The ASEAN summit, which formally opens in Singapore on Tuesday afternoon, is expected to sweep in trade, maritime disputes. — AFP/VNA PhotoViet Nam News SINGAPORE — A China-backed bid to complete the world’s largest trade deal -- without the United States -- was pushed back to next year after Asia-Pacific trade ministers failed to agree key terms at a Singapore summit. The Regional Comprehensive Economic Partnership (RCEP), covering half the world’s population, is billed as an antidote to Donald Trump’s "America First" agenda, which has seen tariffs imposed on almost half of all Chinese imports to the US -- and retaliatory levies by Beijing. Chinese Premier Li Keqiang is in Singapore to give impetus to the deal on the sidelines of a gathering of Southeast Asian and world leaders. But trade diplomats late Monday indicated negotiations on the RCEP, a sweeping 16-country deal that includes China, Japan, India and the 10 members of ASEAN … [Read more...] about China-backed trade deal pushed back to 2019
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Trump says 'I think we'll make a deal with China' on tradeThe Saigon Times Daily U.S. President Donald Trump hosts a meeting of the National Space Council as Vice President Mike Pence look on in the East Room of the White House in Washington, U.S., June 18, 2018 – PHOTO: REUTERS WASHINGTON (REUTERS) - U.S. President Donald Trump said on Friday that he will likely make a deal with China on trade, adding that a lot of progress had been made to resolve the two countries’ differences but warning that he still may impose more tariffs on Chinese goods. Trump, speaking to reporters in Washington just two hours after his top economic adviser expressed caution about U.S.-China trade relations, said: “China very much wants to make a deal.” “We’ve had a very good discussion with China, we’re getting much closer to doing something,” Trump said before departing the White House for a campaign event. “I spoke with President Xi (Jinping) … [Read more...] about Trump says ‘I think we’ll make a deal with China’ on trade
Trump says too soon to talk with China on tradeThe Saigon Times Daily U.S. President Donald Trump walks down the White House colonnade prior to holding a news conference on the United States-Mexico-Canada Agreement (USMCA) in the Rose Garden of the White House in Washington, U.S., October 1, 2018 – PHOTO: REUTERS WASHINGTON (REUTERS) - U.S. President Donald Trump on Monday said it was “too soon” for Washington to talk to Beijing about working out a deal on trade, suggesting U.S. tariffs have yet to exert enough pressure to force Beijing into making concessions at the negotiating table. “China wants to talk, very badly, and I said, ‘Frankly, it’s too early to talk.’ Can’t talk now, because they’re not ready,” Trump said during remarks on trade at the White House. “If, politically, people force it too quickly, you’re not going to make the right deal for our workers and for our country.” During his … [Read more...] about Trump says too soon to talk with China on trade
VietNamNet Bridge - As GDP relies on exports, in order to avoid the abrasive effects of the China-US trade war, it needs to improve competitiveness and find new markets. Some experts believe the impacts on Vietnam's economy would be minor A report released by NCIF (the National Centre for Socio-Economic Information and Forecast) at a recent conference said if the US imposes a tax rate of 25 percent on $34 billion worth of imports from China, Vietnam would see its GDP decrease by VND6 trillion a year in 2018-2022. With the predicted decreases, Vietnam’s economic scale would be as follows: $235 billion by 2020, $250.2 billion by 2020, $284 billion by 2021 and $302 billion by 2022. With the predicted decreases, Vietnam’s economic scale would be as follows: $235 billion by 2020, $250.2 billion by 2020, $284 billion by 2021 and $302 billion by 2022. RELATED NEWS US-China tit-for-tat trade war to create misfortune for Vietnam US-China trade war evolves into … [Read more...] about How will Vietnam cope with the crisis caused by China-US trade war?
Talks end with China warning trade benefits at risk if U.S. imposes tariffs U.S. Commerce Secretary Wilbur Ross (C,L), chats with Chinese Vice Premier Liu He, center, during a group photograph session after their meeting at the Diaoyutai State Guesthouse in Beijing, China Sunday, Jun 3, 2018 - PHOTO: REUTERS BEIJING (REUTERS) - China warned the United States on Sunday that any agreements reached on trade and business between the two countries will be void if Washington implements tariffs and other trade measures, as the two ended their latest round of talks in Beijing. A short statement, carried by the official Xinhua news agency, made no mention of any specific new agreements after U.S. Commerce Secretary Wilbur Ross met Chinese Vice Premier Liu He. It referred instead to a consensus they reached last month in Washington, when China agreed to significantly increase its purchases of U.S. goods and services. "To implement the consensus reached in Washington, the two sides have … [Read more...] about Talks end with China warning trade benefits at risk if U.S. imposes tariffs