• EU is open to cooperation with China, despite concerns over unfair trade practices

      EU is open to cooperation with China, despite concerns over unfair trade practices

      EU foreign policy chief Federica Mogherini and Chinese Foreign Minister Wang Yi on Monday stressed common intention for cooperation, despite EU concerns over unfair Chinese trade practices, news wires reported. Wang met in Brussels with EU foreign ministers, saying the event is the first of its kind in the 44-year history of Chinese relations with the EU. The meeting aimed to prepare an EU-China summit on 9 April.

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    • US to deprive Turkey,  India from trade privileges

      US to deprive Turkey, India from trade privileges

      Under the order of President Donald Trump, the US will scrap the preferential trade status granted to India and Turkey, news wires reported on Monday. The US trade chief's office said in a statement that Washington “intends to terminate India's and Turkey's designations as beneficiary developing countries under the Generalised System of Preferences (GSP) programme because they no longer comply with the statutory eligibility criteria”. Under this programme, certain products can enter the US duty-free if countries meet eligibility criteria including “providing the US with equitable and reasonable market access”.

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    • Saudi Arabia strikes $10bn China deal

      Saudi Arabia strikes $10bn China deal

      Saudi Arabia's Crown Prince Mohammed bin Salman got a great deal with China as Saudi Aramco signed off on a $10bn refinery and petrochemical project with two Chinese companies hours before the meeting with President Xi Jinping to wrap up his two-day visit culminating on Friday.

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    • Global trade growth to slide further in 2019

      Global trade growth to slide further in 2019

      A quarterly leading indicator of world merchandise trade slumped to its lowest reading in nine years on Tuesday, which should put policymakers on guard for a sharper slowdown if trade tensions continue, the World Trade Organisation said on Tuesday, 19 February.

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    • US-China trade talks resume next week, focus on intellectual property

      US-China trade talks resume next week, focus on intellectual property

      US negotiators are preparing to press China next week on longstanding demands that it reform how it treats American companies’ intellectual property in order to seal a trade deal that could prevent tariffs from rising on Chinese imports. A new round of trade talks begins in Beijing on Monday, after the most recent set of negotiations concluded in Washington last week without a deal and with the top US negotiator declaring that a lot more work needed to be done.

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    • UN warns of currency  wars with global impact

      UN warns of currency wars with global impact

      Currency wars, widespread protectionism and billion-dollar losses could arise if the US and China fail to settle their trade differences before 1 March, the UN warned in a new study. Published by the UN Conference on Trade and Development (UNCTAD) on 4 February, the report said that while some countries would see a surge in exports, negative global effects were likely to dominate.

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    • EESC backs ambitious WTO reform

      EESC backs ambitious WTO reform

      In its opinion adopted on 24 January, the European Economic and Social Committee (EESC) is calling for an ambitious reform of the World Trade Organisation (WTO) in order to overcome the current crisis. In the last few years, WTO's role has been compromised by increasing protectionism and major changes in the structure of international trade. 

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    • China cuts taxes to offset slowdown

      China cuts taxes to offset slowdown

      China is currently considering to cut taxes, raise the maximum income levels for tax exempt companies, step up spending and provide financing to private and small enterprises, in order to offset country's worst slowdown since the global financial crisis in 2008 and the impact of its tit-for-tat trade war with the US. In the meantime, Beijing is confident it can keep the value of the currency, the yuan or renminbi, steady while maintaining a stable but flexible monetary policy.

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    • US-China trade talks conclude with success

      US-China trade talks conclude with success

      China’s Foreign Ministry announced Wednesday that its trade talks with the US in Beijing had wrapped up, and that results would soon be released. Yet, the length of the negotiations, which extended into an unexpected third day, already fuels optimism that the world’s largest economies can finally strike a trade deal to avoid an all-out confrontation that would severely disrupt the global economy.

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    • White House to bar Huawei, ZTE purchases

      White House to bar Huawei, ZTE purchases

      US pressure on Chinese telecommunications equipment providers was increased once again yesterday after Reuters reported that President Donald Trump is considering an executive order to declare a national emergency, which would bar US companies from using network gear made by two of the world’s biggest telecoms equipment suppliers - Huawei Technologies and ZTE Corp. The planned order follows a passage of a defence policy bill in August that was never issued, but reportedly barred the US government itself from using Huawei and ZTE equipment.

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