Latest news with #CommunistPartyofChina
Fibre2Fashion
7 hours ago
- Business
- Fibre2Fashion
US-China trade talks stalled, may need direct Trump-Xi talks: Bessent
US-China trade talks are a 'bit stalled', according to US treasury secretary Scott Bessent, who yesterday said concluding the deal would need direct talks between Presidents Donald Trump and Xi Jinping. The two nations agreed to a 90-day tariff pause along with mutual reductions around two weeks back. US-China trade talks are a 'bit stalled', US treasury secretary Scott Bessent has said. Concluding the deal would need direct talks between Presidents Donald Trump and Xi Jinping, he said. The progress since the truce in Geneva two weeks back has been slow, but he expects more talks with the Chinese side in the next few weeks, he told a TV network. Several large trade deals are near, he added. The progress since the truce in Geneva has been slow, Bessent told a TV network. He, however, expects more talks with the Chinese side in the next few weeks. 'Given the magnitude of the talks, given the complexity ... this is going to require both leaders to weigh in with each other. They have a good relationship, and I am confident that the Chinese will come to the table when President Trump makes his preferences known,' Bessent added. US secretary of state Marco Rubio announced early this week the Trump administration's decision to revoke visas of Chinese students in touch with the Communist Party of China or those enrolled in 'critical fields'. China has lodged a formal protest over this decision. Bessent also told the TV channel that several large trade deals are near. Fibre2Fashion News Desk (DS)
Straits Times
a day ago
- Business
- Straits Times
US pauses exports of critical technologies to China
The growing stand-off between the US and China over critical supply chains could have significant implications for makers of airplanes, robots, cars and semiconductors. FILE PHOTO: REUTERS WASHINGTON - The Trump administration has suspended some sales to China of critical US technologies, including those related to jet engines, semiconductors, and certain chemicals and machinery. The move is a response to China's recent restrictions on exports of critical minerals to the United States, a decision by Beijing that has threatened to cripple US company supply chains, according to two people familiar with the matter. The new limits are pushing the world's largest economies a step closer towards supply chain warfare, as Washington and Beijing try to flex their power over essential economic components in an attempt to gain the upper hand in an intensifying trade conflict. A growing stand-off over critical supply chains could have significant implications for companies that depend on foreign technologies, including makers of airplanes, robots, cars and semiconductors. It could also complicate efforts to negotiate an end to a trade fight over the administration's tariff policies. On May 12, negotiators from the two countries agreed to reduce the punishing tariffs they have imposed on each other for 90 days while negotiators sought a longer-term resolution. US Treasury Secretary Scott Bessent said at the time that 'the consensus from both delegations is that neither side wanted a decoupling'. Yet, the administration continues to target China with punitive measures. Secretary of State Marco Rubio also announced on May 28 that the US would 'aggressively revoke' visas for Chinese students who study in critical fields or who have connections to the Communist Party of China. Since their agreement to roll back tariffs in May, US officials had expected the Chinese to relax restrictions they had imposed on critical minerals. The Trump administration does not appear to be pleased with China's efforts. In recent days, China has restarted some shipments of rare earth minerals and magnets, but these have been limited, one of the people said. American companies remain concerned about their access to critical Chinese supplies. In April, China suspended exports of a range of critical minerals and magnets, which are essential for automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. The Chinese government said it had halted the shipments while drafting a new regulatory system. Beijing's moves were in response to Mr Trump's decision in early April to sharply increase tariffs on China to a minimum of 145 per cent, after China retaliated against his earlier tariffs. Mr Trump had imposed levies on dozens of countries globally, citing their unfair trade practices, and warned other countries not to respond in kind. The new US restrictions appear to be part of a broader review within the Commerce Department of exports of strategic goods to China. The Bureau of Industry and Security, a division within the department, is in charge of granting companies licences that allow them to export products that have military value or other strategic importance to the US. One person familiar with the matter, who declined to be identified discussing private conversations, said the Commerce Department had suspended some licences that allowed American companies to sell products and technology to Comac, a Chinese state-owned aerospace manufacturer, for use in its C919 aircraft. The Commerce Department did not immediately respond to a request for comment. The C919, a plane comparable in size to the Boeing 737 or Airbus A320, carried paying passengers for the first time in 2023. Many of the plane's parts, including its engines and components necessary to power and control the aircraft, come from US and European suppliers. China is a long way away from producing enough planes to meet its needs and, analysts say, will continue to be dependent on Boeing and Airbus for planes, and companies such as GE Aerospace for jet engines, for many years to come. The Trump administration also appears to have paused exports of software, sold by companies such as Cadence, Synopsys and Siemens, used to design computer chips. China remains one of the US' largest trading partners, but both countries have increasingly viewed the other as an unreliable source of critical products. The US has steadily expanded its restrictions on sharing advanced technology with China and put restrictions on US investments in Chinese tech firms. In recent months, the Trump administration has blocked more sales of artificial intelligence chips to China, and it is weighing further blacklisting of Chinese semiconductor firms. Chinese leaders have long sought to reduce their country's reliance on foreign resources and products, to allow China to better withstand embargoes, armed conflict and other threats. Beijing has set about subsidising and dominating certain industries, such as electric vehicles, mineral processing and wind turbines. Its exports of huge amounts of low-priced goods have put competing manufacturers in the US and other countries out of business. China's rare earth restrictions have further raised alarm among politicians and executives about America's dependence on China for a variety of products and potential vulnerability in case of conflict. While China has flexed its control over supply chains in conflicts with countries before – including banning exports of rare earths to Japan in 2010 amid a political dispute – it has never before cut off such a significant commodity to the US. China has criticised US export controls and sought to portray itself as a defender of global trade rules. On May 27 , the Chinese government met Chinese and European chip companies to discuss deeper collaboration and to brief them on how to request licences for rare earths, according to Chinese state media. In a statement, the Chinese Commerce Ministry said the security and stability of the global chip supply chain was 'facing severe challenges' and that it 'resolutely' rejected 'unilateralism and bullying'. NYTIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
2 days ago
- Politics
- Straits Times
Rubio says will ‘aggressively revoke' Chinese student visas
Mr Marco Rubio said the Trump administration will aggressively revoke visas for Chinese students, including those with connections to the Chinese Communist Party or studying in critical fields. PHOTO: EPA-EFE WASHINGTON - US Secretary of State Marco Rubio said on May 28 he will 'aggressively' revoke visas to students from China, long a top source of revenue for US universities, striking defiance after Beijing complained about a suspension in visa processing. US President Donald Trump's administration will 'aggressively revoke visas for Chinese students, including those with connections to the Communist Party of China or studying in critical fields,' Mr Rubio said in a statement. Mr Rubio said the department will also revise visa criteria to enhance scrutiny of all future visa applications from China and Hong Kong. The Chinese Embassy in Washington did not immediately respond to a request for comment. China has the second highest number of international students pursing higher education in the United States in 2023/2024 with 277,398 students, according to the Institute of International Education. On May 27, it was reported that the US Department of State had halted new appointments for student and exchange visitor visa applicants. The Trump administration has expanded social media vetting of foreign students and is seeking to ramp up deportations and revoke student visas as part of its wide-ranging efforts to fulfil his hardline immigration agenda. AFP, REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Malaysia Sun
4 days ago
- Politics
- Malaysia Sun
Dialogue between CPC and political parties of neighboring countries held in Beijing
BEIJING, May 26 (Xinhua) -- The Communist Party of China (CPC) in Dialogue with Political Parties of Neighboring Countries with the theme of "Building a Community with a Shared Future with Neighboring Countries: Political Parties in Action" was held in Beijing from May 25 to 26. President of the People's Justice Party (PKR) and Malaysian Prime Minister Anwar Ibrahim, leader of Pakistan Muslim League-Nawaz (PML-N) and Prime Minister Shehbaz Sharif, and leader of Thailand's Pheu Thai Party and Prime Minister Paetongtarn Shinawatra, sent congratulatory letters to the event. Liu Jianchao, head of the International Department of the CPC Central Committee, said in his keynote speech that China prioritizes its diplomatic efforts in its neighboring regions. He added that China is willing to work with all parties to jointly build a common home that can shelter from the wind and rain amid times of turmoil on the basis of understanding and mutual trust. Representatives of participating political parties highly appraised China's important propositions such as concept of a community with a shared future for mankind, the Belt and Road Initiative, and the three major global initiatives. They stated that Asian countries should enhance unity and cooperation, jointly maintain regional security and stability, and make Asian contributions to world peace and development. More than 200 participants, including leaders of political parties, some diplomatic envoys to China, representatives of think tanks and media, and business people from neighboring countries, as well as Chinese representatives, attended the dialogue.
The Star
4 days ago
- Politics
- The Star
Anwar advocates for political cooperation in Asia at CPC dialogue
BEIJING: Prime Minister Datuk Seri Anwar Ibrahim has expressed his support for an initiative aimed at enhancing political cooperation and regional stability in Asia. In his congratulatory message at the "CPC (Communist Party of China) in Dialogue with Political Parties of Neighbouring Countries," he said the CPC initiative reflects a commitment to regional solidarity, inclusivity, and constructive engagement during global uncertainty. As the Chair of Asean, he said Malaysia welcomes this initiative, which aligns with the shared aspirations for a stable, prosperous, and interconnected Asia. He said the theme "Building a Community with a Shared Future with Neighbouring Countries—Political Parties in Action' encapsulates the urgent need for political foresight and collective responsibility among Asian nations. "We view this dialogue as more than a diplomatic engagement. It is a strategic conduit to consolidate mutual trust, amplify regional voices and chart a path towards shared destiny. "May this dialogue serve not merely as a forum of ideas, but as a beacon of unity, a compass for regional stability and a catalyst for transnational solidarity," added Anwar, who is also PKR president. DAP vice-chairman Teo Nie Ching, also Deputy Communications Minister, read his message. Representatives from MCA, Amanah and the Progressive Democratic Party were also present.
