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☆ Biden administration set to revamp Trump’s tariff program after multi-year review, sources say
▼ + stars: | 2024-05-10 | by ( Kayla Tausche | ) edition.cnn.com time to read: +5 min

Washington CNN —The Biden administration is set to unveil a sweeping restructuring of former President Donald Trump’s trademark tariffs on Chinese imports, according to sources familiar with the matter. “The Biden administration has neutralized China as a campaign issue,” said Hodge, now a managing director at Bully Pulpit International. Tariffs are essentially a tax on US businesses and consumers, adding to the cost of imported goods. More than half of the duties have been collected during the Biden administration. The Biden administration had planned to release the results of the review in advance of the Pittsburgh speech, the sources familiar with the matter said, but ended up delaying the release.

Persons: Washington CNN —, Biden, Donald Trump’s, Joe Biden refines, Trump, Adam Hodge, “, ”, Hodge, –, ” Biden, Janet Yellen, Antony Blinken, Clete Willems, Akin Gump, Willems Organizations: Washington CNN, US Trade Representative, Biden’s National Security Council, US Trade, Treasury, Commerce, Trump, US Customs, “ Steel, Seven, European Union, National Economic Council, EU, European Commission, Treasury Department Locations: China, Pittsburgh, Italy, Puglia

☆ Hike tariffs on Chinese EVs, Senate Democrats urge Biden administration
▼ + stars: | 2024-03-08 | by ( ) www.cnbc.com time to read: +1 min

Three Senate Democrats from auto manufacturing states on Thursday urged the Biden administration to hike import tariffs on Chinese electric vehicles to address national security risks, the latest push by lawmakers to protect the U.S. auto sector. Three Senate Democrats from auto manufacturing states on Thursday urged the Biden administration to hike import tariffs on Chinese electric vehicles to address national security risks, the latest push by lawmakers to protect the U.S. auto sector. "Artificially low-priced Chinese EVs flooding the U.S. would cost thousands of American jobs and endanger the survival of the U.S. automotive industry as a whole." Auto industry officials told Reuters last month Biden is considering hiking tariffs on Chinese EVs and the letter is the latest in growing pressure on the White House to take further steps to prevent Chinese vehicle imports. The senators also asked Commerce to focus on the threat from potential imports of "highly connected Chinese vehicles and high-risk China-controlled connected and autonomous technologies."

Persons: Biden, Gary Peters, Debbie Stabenow of, Sherrod Brown, Gina Raimondo, Katherine Tai, USTR Organizations: Reuters, Auto, . Trade, Commerce Locations: U.S, Debbie Stabenow of Michigan, Sherrod Brown of Ohio, China

☆ Think falling prices would help? They could destroy an economy. Just ask China
▼ + stars: | 2024-02-15 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

China, however, is having a different problem: Prices are falling at their fastest rate in 15 years. No, that wasn’t a typo, falling prices are a problem when they’re widespread across an economy, like in China, which is experiencing what’s known as deflation. At first glance, falling prices may sound good. Like the US Federal Reserve, most central banks target a 2% annual rate of inflation, not zero inflation whatsoever. “In a deflationary environment monetary policy may not be able to sufficiently stimulate the economy by using its interest rate instrument.

Persons: — Organizations: New, New York CNN, US Federal Reserve, European Central Bank Locations: New York, China

Then came the Hamas attack against Israel, which has made Netanyahu’s late October trip uncertain and put Beijing's Middle East approach to the test. China’s stated neutrality on the war has upset Israel, but Beijing may gain in the long run by forging closer ties with Arab countries, experts said. “For a while at least, Beijing’s Middle East policy is paralyzed by the war,” said Shi Yinhong, professor of international relations at Beijing-based Renmin University of China. “China’s engagement in the Middle East is set to increase during this conflict. Because we need to be the bridge.”But China's proposals to end the war have been seen as benefiting Russia.

Persons: Xi Jinping, Benjamin Netanyahu, China’s, Israel, ”, Shi Yinhong, hasn't, Zhai Jun, Zhai, ” Wang Yi, ” Wang, Antony Blinken, Wang, Maria Papageorgiou, Mohammad Eslami, “, Tuvia, ” Gering, Wang Yiwei, Dale Aluf, China's, Aluf, Yaqiu Wang, Ken Moritsugu, Wanqing Chen, Matthew Lee Organizations: WASHINGTON, —, Renmin University of China, State Department, Hezbollah, University of Exeter, University Minho, Israel, China Policy Center, Institute for National Security, Kremlin, Renmin University, Israel Global Network, Freedom, Associated Press, AP Locations: Beijing, China, Israel, U.S, Iran, Tel Aviv, Palestine, Ukraine, Xinjiang, Xi, Saudi Arabia, United States, Russia, Hong Kong, Taiwan, Communist, Riyadh

☆ Kenya to ask China for $1 bln loan to complete road projects, longer debt repayments
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

A view shows the Jomo Kenyatta International Airport toll station on the Nairobi Expressway undertaken by the China Road and Bridge Corporation (CRBC) on a public-private partnership (PPP) basis, along Mombasa road in Embakasi district of Nairobi, Kenya May 7, 2023. REUTERS/Thomas Mukoya/File Photo Acquire Licensing RightsNAIROBI, Oct 6 (Reuters) - Kenya's President William Ruto will ask China for a $1 billion loan to complete stalled road construction projects when he travels to Beijing later this month, his deputy said on Friday. "At the moment we are paying debt and people are not using roads because many of them are half finished," Gachagua said. Kenya owes China more than $8 billion in loans for infrastructure projects such as railways and roads. Reporting by Duncan Miriri and George Obulutsa; Editing by Mark Potter and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Mukoya, William Ruto, Ruto, Rigathi Gachagua, Gachagua, Duncan Miriri, George Obulutsa, Mark Potter, Kim Coghill Organizations: Jomo Kenyatta International Airport, China, Bridge Corporation, REUTERS, Rights, Thomson Locations: Nairobi, Mombasa, Embakasi district, Kenya, Rights NAIROBI, Beijing, East, China

☆ Exclusive: EU to ask China at UN to push Russia towards 'just peace' in Ukraine
▼ + stars: | 2023-09-20 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +1 min

UNITED NATIONS, Sept 20 (Reuters) - European Council President Charles Michel will ask China directly at the United Nations Security Council to do more to push Russia towards a "just peace" in Ukraine, according to his draft speech seen by Reuters at the UNGA. Ukrainian President Volodymyr Zelenskiy is also expected to attend the council meeting. China has abstained from votes by the 193-member U.N. General Assembly that overwhelmingly demanded that Moscow withdraw its troops from Ukraine and stop fighting. China's abstentions appeared to reflect a bid to stay on the diplomatic fence over the war in Ukraine. Reporting by Gabriela Baczynska, Editing by Michelle Nichols and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

Persons: Charles Michel, Michel, let's, Han Zheng, Volodymyr Zelenskiy, U.N, Gabriela Baczynska, Michelle Nichols, Grant McCool Organizations: UNITED, United Nations Security Council, Reuters, Security, General Assembly, Moscow, Thomson Locations: China, Russia, Ukraine, New York, Beijing

☆ Taiwan blasts Elon Musk over latest China comments
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

"Their (Beijing's) policy has been to reunite Taiwan with China. Taiwan Foreign Minister Joseph Wu, in a post on X late Wednesday, responded that he hoped Musk could ask China to "open @X to its people". China blocks X, along with other major Western social media like Facebook. This is not the first time Musk, whose Tesla had a large factory in Shanghai, has riled Taiwan. Last October, he suggested that tensions between China and Taiwan could be resolved by handing over some control of Taiwan to Beijing, drawing a similarly strong reprimand from Taiwan.

Persons: Elon Musk, waded, Joseph Wu, Ukraine's, Wu, Taiwan's, Tesla, Ben Blanchard, Stephen Coates Organizations: YouTube, U.S . Pacific Fleet, Taiwan, Facebook, Russia, Thomson Locations: TAIPEI, Taiwan, China, Beijing, Taipei, Los Angeles, Hawaii, Sevastopol, People's Republic of China, Shanghai

☆ Factbox: Few suppliers of synthetic graphite for EV batteries
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

A sign directing towards electric vehicle charging points is seen in a car park in Manchester, Britain, September 8, 2023. REUTERS/Phil Noble/File Photo Acquire Licensing RightsSept 12 (Reuters) - Although synthetic graphite has been around for more than 100 years, few companies are supplying the material to makers of electric vehicle batteries and battery electrodes. Here’s a short list of public and private companies engaged in the development and production of synthetic graphite, regarded as higher purity and offering better performance, for EV batteries:Anovion (USA)Founded: 2022Partners: Forge Nano, American Battery FactoryOperations: USABTR New Energy Materials (China)(835185.BJE)Founded: 2000Investor: Syrah Resources (SYR.AX)Partner: CNGR (300919.SZ)Operations: China, IndonesiaKuntian New Energy Technology (China)Founded: 2018Investors: Sinopec (600028.SS) , SK China, A123 Systems, Eve Energy (300014.SZ) , BTR New Energy Materials (835185.BJE) , SvoltOperations: ChinaNovonix Group (Australia)(NVX.AX)Founded: 2012Investor: Phillips 66 (PSX.N)Partners: LG Energy Solution (373220.KS) , Kore PowerOperations: Australia, Canada, USAResonac Holdings (Japan)(4004.T)formerly Showa DenkoFounded: 1939Operations: JapanShanshan Technology (China)(SSHOLG.UL)Vianode (Norway)Founded: 2020Investors: Elkem (ELK.OL) , Norsk Hydro (NHY.OL)Operations: NorwaySources: Felixwire, PitchBookReporting by Paul Lienert in Detroit; Editing by Timothy GardnerOur Standards: The Thomson Reuters Trust Principles.

Persons: Phil Noble, Paul Lienert, Timothy Gardner Organizations: REUTERS, EV, American Battery Factory, BTR, Energy Materials, Syrah, Indonesia Kuntian, Energy Technology, SK China, Systems, Eve Energy, BTR New Energy Materials, Svolt, China Novonix Group, LG Energy, Power, USA Resonac Holdings, Japan Shanshan Technology, Norsk Hydro, Thomson Locations: Manchester, Britain, China, BJE, Indonesia, Australia, Canada, Japan, Vianode, Norway, Detroit

☆ Shareholders ask China's Hollysys to set special meeting amid takeover frustration
▼ + stars: | 2023-08-30 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

NEW YORK, Aug 30(Reuters) - Shareholders in China's Hollysys Automation Technologies owning a total 32.2% of the automation control system maker's shares asked the board of directors to set a special shareholder meeting, according to a letter seen by Reuters. Asking for a special meeting is a highly unusual step and signals shareholders' mounting frustration with management of the U.S.-listed company, which has received takeover bids but which has not started a sales process, people familiar with the matter said. A year ago Hollysys management was ready to take the company private at a $1.8 billion valuation, Reuters reported, but nothing has happened since then. Registered shareholders have a statutory right under section 82 of the BVI Business Companies Act (British Virgin Islands) to require the Hollysys board to convene a shareholder meeting. Any shareholder also has a statutory right to apply to the court for an order requiring a shareholder meeting to be held on the basis that it is in the interest of the shareholders that such a meeting be held.

Persons: Conyers, Pearman, Hollysys, Svea Herbst, Bayliss, Louise Heavens Organizations: Automation Technologies, Reuters, Oasis Management, Maso, Company, Technology, . Ltd, Dazheng Group Investment Holdings Company, Act, Svea, Thomson Locations: U.S, United States, Cayman Islands, China, Virgin

China's application, by far the biggest economy, is next in line if they are dealt with in the order they were received, although that is not a given. The free trade agreement has its roots in the U.S.-backed Trans-Pacific Partnership, developed in part to counter China's growing economic dominance. I think that is completely wrong," Tim Groser, a former New Zealand trade minister and chief trade negotiator said. For CPTPP members, China's application is not the only political dilemma. Taiwan is also seeking to join the pact, in a move opposed by China that member trade negotiators remain unsure about.

Persons: Chris Hipkins, Shigeyuki Goto, Damien O’Connor, Trade Kemi, Damien O'Connor, Donald Trump, Henry Gao, couldn't, Tim Groser, CPTPP, Graham Zebedee, Britain's, New Zealand Wang Xiaolong, Hopes, Wang Huiyao, Antony Blinken, Natalie Black, Lucy Craymer, Joe Cash, Jamie Freed Organizations: New Zealand, Economic, New, Trade, Export, State, Business, Malaysian, Beijing, Pacific, New Zealand's Trade, Pacific Partnership, Communist Party, Singapore Management University, Ministry of Foreign Affairs, World Trade Organization, Australia, Center for, Political, Comprehensive Economic, U.S, Asia Pacific, Thomson Locations: British, Trade Kemi Badenoch, Taiwan, AUCKLAND, BEIJING, China, Pacific, Britain, Auckland, Ukraine, Costa Rica, Uruguay, Ecuador, U.S, Japan, Australia, Canada, Beijing, New Zealand, SOEs, Mexico, Center for China, Wellington, Asia

☆ Exclusive: G7, others ask China to stop North Korea sanctions evasion in its waters
▼ + stars: | 2023-07-21 | by ( Michelle Nichols | ) www.reuters.com time to read: +4 min

North Korea, formally named Democratic People's Republic of Korea (DPRK), has been under U.N. sanctions for its missiles and nuclear programs since 2006. The Security Council has also blacklisted several ships for sanctions busting. The satellite images to be provided to China show some of those ships using its territorial waters. "We encourage the Chinese government again to do more to identify and prevent these vessels from anchoring or loitering in Chinese territorial waters," the letter said. China has repeatedly said it abides by U.N. Security Council sanctions resolutions.

Persons: United Nations Cho Hyun, Mike Segar, China's U.N, Zhang Jun, Zhang, Michelle Nichols, Richard Chang Organizations: United Nations, General Assembly, . Security, REUTERS, UNITED NATIONS, European Union, United, Reuters, DPRK, Democratic People's, Security, UN, U.N . Security, Thomson Locations: China, Russia, North Korea, U.N, New York City , New York, U.S, Korea, Sansha Bay, United States, Canada, France, Germany, Italy, Japan, Britain, Australia, New Zealand, South Korea, Democratic People's Republic of Korea, DPRK, Pyongyang

MSCI's broad Asia ex-Japan index shed 1.5% last week, its third consecutive week without rising, and is flat for the year. Much of that is due to the sluggishness of China's markets, and key indicators from the region's largest economy on Monday will get the trading week underway. Annual producer price inflation, already the most negative since 2016, is seen falling to -5.0% from -4.6% in May. Chinese banking stocks, measured by the Hong Kong-listed Hang Seng Mainland Banks Index (.HSMBI), plunged 10.5% last week. Reflecting just how poorly China's post-lockdown economy has performed relative to consensus forecasts, Citi's Chinese economic surprises index has now fallen 11 weeks in a row.

Persons: Jamie McGeever, Janet Yellen's, Yellen, Fed's Barr, Daly, Mester, Diane Craft Organizations: U.S, Mainland Banks Index, Treasury, China CPI, PPI, Thomson, Reuters Locations: China, New Zealand, South Korea, Wall, MSCI's, Asia, Japan, Hong Kong, Mainland, underperformance

☆ Tesla's Musk open to expanding in China - foreign ministry
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +4 min

Musk also told Qin in the meeting that he opposed a decoupling of the U.S. and Chinese economies, according to a statement from the Chinese foreign ministry. Qin told Musk China was committed to improving the business environment for investors, including Tesla, and used an elaborate driving metaphor to describe China-U.S. relations. /Photo prise le 30 mai 2023/REUTERS/Tingshu WangIn a 2019 trip to China, Musk met with then-Premier Li Keqiang. A year later, he created a buzz on Chinese social media for dancing onstage to celebrate the opening of Tesla's Shanghai factory. While his plane was en route to China, Musk tweeted about advances in China's space programme, which aims to land a crew on the moon before 2030.

☆ -China's steps to control its data and information
▼ + stars: | 2023-05-09 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

Below is a timeline of main events in China’s effort to tighten its grip on data and information and especially over their export. July 2015: China passes a national security law that broadened the scope to protect its cyberspace and also emphasised a need to develop key technologies. June 2021: China passes a data security law on the protection of “important data” and “core data”, including information involving national and economic security, people’s welfare and on issues of important public interest. July 2022: China unveils cross-border data review measures that require a security review for “important” offshore data transfers. September 2022: Regulators ask China's biggest financial data provider Wind Information Co to stop providing offshore users with certain data, sources told Reuters.

BELFAST, April 19 (Reuters) - China is aiming for "global technological supremacy" in cyberspace and is using its cyber capabilities to conduct intelligence and surveillance campaigns, Britain's cyber chief said on Wednesday. Lindy Cameron, director of the National Cyber Security Centre (NCSC), part of Britain's GCHQ eavesdropping spy agency, said Britain had a "legitimate concern" about the effects Chinese technology may have on cybersecurity. "China is not only pushing for parity with Western countries, it is aiming for global technological supremacy," Cameron told an annual government cybersecurity conference in Belfast. China is also using its cyber capabilities to acquire intellectual property, achieve its strategic geopolitical goals, and conduct global spying campaigns, Cameron added. Last month, Britain banned the use of TikTok on government phones, following other Western countries in barring the Chinese-owned video app over security concerns.

☆ Morning Bid: Brisk China activity sets the mood
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

Data from France and Spain on Monday highlighted the sticky nature of inflation, weighing on the continent-wide STOXX 600 index. The index was one of the few to eke out meagre gains for the month of February. March also brings us the next set of central bank meetings, with investors expecting the ECB to hike interest rates by 50 basis points, taking the benchmark rate to 3%. The central bank is due to meet on March 16. But before that, investors will parse through a raft of economic data, including S&P global manufacturing PMIs for the Eurozone, Germany and France later in the day.

The UN agency said China was heavily under-reporting deaths from COVID, although it is now providing more information on its outbreak. China's foreign ministry said the country's health officials have held five technical exchanges with the WHO over the past month and have been transparent. Concerns over data transparency were among the factors that prompted more than a dozen countries to demand pre-departure COVID tests from travellers arriving from China. Tensions escalated this week with South Korea and Japan, with China retaliating by suspending short-term visas for their nationals. Still, traffic data and other indicators have not yet fully recovered to levels of just a few months ago.

☆ XBB.1.5 omicron subvariant is the most transmissible version of Covid yet, WHO says
▼ + stars: | 2023-01-04 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

The XBB.1.5 omicron subvariant that's currently dominating the U.S. is the most contagious version of Covid-19 yet, but it doesn't appear to make people sicker, according to the World Health Organization. "It is the most transmissible subvariant that has been detected yet," Van Kerkhove told reporters during a press conference in Geneva on Wednesday. It has been detected in 29 countries so far but it could be even more widespread, Van Kerkhove said. The WHO's advisory group that tracks Covid variants is conducting a risk assessment on XBB.1.5 that it will publish in the coming days, she said. "The more this virus circulates the more opportunities it will have to change," Van Kerkhove said.

China's CSI300 Index (.CSI300) was down 1.8% after opening down 2.2% while the yuan also retreated. Australia's benchmark stock index (.AXJO) closed 0.42% lower while its risk-sensitive currency was off more than 1%. Japan's Nikkei stock index (.N225) was down 0.6%. In Shanghai, demonstrators and police clashed on Sunday night as protests over the country's stringent COVID restrictions flared for a third day. The COVID rules and resulting protests are creating fears the economic hit for China will be greater than first expected.

But Hong Kong's Court of Final Appeal (CFA) on Monday gave a final ruling on the matter, rejecting the government's application to impose a "blanket ban" on foreign lawyers working on national security cases, bar exceptional circumstances. Lai is one of the most prominent Hong Kong critics of China's Communist Party leadership including Xi Jinping, and Hong Kong's Department of Justice made repeated attempts to block Owen from representing him. SWEEPING NATIONAL SECURITY LAWLee also said there was no means of ensuring a foreign lawyer would not divulge state secrets that might emerge during a national security trial. Beijing imposed the sweeping national security law on Hong Kong in June 2020 after sometimes-violent protests rocked the city for months the year before. Beijing's power of ultimate legal interpretation is outlined in the Basic Law, the mini-constitution that grants extensive Hong Kong autonomy and freedoms.

☆ China reopening hope puts wind in Alibaba sails
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +2 min

Just ask China's $220 billion e-commerce giant Alibaba (9988.HK), whose New York stock has rallied by a third this month despite tepid performance from its annual Singles Day shopping festival and so-so quarterly results. Revenue from the domestic commerce unit, accounting for nearly two-thirds of Alibaba's top line, fell 1% year-on-year, to $19 billion. Boss Daniel Zhang's cost cuts are paying off, though: the overall adjusted EBITDA margin improved three percentage points to 21%. Zhang's messaging on China's gradual reopening probably resonated with investors more. Shares of Alibaba, rivals JD.com (9618.HK) and Pinduoduo (PDD.O) and other Chinese stocks jumped, too.

☆ Indonesia’s green step not yet a leap for mankind
▼ + stars: | 2022-11-18 | by ( George Hay | ) www.reuters.com time to read: +8 min

That’s where the private sector comes in, and why Just Energy Transition Partnerships (JETPs) are a potential game changer. More significantly, seven international banks, including HSBC (HSBA.L), (0005.HK), Citigroup and Bank of America (BAC.N), have promised to match that amount. International Finance Corporation figures show that “concessional” finance extended by public bodies at below-market rates can often attract 10 times its own level in private finance. The GFANZ working group will need to ensure Jakarta is sticking to its side of the decarbonisation bargain. The GFANZ group includes Bank of America, Citigroup, Deutsche Bank, HSBC, Macquarie, Mitsubishi UFJ Financial Group and Standard Chartered.

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