digital economy, green development and cross-border e-commerce, according to a readout published late Saturday by the Chinese ministry. China and the United States have been jostling for influence among Southeast Asian nations including Vietnam, which in September elevated its ties with Washington to a comprehensive strategic partnership, putting its one-time enemy on par with Beijing and Moscow. Chinese Vice Foreign Minister Sun Weidong held "frank and friendly talks" on bilateral ties, land borders and maritime issues with Vietnam's Deputy Foreign Minister Nguyen Minh Vu in Hanoi earlier this month. Wang also met Ho Chi Minh City's Vietnamese Communist Party secretary Nguyen Van Nen on Saturday, the Chinese commerce ministry said.

Persons: Wang Wentao, Pham Minh, Wang, Sun Weidong, Nguyen Minh Vu, Xi Jinping, Ho, Nguyen Van Nen, Laurie Chen, Edmund Klamann Organizations: Commerce, Vietnamese, Beijing, Foreign, Vietnam's, Reuters, Communist Party Locations: BEIJING, Vietnam, Ho Chi Minh City, China, United States, Washington, Moscow, Hanoi

BEIJING, Nov 17 (Reuters) - China's commerce minister expressed concern over U.S. curbs on semiconductor exports to China, as well as sanctions on Chinese firms and tariffs on Chinese imports, when he met U.S. Commerce Secretary Gina Raimondo on Thursday, his ministry said Friday. "Wang Wentao expressed concern about the final rules of the U.S. semiconductor export controls against China, sanctions against Chinese companies, two-way investment restrictions, and Section 301 tariffs," according to China's commerce ministry. Two-way trade hit a record $690 billion last year, as U.S. demand for Chinese consumer goods rose and Beijing's demand for U.S. farm products and energy grew. This year is off to a significantly slower pace, however, with two-way trade flows through September down $104 billion, or 19%, from the first nine months of 2022, according to U.S. Census Bureau data. Wang and Raimondo also agreed to hold the first meeting of a commerce working group at the vice minister level in the first quarter of 2024, China's commerce ministry said.

Persons: Gina Raimondo, Wang Wentao, Raimondo, Joe Biden, Trump, Wang, Joe Cash, Christopher Cushing, Mark Potter Organizations: U.S, Commerce, Southeast, China, Census, Thomson Locations: BEIJING, China, San Francisco, Southeast Asia, U.S, Canada, Mexico

☆ China's economy stumbled again in recent months with factory activity falling and foreign investment plunging 34%
▼ + stars: | 2023-10-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

China's economy has stumbled since coming out of the country's COVID-19 lockdown late last year. Factory activity declined in October, while foreign investment tumbled 34% in September. Experts say the nation is at risk of a debt-deflation crisis that could produce a "lost decade" for its economy. AdvertisementAdvertisementData from September and October show China's economy stumbling further, with factory activity falling and foreign investment seeing a significant decline. Factory activity dropped through the month of October, with China's manufacturing purchasing managers' index falling to restrictive territory at 49.5.

Persons: — Organizations: Service, China's Commerce Ministry, Ministry, CSI Locations: China, Beijing, freefall

☆ U.S. senators led by Majority Leader Schumer make first congressional visit to China since 2019
▼ + stars: | 2023-10-07 | by ( ) www.cnbc.com time to read: +3 min

Senator Mike Crapo (R-ID) and other members of the delegation arrive at Shanghai Pudong International Airport in Shanghai, China, on Oct. 7, 2023. A delegation of U.S. lawmakers led by Senate Majority Leader Chuck Schumer arrived in China on Saturday in the first congressional visit to the country since 2019. Asked about his expectations for the visit, Schumer, a New York Democrat, said he hoped it would be productive. The U.S. Commerce Department added the Chinese companies and seven others to its entity list on Friday. A Chinese international relations expert said that Schumer's visit is a sign of improvement in China-U.S. relations.

Persons: Chuck Schumer, Mike Crapo, Joe Biden, Xi Jinping, Idaho Sen, Schumer, Biden, Xi, Wang Yiwei, Karine Jean, Pierre Organizations: International, U.S, Senate, Republicans, Idaho, Senate Finance, New, New York Democrat, U.S . Congress, U.S . Commerce Department, Ukraine, Biden, Economic Cooperation, Institute of International Affairs, Renmin University of China, White House Press Locations: U.S, Shanghai, China, New York, Beijing, Russia, Asia, San Francisco, South Korea, Japan

☆ How surging trade with China is boosting Russia’s war
▼ + stars: | 2023-09-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +15 min

Mikhail Tereshchenko | Afp | Getty ImagesThe defense ministries of China and Russia did not respond to CNBC's request for comment on the trade flows. Trade of 'dual-use' goods spikesTotal bilateral trade between Russia and China hit a record high of $190 billion in 2022, up 30% from 2021. Semiconductor sales to Russia from China and Hong Kong more than doubled in 2022 as Western sanctions took hold. Meantime, construction equipment has played an "underappreciated" but significant role in China's contribution to Russia's war efforts, having helped bolster its defenses against Ukraine's counteroffensive, Joseph Webster, senior fellow at the Atlantic Council, said. The findings add to the growing list of Chinese goods and companies reported to be supplying Russia's military, including state-owned enterprises.

Persons: Vladimir Putin's, Mark Cancian, Vladimir Putin, Xi Jinping, Mikhail Tereshchenko, Wang Yi, China's, Putin, Li Shangfu, —, Qilai Shen, Antonia Hmaidi, Cancian, they've, Hong Kong Retekess, Legittelecom, It's, Silva, Hmaidi, Joseph Webster, Webster, that's, Ramzan Kadyrov, Russia's Organizations: CNBC, for Strategic, International Studies, Kremlin, Afp, Getty, Ukraine's Defense Ministry, Ukrainian Armed Forces, Bank of Finland's Institute, Emerging, Semiconductor, CNBC CNBC, Federal, Service, SZ DJI Technology, Robotics, Iflight, SZ, Technology, Bloomberg, Rostov, R Technology, Beijing KRnatural International Trade Co, Mercator Institute for China Studies Defense, Industry, Hong, Mercator Institute for China Studies, Moscow, ImportGenius, Ukraine's, Atlantic Council, Atlantic, U.S, China Taly Aviation Technologies, China Poly Technologies, EU, Beijing, National Security Council Locations: Ukraine, China, Washington, Russian, Moscow, Russia, Beijing, U.S, Kyiv, Hong Kong, Shenzhen, DJI, Liaoning, Shanghai, Berlin, Buryatia, Hubei, Korea, Pyongyang, Russia's, Amur, Chechen Republic, Qianwan, Qingdao Port, Shandong Province, deniability

☆ China denounces Europe probe of EVs as 'naked protectionist' act
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Nio ET5 electric vehicle is displayed at the Chinese EV maker's showroom in Shanghai, China, February 3, 2023. The investigation launched on Wednesday will determine if punitive tariffs are warranted to protect EU producers from what European Commission President Ursula von der Leyen described as a "flood" of cheaper Chinese EV imports. "It is a naked protectionist act that will seriously disrupt and distort the global automotive industry and supply chain, including the EU, and will have a negative impact on China-EU economic and trade relations." The probe, initiated by the European Commission and not from any industry complaint, will further irritate a tense relationship with China partly strained by trade and investment imbalances. Reporting by Ryan Woo; additional reporting by Ellen Zhang; Editing by Clarence Fernandez and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Ursula von der Leyen, Ryan Woo, Ellen Zhang, Clarence Fernandez, Jamie Freed Organizations: EV maker's, REUTERS, Rights, European, EV, EU, European Commission, Thomson Locations: Shanghai, China, Rights BEIJING, European Union, EU

HONG KONG (AP) — China's Commerce Ministry has protested a decision by the European Union to investigate exports of Chinese electric vehicles, saying Thursday that it is a “protectionist” act aimed at distorting the supply chain. The EU announced Wednesday it will probe government subsidies provided to Chinese automakers that the EU contends keep EV prices artificially low. China has become the biggest market for electric vehicles after investing billions in subsidies to gain an edge. “It’s naked protectionist behavior that will seriously disrupt and distort the global automotive industrial chain and supply chain including the European Union, and will have a negative impact on China–EU economic and trade relations,” he said. Cui urged the EU to take an “objective view of the development of China’s electric vehicle industry” instead of using what he said are economic and trade tools to increase the costs of Chinese electric vehicles in Europe.

Persons: Yadong, “, ”, Cui Dongshu, ” Cui, Cui Organizations: —, Commerce, European Union, EU, China Passenger Car Association Locations: HONG KONG, China, EVs, Japan, Europe, Beijing, EU

☆ Factbox: China's measures to shore up a faltering economy, more support expected
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +4 min

- China stepped up measures to boost the country's faltering economy, with top banks paving the way for further cuts in lending rates. Aug. 25 -China's cabinet on Friday approved guidelines for planning and construction of affordable housing at a meeting chaired by Premier Li Qiang. July 24- China's top leaders, at a Politburo meeting, pledged to step up support for the economy, signalling more stimulus steps. July 24 - China's state planner unveiled measures to support private investment in some infrastructure sectors and said it will strengthen financing support for private projects. July 14 - China's cabinet approved guidelines for improving the building of public infrastructure in megacities, to help support the economy and cope with future public health crises.

Persons: Premier Li Qiang, Kevin Yao, Shri Navaratnam Organizations: Premier, Communist Party, Thomson Locations: BEIJING, China, megacities

LONDON, Aug 23 (Reuters) - The United States and China may feel some financial detente is wise at this point - even if goading one another plays well domestically. But elements of the once-feared bind of 'mutally-assured financial destruction' (MAFD) still apply. Pulling the rug out from under either - battering U.S. and Chinese demand in effect - seems to make little economic sense at least. America had new markets and investments and a seemingly durable new creditor that kept borrowing rates low and consumption up. Falling China Share of Foreign US Treasury HoldingsChina FX Reserves vs Global ReservesUS Treasury Debt Climbs as Fed Pulls Back'MAFD'But is that where the situation has landed post-pandemic?

Persons: Larry Summers, Summers, Goldman Sachs, Jim O'Neill, O'Neill, Gina Raimondo's, Stephen Jen, Eurizon SLJ, Treasuries, Deepa Babington Organizations: U.S . Treasury Securities, ., Treasury, Foreign US Treasury Holdings China FX, Global Reserves, U.S ., Commerce, U.S, Reuters Graphics Reuters, Reuters, Thomson Locations: United States, China, Washington, Ukraine, Taiwan, Hong Kong, U.S, Beijing, America

☆ Chinese duties on U.S. imports 'inconsistent' with WTO obligations
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

A logo is seen at the World Trade Organization (WTO) headquarters before a news conference in Geneva, Switzerland, October 5, 2022. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsGENEVA, Aug 16 (Reuters) - A World Trade Organization (WTO) dispute settlement panel on Wednesday found that China had acted inconsistently with its WTO obligations by imposing additional duties on certain U.S. imports in response to U.S. tariffs on steel and aluminium. China's Commerce Ministry said it had noted the WTO panel decision and demanded that the United States immediately lift tariffs imposed on steel and aluminium imports. The U.S. imposed a 25% duty on steel imports and a 10% duty on aluminium imports in March 2018 based on the Donald Trump administration's "Section 232" national security investigation into steel and aluminium imports. In response to the U.S. duties, China announced that additional duties of between 15% and 25% would apply to certain imports originating in the United States, a measure challenged by Washington.

Persons: Denis Balibouse, Donald Trump, Joe Biden's, Gabrielle Tétrault, Farber, Susan Heavey, Ella Cao, Rachel More, Devika Syamnath, Sharon Singleton Organizations: World Trade Organization, REUTERS, Rights, Trade Organization, U.S . Trade, WTO, Ministry, U.S, Washington, United, Thomson Locations: Geneva, Switzerland, China, United States, Beijing, U.S, Washington

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