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San Francisco Chronicle
13-05-2025
- Business
- San Francisco Chronicle
China presents a united front with Latin America, aiming to counter Trump's trade war
TAIPEI, Taiwan (AP) — China is moving to strengthen its alliances with other countries as a counterweight to President Donald Trump's trade war, presenting a united front with Latin American leaders at an event Tuesday in Beijing. China's leaders have positioned the world's second-largest economy as a reliable trade and development partner, in contrast to the uncertainty and instability from Trump's tariff hikes and other policies. On Monday, Beijing and Washington announced a breakthrough on tariffs after weekend talks in Geneva, Switzerland, where they agreed to cut sky-high tariffs on both sides for 90 days to allow for negotiations. Having moved to defuse antagonisms with the U.S., Chinese President Xi Jinping said China stands ready to 'join hands' with Latin countries 'in the face of seething undercurrents of pure political and bloc confrontation and the surging tide of unilateralism and protectionism.' 'There are no winners in tariff wars or trade wars,' Xi said, reiterating a phrase China has used repeatedly when referring to Trump's policies. He was speaking to the China-CELAC, or Community of Latin American and Caribbean States, Forum, which began in 2015. The presidents of Brazil, Chile and Colombia were among the Latin American and Caribbean officials attending. Xi announced five programs, focused on political exchanges, economic development, cultural and academic exchanges and global security to build closer ties between China and Latin American nations. He promised to boost imports from the region and to encourage Chinese companies to increase their investments there. He announced a new 66 billion yuan ($9.2 billion) credit line to support Latin American and Caribbean financing. China also plans to expand cooperation in clean energy, 5G telecommunications, the digital economy, artificial intelligence and global security. China's trade with the region has been growing rapidly, exceeding $500 billion for the first time last year. Much of that growth has come from increased Chinese imports of farm goods including soybeans and beef, and energy imports such as crude oil, iron ore and critical minerals. Beijing's investments in the region through Xi's Belt and Road Initiative, or BRI, have included installing 5G networks and building ports and hydropower plants. Colombian President Gustavo Petro announced Monday that his country would formally join the BRI – in a vote of confidence after several Chinese projects in Latin America hit snags in recent months. In February, Panama became the first Latin American country to quit the initiative under pressure from the U.S. And earlier this month, Chinese electric vehicle maker BYD and stainless steel producer Tsingshan announced they were abandoning plans to build lithium cathode plants in Chile due to falling lithium prices. Five Latin American countries will receive visa exemptions for travel to China, with more to follow, Xi said. It was not immediately clear which countries would become visa exempt.
The Hill
13-05-2025
- Business
- The Hill
China presents a united front with Latin America, aiming to counter Trump's trade war
TAIPEI, Taiwan (AP) — China is moving to strengthen its alliances with other countries as a counterweight to President Donald Trump's trade war, presenting a united front with Latin American leaders at an event Tuesday in Beijing. China's leaders have positioned the world's second-largest economy as a reliable trade and development partner, in contrast to the uncertainty and instability from Trump's tariff hikes and other policies. On Monday, Beijing and Washington announced a breakthrough on tariffs after weekend talks in Geneva, Switzerland, where they agreed to cut sky-high tariffs on both sides for 90 days to allow for negotiations. Having moved to defuse antagonisms with the U.S., Chinese President Xi Jinping said China stands ready to 'join hands' with Latin countries 'in the face of seething undercurrents of pure political and bloc confrontation and the surging tide of unilateralism and protectionism.' 'There are no winners in tariff wars or trade wars,' Xi said, reiterating a phrase China has used repeatedly when referring to Trump's policies. He was speaking to the China-CELAC, or Community of Latin American and Caribbean States, Forum, which began in 2015. The presidents of Brazil, Chile and Colombia were among the Latin American and Caribbean officials attending. Xi announced five programs, focused on political exchanges, economic development, cultural and academic exchanges and global security to build closer ties between China and Latin American nations. He promised to boost imports from the region and to encourage Chinese companies to increase their investments there. He announced a new 66 billion yuan ($9.2 billion) credit line to support Latin American and Caribbean financing. China also plans to expand cooperation in clean energy, 5G telecommunications, the digital economy, artificial intelligence and global security. China's trade with the region has been growing rapidly, exceeding $500 billion for the first time last year. Much of that growth has come from increased Chinese imports of farm goods including soybeans and beef, and energy imports such as crude oil, iron ore and critical minerals. Beijing's investments in the region through Xi's Belt and Road Initiative, or BRI, have included installing 5G networks and building ports and hydropower plants. Colombian President Gustavo Petro announced Monday that his country would formally join the BRI – in a vote of confidence after several Chinese projects in Latin America hit snags in recent months. In February, Panama became the first Latin American country to quit the initiative under pressure from the U.S. And earlier this month, Chinese electric vehicle maker BYD and stainless steel producer Tsingshan announced they were abandoning plans to build lithium cathode plants in Chile due to falling lithium prices. In other pledges, Beijing plans to invite 300 members from Latin American political parties to China annually for the next three years and facilitate 3,500 government scholarships and various other types of exchanges. Five Latin American countries will receive visa exemptions for travel to China, with more to follow, Xi said. It was not immediately clear which countries would become visa exempt.
Axios
13-05-2025
- Business
- Axios
China's Xi slams "bullying," says there are "no winners" in trade wars
China's leader Xi Jinping took an apparent swipe at President Trumps tariffs policies on Tuesday. Why it matters: Xi's first remarks since China and the U.S. agreed to cut tariffs on each other for 90 days were far removed from those in the U.S.-China joint statement that spoke of recognizing the importance of a "mutually beneficial economic and trade relationship." "There are no winners in tariff wars or trade wars," Xi said at the China-CELAC Forum, according to translations. "Bullying or hegemonism only leads to self-isolation," he added. The big picture: Xi last addressed the forum of over 30 countries that's designed to foster political, economic, cultural and other kinds of cooperation between China and the Community of Latin American and Caribbean States during the inaugural event in 2015. The Chinese leader told Tuesday's event in Beijing that "only through unity and cooperation can countries safeguard global peace and stability and promote worldwide development and prosperity."
Yahoo
13-05-2025
- Business
- Yahoo
China presents a united front with Latin America, aiming to counter Trump's trade war
TAIPEI, Taiwan (AP) — China is moving to strengthen its alliances with other countries as a counterweight to President Donald Trump's trade war, presenting a united front with Latin American leaders at an event Tuesday in Beijing. China's leaders have positioned the world's second-largest economy as a reliable trade and development partner, in contrast to the uncertainty and instability from Trump's tariff hikes and other policies. On Monday, Beijing and Washington announced a breakthrough on tariffs after weekend talks in Geneva, Switzerland, where they agreed to cut sky-high tariffs on both sides for 90 days to allow for negotiations. Having moved to defuse antagonisms with the U.S., Chinese President Xi Jinping said China stands ready to 'join hands' with Latin countries 'in the face of seething undercurrents of pure political and bloc confrontation and the surging tide of unilateralism and protectionism.' 'There are no winners in tariff wars or trade wars,' Xi said, reiterating a phrase China has used repeatedly when referring to Trump's policies. He was speaking to the China-CELAC, or Community of Latin American and Caribbean States, Forum, which began in 2015. The presidents of Brazil, Chile and Colombia were among the Latin American and Caribbean officials attending. Xi announced five programs, focused on political exchanges, economic development, cultural and academic exchanges and global security to build closer ties between China and Latin American nations. He promised to boost imports from the region and to encourage Chinese companies to increase their investments there. He announced a new 66 billion yuan ($9.2 billion) credit line to support Latin American and Caribbean financing. China also plans to expand cooperation in clean energy, 5G telecommunications, the digital economy, artificial intelligence and global security. China's trade with the region has been growing rapidly, exceeding $500 billion for the first time last year. Much of that growth has come from increased Chinese imports of farm goods including soybeans and beef, and energy imports such as crude oil, iron ore and critical minerals. Beijing's investments in the region through Xi's Belt and Road Initiative, or BRI, have included installing 5G networks and building ports and hydropower plants. Colombian President Gustavo Petro announced Monday that his country would formally join the BRI – in a vote of confidence after several Chinese projects in Latin America hit snags in recent months. In February, Panama became the first Latin American country to quit the initiative under pressure from the U.S. And earlier this month, Chinese electric vehicle maker BYD and stainless steel producer Tsingshan announced they were abandoning plans to build lithium cathode plants in Chile due to falling lithium prices. In other pledges, Beijing plans to invite 300 members from Latin American political parties to China annually for the next three years and facilitate 3,500 government scholarships and various other types of exchanges. Five Latin American countries will receive visa exemptions for travel to China, with more to follow, Xi said. It was not immediately clear which countries would become visa exempt. Simina Mistreanu, The Associated Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Winnipeg Free Press
13-05-2025
- Business
- Winnipeg Free Press
China presents a united front with Latin America, aiming to counter Trump's trade war
TAIPEI, Taiwan (AP) — China is moving to strengthen its alliances with other countries as a counterweight to President Donald Trump's trade war, presenting a united front with Latin American leaders at an event Tuesday in Beijing. China's leaders have positioned the world's second-largest economy as a reliable trade and development partner, in contrast to the uncertainty and instability from Trump's tariff hikes and other policies. On Monday, Beijing and Washington announced a breakthrough on tariffs after weekend talks in Geneva, Switzerland, where they agreed to cut sky-high tariffs on both sides for 90 days to allow for negotiations. Having moved to defuse antagonisms with the U.S., Chinese President Xi Jinping said China stands ready to 'join hands' with Latin countries 'in the face of seething undercurrents of pure political and bloc confrontation and the surging tide of unilateralism and protectionism.' 'There are no winners in tariff wars or trade wars,' Xi said, reiterating a phrase China has used repeatedly when referring to Trump's policies. He was speaking to the China-CELAC, or Community of Latin American and Caribbean States, Forum, which began in 2015. The presidents of Brazil, Chile and Colombia were among the Latin American and Caribbean officials attending. Xi announced five programs, focused on political exchanges, economic development, cultural and academic exchanges and global security to build closer ties between China and Latin American nations. He promised to boost imports from the region and to encourage Chinese companies to increase their investments there. He announced a new 66 billion yuan ($9.2 billion) credit line to support Latin American and Caribbean financing. China also plans to expand cooperation in clean energy, 5G telecommunications, the digital economy, artificial intelligence and global security. China's trade with the region has been growing rapidly, exceeding $500 billion for the first time last year. Much of that growth has come from increased Chinese imports of farm goods including soybeans and beef, and energy imports such as crude oil, iron ore and critical minerals. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. Beijing's investments in the region through Xi's Belt and Road Initiative, or BRI, have included installing 5G networks and building ports and hydropower plants. Colombian President Gustavo Petro announced Monday that his country would formally join the BRI – in a vote of confidence after several Chinese projects in Latin America hit snags in recent months. In February, Panama became the first Latin American country to quit the initiative under pressure from the U.S. And earlier this month, Chinese electric vehicle maker BYD and stainless steel producer Tsingshan announced they were abandoning plans to build lithium cathode plants in Chile due to falling lithium prices. In other pledges, Beijing plans to invite 300 members from Latin American political parties to China annually for the next three years and facilitate 3,500 government scholarships and various other types of exchanges. Five Latin American countries will receive visa exemptions for travel to China, with more to follow, Xi said. It was not immediately clear which countries would become visa exempt.
