AIIB stresses 'inclusive' approach as lender downplays China's sway
President Jin Liqun, who spoke with Nikkei Asia on the sidelines of the annual Future of Asia conference in Tokyo, stressed that "the bank is inclusive," including when it comes to hiring and contracting projects. As for the membership, he said, everyone is "welcome."
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Japan Times
21 hours ago
- Japan Times
U.S. targets Chinese steel and lithium for forced-labor scrutiny
U.S. President Donald Trump's administration said it will step up scrutiny of imports of steel, copper, lithium and other materials from China to enforce a U.S. ban on goods allegedly made with forced labor in the country's Xinjiang region. The announcement of new "high-priority sectors' targeted under the 4-year-old Uyghur Forced Labor Prevention Act was included Tuesday in an annual update to the U.S. government's enforcement efforts. It also dovetails with Trump's broader trade goals, as he seeks to lower the U.S. trade deficit with China and pressures Beijing to curb shipments of fentanyl and precursor chemicals. "America has a moral, economic, and national security duty to eradicate threats that endanger our nation's prosperity, including unfair trade practices that disadvantage the American people and stifle our economic growth,' Homeland Security Secretary Kristi Noem said in a statement. The administration went ahead with the announcement at a time when Trump has sought to improve relations with Chinese President Xi Jinping. Last week, the U.S. president extended a pause on higher tariffs on goods from China for 90 days as he seeks an in-person meeting with the Chinese leader. Under the 2021 law, the U.S. government assumes that anything made even partially in the Chinese manufacturing hub of Xinjiang is produced with forced labor and cannot be imported into the U.S. Companies may win exemptions if they can provide "clear and convincing evidence' forced labor was not used. The measure is meant to help combat alleged repression of Uyghurs and other minorities in the province of Xinjiang. Beijing has repeatedly denied accusations that minorities are compelled to work against their will. Although the law applies to all goods, it originally singled out apparel, cotton and cotton products, tomatoes and silica-based products — including polysilicon — as high-priority sectors for enforcement. Under former President Joe Biden, the government expanded the products subject to extra scrutiny to include aluminum, polyvinyl chloride and seafood. The Trump administration's Tuesday announcement expands the list again to encompass red dates, caustic soda and lithium, as well as steel and copper. The U.S. doesn't import significant amounts of copper from China, according to data from Morgan Stanley. In 2024, the U.S. imported about 470,000 tons of steel from China, equal to 0.5% of domestic consumption, according to the Commerce Department.
Nikkei Asia
4 days ago
- Nikkei Asia
US-South Korea drills, Lee visits Japan, Taiwan nuclear power vote
Welcome to Your Week in Asia. Fresh off calling for a "redefining" of ties with Japan in an independence day speech, South Korean President Lee Jae Myung heads to Tokyo for talks as the two countries wrestle with the impact of U.S. President Donald Trump's tariffs. Also in Japan, relations between Asia and Africa will be in focus during the Tokyo International Conference on African Development (TICAD). Japan is expected to announce an investment push in the continent in tandem with countries such as India. Get the best of our coverage of Asia and much more by following us on X, where our handle is @NikkeiAsia. We are also now on Bluesky, with the handle @ MONDAY U.S.-South Korea military drills The U.S. and South Korea will hold their annual military drills, known as Ulchi Freedom Shield. About 18,000 South Korean soldiers will take part in the live-fire exercises amid North Korea's warnings of reprisals for what it says is a "direct military provocation." Data: Thailand gross domestic product TUESDAY Data: Malaysia trade WEDNESDAY Africa conference in Japan TICAD, an international conference focusing on African development, will be held in Yokohama, south of Tokyo, for three days until Friday. The ninth edition of the event features over 200 seminars and symposiums, as well as approximately 300 booths and panel displays. Thailand electronics trade show The Thailand Electronics Circuit Asia 2025 trade show kicks off in Bangkok. The three-day event will bring together hundreds of companies from across the tech supply chain, with a major focus on printed circuit boards, a key component used in all types of electronic devices. Taiwan robot show The Taiwan Automation Intelligence and Robot Show opens in Taipei. Exhibitors at the four-day fair will show off the latest advances in smart manufacturing, robotics, artificial intelligence and more. Earnings: Baidu THURSDAY Data: India purchasing managers index FRIDAY Ruling in Thaksin lese majeste case Thailand's Criminal Court is due to hand down its verdict on former Prime Minister Thaksin Shinawatra in a lese majeste case. The 75-year-old Thaksin is accused of insulting the monarchy during an interview with the South Korean newspaper Chosun Ilbo in May 2015. South Korea's opposition People Power Party elects new leader Data: Malaysia consumer price index Earnings: China Vanke SATURDAY Lee visits Japan for summit South Korea's President Lee will make his first overseas trip for a bilateral summit when he travels to Tokyo to meet with Japanese Prime Minister Shigeru Ishiba. While the neighboring nations are historical rivals and Lee has a track record of criticizing Japan, both are export-led economies seeking solutions to the steep tariffs imposed by America. After his Japan trip, Lee will head to Washington for a summit with U.S. President Donald Trump. Taiwan nuclear power referendum Taiwan holds a referendum on whether to restart its Maanshan nuclear power plant, the shutdown of which marked the end of the island's atomic energy era in May. The opposition Taiwan People's Party pushed for the vote on the grounds that reactivation is necessary for energy stability and security. President Lai Ching-te of the ruling Democratic Progressive Party has said he will vote "no." The referendum coincides with a handful of districts voting in recall elections against opposition Kuomintang lawmakers, after a larger first set of recall attempts all failed.
Japan Times
5 days ago
- Japan Times
Taiwan foreign minister's visit puts damper on Japan-China relations
Taiwanese Foreign Minister Lin Chia-Lung's latest trip to Japan has put a damper on Sino-Japanese ties, with Beijing canceling at the last minute a bilateral meeting of agriculture ministers. Chief Cabinet Secretary Yoshimasa Hayashi avoided going into detail during a news conference Friday, stating only: "We understand that (the ministerial meeting) was not held due to scheduling conflicts of both sides." Chinese agriculture minister Han Jun was set to visit Japan to hold a meeting with his Japanese counterpart, Shinjiro Koizumi, on Tuesday, after a trilateral agriculture ministers' meeting involving the two nations plus South Korea held in Incheon near South Korea's capital, Seoul, on Monday. Many within the Japanese government consider Lin's Japan visit in late July to be the reason for the cancellation. The Taiwanese side has said that the foreign chief had made a personal visit to Japan. During the trip, however, he held talks with Keiji Furuya of Japan's ruling Liberal Democratic Party, who heads a suprapartisan group of Japanese lawmakers aiming for stronger Tokyo-Taipei relations, and other Japanese officials. In light of heightened tensions between China and the United States, Beijing has been pushing for improved ties with Japan. In autumn last year, China resumed its visa exemption for short-term stays by Japanese nationals. It announced in June this year the restart of imports of Japanese fishery products. The Chinese government has been especially sensitive about the Japanese government's historical perceptions and Taiwan issues due to it marking the 80th anniversary this year of its victory in the past war against Japan. A senior official at the Japanese Foreign Ministry said, "China had to take a strong response based on moves by Taiwan." Lin's trip may also impact Japan-China high-level talks expected to be held on the sidelines of a series of summits related to the Association of Southeast Asian Nations in Malaysia in October.
