Trade War


Covid vaccines: Dr Ngozi's first big test as new WTO head

Covid vaccines: Dr Ngozi's first big test as new WTO head

(ATF) The first woman and first African to lead the global trade body says "the WTO is too important to allow it to be slowed down, paralysed and moribund".Ngozi Okonjo-Iweala, 66, is a Harvard-educated development economist who spent 25 years at the World Bank, where she oversaw a portfolio of …

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TikTok’s US push signals a bet on better ties with China

TikTok’s US push signals a bet on better ties with China

(ATF) TikTok is gearing up to compete with Facebook for e-commerce ad sales in the US and announced a deal with UMG, the world's biggest music company, on Monday February 7. The push to expand in the US signals a bet by TikTok that regulatory threats to Chinese companies will …

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Biden's Commerce nominee to vow strong enforcement

Biden's Commerce nominee to vow strong enforcement

US President Joe Biden's nominee to head the Commerce Department will pledge on Tuesday (US time) to take "aggressive" action in response to trade practices from China.Rhode Island Governor Gina Raimondo will tell the US Senate commerce panel the United States must "take aggressive trade enforcement actions to combat unfair …

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China slams Trump's 'naked bullying' of Huawei over latest curbs 

China slams Trump's 'naked bullying' of Huawei over latest curbs 

(ATF) China has strongly criticized the Trump Administration for its "unprovoked suppression of Chinese companies" and "naked bullying" over its move on Sunday to revoke licences for chip manufacturer Intel and other suppliers so they can no longer sell products to Huawei.Foreign Ministry spokeswoman Hua Chunying said: “China has repeatedly …

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Trump’s trade war with China leaves 245,000 Americans without jobs

Trump’s trade war with China leaves 245,000 Americans without job

(ATF) Donald Trump's trade war with China has caused a net loss of 245,000 American jobs, a study commissioned by the US-China Business Council (USCBC) has shown.The group, which represents major US companies doing business in China, said the study by Oxford Economics also includes an “escalation scenario”. That estimates …

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Mnuchin saves Alibaba, Baidu and Tencent from Trump ban

Mnuchin saves Alibaba from Trump ban

(ATF) Treasury Secretary Steve Mnuchin has prevailed in his bid to stop Alibaba, Baidu and Tencent being added to a blacklist of firms with Chinese military links, according to news reports on Wednesday January 13. Mnuchin won a battle within the Trump administration against Secretary of State Mike Pompeo and …

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SMIC allowed to continue trading in US OTC market till Feb 1

SMIC allowed to continue trading in US OTC market till Feb 1

(ATF) China's largest chipmaker Semiconductor Manufacturing International Corp (SMIC) said it has received a brief reprieve after being told last week that its shares would immediately be barred from the OTCQX Market, a US financial market for over-the-counter securities.In a filing with the Hong Kong Stock Exchange on Sunday, the …

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Markets this week: Biden's stimulus plan; China counter-measures

Markets this week: Biden's stimulus plan; China counter-measures

(ATF) Economic eventsInvestor optimism will be constrained by the intensifying conflict between the world’s two biggest economies after Beijing announced steps widely seen as retaliation against the recent Trump administration bans against Chinese companies.Optimism has been elevated by President elect Joe Biden’s comments the bipartisan package passed in December was …

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Trump order to ban Alipay is latest headache for Biden, China

Trump order to ban Alipay is latest headache for Biden, China

(ATF) US President Donald Trump has signed an executive order which aims to ban transactions on eight Chinese software applications, including Ant Group’s Alipay, citing national security concerns.The move seeks to increase pressure on China before the Biden administration takes office, but it may hamper incoming President Joe Biden’s attempts …

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China 'to gain bargaining power' over US via EU investment deal

China 'to gain bargaining power' over US via EU investment deal

(ATF) The Comprehensive Agreement on Investment that China reached with the European Union last week will help reduce the risk of Beijing being “marginalised” and give China more bargaining power to handle economic and trade conflicts with the US, analysts have said.“The investment agreement between China and the EU is …

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