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☆ Australia PM says Sydney to host Quad leaders' summit on May 24
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, April 26 (Reuters) - Australian Prime Minister Anthony Albanese said on Wednesday that Sydney will host the 2023 Quad Leaders' summit on May 24, the third in-person meeting of the leaders of Australia, the United States, India and Japan. "I am honoured to host the first ever Quad Leaders' Summit in Australia in Sydney," Albanese said. China sees the Quad as an attempt to push back against its growing influence in the Indo-Pacific. Albanese said he also plans to visit the US when Biden hosts the Asia-Pacific Economic Cooperation summit in the second half of the year. Reporting by Renju Jose in Sydney; Editing by Alasdair PalOur Standards: The Thomson Reuters Trust Principles.

☆ Democrats warn large tech firms could evade competition policies under new trade rules
▼ + stars: | 2023-04-24 | by ( Lauren Feiner | ) www.cnbc.com time to read: +4 min

It's not the first time Democrats have raised concerns about tech provisions being included in trade agreements. The group urged Tai and Raimondo "not to put up for negotiation or discussion any digital trade text that conflicts" with the agenda set by the whole-of-government effort. "Big Tech wants to include an overly broad provision that would help large tech firms evade competition policies by claiming that such policies subject these firms to 'illegal trade discrimination,'" the Democrats wrote. "Tech companies could also weaponize these digital trade rules to undermine similar efforts by our trading partners." The letter cited a U.S. Chamber of Commerce blog post about a trade group coalition note advocating for strong digital trade provisions in the Indo-Pacific Economic Framework (IPEF).

☆ The FTC Is Working With the EU to Hamstring U.S. Companies
▼ + stars: | 2023-04-20 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Federal Trade Commission Chair Lina Khan Photo: Tom Williams/Zuma PressOnce upon a time U.S. officials tried to protect American companies from zealous foreign regulators. Not in the Biden Administration, where Federal Trade Commission Chair Lina Khan is aiding and abetting foreign governments against U.S. business interests. Ms. Khan’s foreign collusion came up during a House hearing on Tuesday when she was grilled about recent revelations that her office is helping Europe target U.S. tech companies. She’s also trying to reduce protections for American multinationals in negotiations over the Indo-Pacific Economic Framework (IPEF).

☆ U.S. trade chief Tai defends pursuit of non-traditional trade deals
▼ + stars: | 2023-04-05 | by ( David Lawder | ) www.reuters.com time to read: +4 min

She said past trade deals focused on "aggressive liberalization and tariff elimination" made the U.S. and other countries too dependent on China for critical materials. Her remarks come amid growing calls from U.S. business and agricultural trade groups for Congress to approve new "fast track" negotiating authority for USTR to pursue traditional free trade deals. These groups argue the U.S. is falling behind the growing network of free trade deals forged by China and the European Union in recent years, putting U.S. farmers and food companies at a disadvantage against many foreign competitors in key markets. Republicans in the U.S. Senate and House of Representatives also pelted Tai with complaints about the lack of new tariff-reducing trade deals during hearings last month. Tai told reporters it has been difficult to explain the need to break away from the traditional vision of ever-liberalizing trade deals.

☆ U.S. trade chief Tai to defend pursuit of non-traditional trade deals
▼ + stars: | 2023-04-05 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, April 5 (Reuters) - U.S. Trade Representative Katherine Tai on Wednesday will defend the Biden administration's decision not to pursue traditional free trade deals and argue her approach of working to ease non-tariff barriers is better for workers and supply chain resilience. Her remarks come amid growing calls from U.S. business and agricultural trade groups for Congress to approve new "fast track" negotiating authority for USTR to pursue traditional free trade deals. These groups argue the U.S. is falling behind the growing network of free trade deals forged by China and the European Union in recent years, putting U.S. farmers and food companies at a disadvantage against many foreign competitors in key markets. Republicans in the U.S. Senate and House of Representatives also pelted Tai with complaints about the lack of new tariff-reducing trade deals during hearings last month. Tai told reporters it has been difficult to explain the need to break away from the traditional vision of ever-liberalizing trade deals.

The Chinese Embassy in Washington called self-ruled Taiwan "an inalienable part of China" and said the one-China principle was an "overwhelming trend" internationally. When Taiwan temporarily averted a split with Honduras after President Xiomara Castro took office in January 2022, U.S. State Department officials remained wary. The Biden administration is also keeping a close eye on tiny Belize for any cracks in its Taiwan relationship. Two U.S. officials said Washington was putting less stock in Taiwan maintaining its diplomatic allies in favor of efforts to increase its participation in international organizations. While denied a seat in the United Nations, Taiwan is a member of the WTO and the Asia-Pacific Economic Cooperation forum.

☆ How Modi can grab India’s geopolitical “moment”
▼ + stars: | 2023-04-03 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

India is in a geopolitical sweet spot because of growing tension between the United States and China. The hard-nosed realpolitik view is that this doesn’t matter as India and the United States have a common threat. This matters for India’s economic future, as geopolitical considerations are increasingly driving global commerce. The United States is encouraging this process through what it calls “friendshoring”. Modi can do a lot to make the most of India’s geopolitical opportunity.

TOKYO/BEIJING, April 2 (Reuters) - Japan's foreign minister Yoshimasa Hayashi said he called on Beijing for the early release of a detained Japanese national during a meeting with Chinese diplomat Qin Gang held on Sunday. The visit comes a week after a spokesperson of Astellas Pharma Inc (4503.T) said its employee was detained in China for unknown reasons. Although Japan and China have their differences, both agreed to restart trilateral talks with South Korea, Hayashi said, calling the agreement "an important achievement" from his meeting with Qin. "We agreed to continue communicating closely on various levels, including the foreign ministerial and leadership levels," Hayashi added. Japanese Prime Minister Fumio Kishida and Chinese President Xi Jinping met on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit last November, marking the first leadership-level talks in almost three years.

WASHINGTON, March 30 (Reuters) - Efforts to build a floor under U.S.-China relations have yet to be successful and coming months will determine if it is possible to reestablish constructive diplomacy with Beijing, a top White House official said on Thursday, stressing the need for "Cold War"-era hotlines and other crisis mechanisms. Campbell said the U.S. was in the early stages of a new phase of competitive relations with China. Campbell said the United States was stepping up its focus on the Indo-Pacific in spite of the war in Ukraine and this would been seen in its budgets, engagements, aid and assistance. He pointed to India, which is due to take part in another summit of the so-called Quad countries in Australia expected in May, and said he believed its relationship with the United States was the most important of the 21st century. Reporting by David Brunnstrom and Michael Martina; Editing by Leslie Adler and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ New Zealand foreign minister to meet Chinese counterpart in Beijing
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +2 min

March 20 (Reuters) - New Zealand's foreign minister, Nanaia Mahuta, will travel to China on Tuesday to meet her counterpart Qin Gang on the first such visit by a New Zealand minister since 2019. "New Zealand's relationship with China is one of our most important, complex and wide ranging," she said in a statement. Prime Minister Chris Hipkins said New Zealand's position on China had not changed. Hipkins said he had not "certainly taken off the table" a trip to China this year. Reporting by Renju Jose in Sydney; Editing by Alasdair Pal and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Biden administration holds second round of IPEF talks in Bali
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, March 19 (Reuters) - The Biden administration said on Sunday that it has held a second round of negotiations for its signature Asia engagement project on topics including labor, environment, digital trade and technical assistance. The Office of the U.S. Trade Representative and the Commerce Department said in a joint release that the latest negotiations took place March 13-19 in Bali. Ahead of the negotiations, U.S. officials shared "Pillar I" negotiating text on labor, environmental, digital trade and technical assistance. The U.S. release said IPEF partners discussed the text and held follow-up talks about other topics raised in earlier meetings in Brisbane and New Delhi. "USTR and Commerce will release additional details about the next in-person negotiating round at a later date," the release said.

[1/2] Australian Prime Minister Anthony Albanese attends the APEC Leader's Dialogue with APEC Business Advisory Council during the Asia-Pacific Economic Cooperation (APEC) summit, Friday, Nov. 18, 2022, in Bangkok, Thailand. Sakchai Lalit/Pool via REUTERS/File PhotoSYDNEY/WASHINGTON, March 8 (Reuters) - Australian Prime Minister Anthony Albanese said on Wednesday he will visit the United States to meet President Joe Biden after a trip to India this week. "I look forward to the continuing engagement that I have with the U.S. administration," Albanese told reporters before leaving for India, without giving a date for his U.S. trip. Ashley Townshend, an Australian Defense expert at the Carnegie Endowment for International Peace think tank, said a new information-sharing agreement would be needed for the submarine program's implementation stage. Albanese will reach India later on Wednesday and will stay until Saturday in the first visit by an Australian prime minister since 2017.

☆ Factbox: Want billions to make US chips? Here is how to get them
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +4 min

[1/3] CMOS chips, are shown at the manufacturing facility of VAS, an electronics manufacturer in San Diego, California April 14, 2009. Chip giant Intel Corp (INTC.O) moved ahead with the ground breaking of a $20 billion chip factory in Ohio after the chips bill passed. The CHIPS Program Office will give "strong preference" to projects that are largely funded with private capital. The department also said that the workers hired to build plants or chips should be able to join unions. The CHIPS Program Office will require any company given more than $150 million to return money if it makes more than they projected.

☆ Democratic Rep. Judy Chu, the first Chinese American woman elected to Congress, blasts a Texas GOP congressman after he questioned her loyalty to the US: 'It is racist'
▼ + stars: | 2023-02-25 | by ( John L. Dorman | ) www.businessinsider.com time to read: +7 min

Judy Chu criticized Lance Gooden after he seemingly questioned her "loyalty" to the US on Fox News. "I think she has drug along the other Chinese American members to sign this letter. I very much doubt that he would be spreading these lies were I not of Chinese American descent." "Lance Gooden's slanderous accusation of disloyalty against Rep. Chu is dangerous, unconscionable and xenophobic," Jeffries said in a statement. Rep. Gooden accused Democrats of bringing up race after his criticism of Rep. Chu.

☆ Australia wage growth hits decade high, but misses forecasts
▼ + stars: | 2023-02-22 | by ( Wayne Cole | ) www.reuters.com time to read: +2 min

Figures from the Australian Bureau of Statistics out on Wednesday showed its wage price index rose 0.8% in the December quarter from the previous quarter, under forecasts of a 1.0% increase. Markets had been braced for an upside surprise and quickly reacted by pushing the Australian dollar down 20 ticks to $0.6847 , while futures scaled back slightly the likely future peak for interest rates. As a result, markets had wagered interest rates could peak as high as 4.35%, but that tempered toward 4.1% following the wages news. The RBA had forecast wage growth of 3.5% for last quarter, so the actual outcome should be a pleasant surprise. "Wage growth was weaker than the RBA had expected last quarter and we think it won’t accelerate as rapidly as the RBA anticipates," said Marcel Thieliant, head of Asia Pacific economics at Capital Economics.

☆ Amid Tensions With U.S., China’s Top Diplomat Travels to a Wary Europe
▼ + stars: | 2023-02-15 | by ( Austin Ramzy | ) www.wsj.com time to read: 1 min

Top Chinese diplomat Wang Yi attended the Asia-Pacific Economic Cooperation leaders informal dialogue in Bangkok, last year. Wang Yi, China’s top diplomat, kicks off a weeklong visit to Europe and Russia with a difficult task: Repair fraying relations in the region at a time of heightened tension with the U.S., growing European wariness toward Beijing and concern over China’s partnership with Russia. Mr. Wang met on Wednesday with French President Emmanuel Macron at the Elysée Palace, followed by stops in Italy, Hungary and Russia.

☆ New U.S. agriculture trade chief seeks to diversify buyers beyond China
▼ + stars: | 2023-02-10 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, Feb 10 (Reuters) - U.S. chief agricultural trade negotiator Doug McKalip wants China to keep striving to meet U.S. farm goods purchase commitments under the 2020 "Phase 1" trade deal, but told Reuters that he also is pushing to diversify exports beyond the biggest U.S. grain customer. "I think for the American farmer, it's important to have a diverse set of buyers out there," he said. China will remain an important top customer, he said, a day after U.S. Census Bureau trade data showed China reached a record $40.85 billion - nearly a fifth of global U.S. farm exports that also reached a record $213 billion. "We'd certainly like to see their purchases be closer to the top numbers that they agreed to," McKalip said of China. Southeast Asia represents an important region to expand U.S. farm exports, and McKalip said he intends to work on reducing trade barriers through the Biden administration's Indo-Pacific Economic Framework negotiations.

☆ U.S. explores working with India to increase economic competition against China, says Commerce Secretary Gina Raimondo
▼ + stars: | 2023-02-08 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — Commerce Secretary Gina Raimondo said Wednesday that the U.S. is considering collaborating with India on certain manufacturing jobs in order to boost competition against China. The Commerce Secretary also revisited some of President Joe Biden's comments on American manufacturing from his State of the Union address on Tuesday. In September 2021, India, Japan and Australia announced plans to establish a semiconductor supply chain initiative to secure access to semiconductors and their components. (A) lot of workers, skilled workers, English speakers, a democratic country rule of law," she said. And we're saying to them, look, sign up at the government-to-government level to labor standards, environmental standards, anti-corruption standards, rule of law standards.

☆ Exclusive: AFL-CIO wants bigger say in U.S. digital trade deals for workers
▼ + stars: | 2023-02-07 | by ( David Lawder | ) www.reuters.com time to read: +4 min

WASHINGTON, Feb 7 (Reuters) - The Biden administration has made digital trade the centerpiece of its trade negotiations, and the AFL-CIO wants a bigger say in how the U.S. Trade Representative's office sets goals in this area, arguing they are too often dictated by big technology companies. The USTR is expected to soon propose text on the digital chapter in negotiations for the Indo-Pacific Economic Framework, the Biden administration's signature economic agreement. U.S. Trade Representative Katherine Tai has pledged to create a "worker-centric" trade policy, but the AFL-CIO said digital trade negotiations too often make no mention of labor standards nor the workers who write software or support networks. "Corporations shouldn't dictate the rules of the global digital economy with no regard for working people," AFL-CIO President Liz Shuler said in a statement. Other AFL-CIO demands for digital trade negotiations include:- Requiring governments to enact strong policies to safeguard individuals' personal data as opposed to the current largely voluntary "self-regulation" model that has proven inadequate.

☆ Factbox: Who are candidates to become next BOJ governor?
▼ + stars: | 2023-02-05 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

The Nikkei newspaper reported the government has sounded out BOJ Deputy Governor Masayoshi Amamiya as the next governor, citing anonymous government and ruling party sources. The government will present a nominee for BOJ governor, and that for two deputy governors, to parliament later this month. But he also said in July the BOJ must "always" think about the means of exiting ultra-loose monetary policy. FEMALE DEPUTY GOVERNOR CANDIDATESNo female has yet served as BOJ deputy governor or governor, a tradition Kishida may seek to change to enhance diversity. FINANCIAL BUREAUCRAT DEPUTY GOVERNOR CANDIDATESIf a former BOJ executive becomes governor, there is a strong chance one of the deputy governor posts will be filled by top finance ministry bureaucrats such as Shigeaki Okamoto and Yasushi Kinoshita.

☆ U.S., India partnership targets arms and AI to compete with China
▼ + stars: | 2023-01-31 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +3 min

WASHINGTON, Jan 31 (Reuters) - The White House is launching a partnership with India on Tuesday that President Joe Biden hopes will help the countries compete against China on military equipment, semiconductors and artificial intelligence (AI). Yet the White House faces an uphill battle on each front, including U.S. restrictions on military technology transfer and visas for immigrant workers, along with India's longstanding dependence on Moscow for military hardware, issues it hopes to now address. But Washington has held its tongue, nudging the country on Russia while condoning India's more hawkish stance on China. General Electric Co (GE.N), meanwhile, is asking the U.S. government for permission to produce jet engines with India that would power aircraft operated and produced by India, according to the White House, which says a review is underway. Reporting by Trevor Hunnicutt; Editing by Chris Sanders, Josie Kao and Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ Russia can attend APEC meetings, says host United States
▼ + stars: | 2022-12-12 | by ( ) www.cnbc.com time to read: +1 min

Russia will be invited to attend meetings of the Asia-Pacific Economic Cooperation (APEC) bloc hosted by the United States next year, a U.S. official said on Monday. As "good stewards of APEC," the United States will invite Russia, which is a member of the 21-country bloc, Matt Murray, a senior U.S. official for APEC, told a media briefing in Singapore. At an APEC meeting hosted by Thailand in May, representatives from the United States and some other countries walked out of a meeting in protest of Russia's actions in Ukraine when Russian Economy Minister Maxim Reshetnikov was delivering remarks. Murray did not say if Putin would attend next year's APEC leaders' meeting in San Francisco. The Russian leader was represented by First Deputy Prime Minister Andrei Belousov at the leaders' meeting hosted by Thailand last month.

☆ New Zealand's Ardern hopes to lead trade mission to China once border controls allow
▼ + stars: | 2022-12-09 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

WELLINGTON, Dec 9 (Reuters) - New Zealand Prime Minister Jacinda Ardern said on Friday she hoped to lead a trade mission to China once border settings are changed to allow travel to her country's biggest trading partner as it emerges from the pandemic. Ardern said New Zealand's trade and economic links with China have proven resilient, despite the challenges of COVID. Delivering a speech marking 50th anniversary of diplomatic relations between the two countries, Ardern said New Zealand's relationship with China was important but complex and evolving. Ardern said "we continue to recognise that there are areas where China and New Zealand do not agree, where our interests or world view differ." While Australia's relationship with China has deteriorated, New Zealand and China's interactions have remained largely cordial.

(Jack Taylor/Pool/Reuters)Dina Boluarte took office as the new president of Peru on Wednesday after the country's Congress ousted Pedro Castillo through a vacancy motion following his attempt to dissolve the governing body. Boluarte became the country's first female president, and just a few hours before, had served as Peru's vice president. It is the sixth time that Peru has had a new president in less than five years. In 2018, she was a candidate for mayor of Surquillo with the Perú Libre Party. During the 2021 general elections, she was a candidate for the vice presidency for the Perú Libre party.

☆ Xi Jinping: Saudi's MBS rolls out the red carpet for China's president, in a not too subtle message to Biden
▼ + stars: | 2022-12-07 | by ( Tamara Qiblawi | ) edition.cnn.com time to read: +9 min

Saudi leaders will infuse the trip with a dose of spectacle. The Saudi king – or his powerful Crown Prince, Mohammed bin Salman – may bestow the Chinese leader with some honors and medals. Saudi Crown Prince Mohammed bin Salman fist bumps US President Joe Biden upon his arrival at Al Salman Palace, in Jeddah, Saudi Arabia, on July 15. Today, the US consumes only a fraction of that Saudi oil, and China is Saudi Arabia’s biggest client and trading partner. Over the last year, Gulf Arab countries appear to have ramped up their independent-minded policy.

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