Latest news with #Mandarin-language
NBC News
2 days ago
- Business
- NBC News
U.S.-China talks ‘a bit stalled' and need Trump and Xi to weigh in, Treasury Secretary Bessent says
BEIJING — U.S.-China trade talks 'are a bit stalled,' requiring the two countries' leaders to speak directly, Treasury Secretary Scott Bessent told Fox News in an interview Thursday local time. 'I believe that we will be having more talks with them in the next few weeks,' he said, adding that there may be a call between the two countries' leaders 'at some point.' After a rapid escalation in trade tensions last month, Bessent helped the world's two largest economies reach a breakthrough agreement in Switzerland on May 12. The countries agreed to roll back recent tariff increases of more than 100% for 90 days, or until mid-August. Diplomatic officials from both sides had a call late last week. Still, the U.S. has pushed ahead with tech restrictions on Beijing, drawing its ire, while China has yet to significantly ease restrictions on rare earths, contrary to Washington's expectations. 'I think that given the magnitude of the talks, given the complexity, that this is going to require both leaders to weigh in with each other,' Bessent said. 'They have a very good relationship and I am confident that the Chinese will come to the table when President [Donald] Trump makes his [preferences] known.' Trump and Chinese President Xi Jinping last spoke in January, just before the U.S. president was sworn in for his second term. While Trump has in recent weeks said he would like to speak with Xi, analysts expect China to agree to that only if there is certainty that there will be no surprises from the U.S. during the call. China has maintained communication with the U.S. since the agreement in Switzerland, Chinese Ministry of Commerce Spokesperson He Yongqian told reporters at a regular briefing Thursday. But regarding chip export controls, she said that 'China again urges the U.S. to immediately correct its wrong practices ... and together safeguard the consensus reached at high-level talks in Geneva.' That's according to a CNBC translation of her Mandarin-language remarks. When asked whether China would suspend rare earths export controls announced in early April, He did not respond directly. Restrictions on items that could have both military and civilian applications reflect international practice, as well as China's position of 'upholding world peace and regional stability,' she said. This week, the Trump administration also announced it would start revoking visas for Chinese students. 'The U.S. decision to revoke Chinese student visas is fully unjustified,' Chinese Foreign Ministry spokesperson Mao Ning said Thursday, according to an official English transcript. 'It uses ideology and national security as pretext.'
CNBC
2 days ago
- Business
- CNBC
U.S.-China talks 'a bit stalled' and need Trump and Xi to weigh in, Treasury Secretary Bessent says
BEIJING — U.S.-China trade talks "are a bit stalled," requiring the two countries' leaders to speak directly, Treasury Secretary Scott Bessent told Fox News in an interview Thursday local time. "I believe that we will be having more talks with them in the next few weeks," he said, adding that there may be a call between the two countries' leaders "at some point." After a rapid escalation in trade tensions last month, Bessent helped the world's two largest economies reach a breakthrough agreement in Switzerland on May 12. The countries agreed to roll back recent tariff increases of more than 100% for 90 days, or until mid-August. Diplomatic officials from both sides had a call late last week. Still, the U.S. has pushed ahead with tech restrictions on Beijing, drawing its ire, while China has yet to significantly ease restrictions on rare earths, contrary to Washington's expectations. "I think that given the magnitude of the talks, given the complexity, that this is going to require both leaders to weigh in with each other," Bessent said. "They have a very good relationship and I am confident that the Chinese will come to the table when President [Donald] Trump makes his [preferences] known." Trump and China's President Xi Jinping last spoke in January, just before the U.S. president was sworn in for his second term. While Trump has in recent weeks said he would like to speak with Xi, analysts expect China to agree to that only if there's certainty there will be no surprises from the U.S. during the call. China has maintained communication with the U.S. since the agreement in Switzerland, Chinese Ministry of Commerce Spokesperson He Yongqian told reporters at a regular briefing Thursday. But regarding chip export controls, she said that "China again urges the U.S. to immediately correct its wrong practices ... and together safeguard the consensus reached at high-level talks in Geneva." That's according to a CNBC translation of her Mandarin-language remarks. When asked whether China would suspend rare earths' export controls announced in early April, He did not respond directly. Restrictions on items that could be used for both military and civilian use reflect international practice, as well as China's position of "upholding world peace and regional stability," she said. This week, the Trump administration also announced it would start revoking visas for Chinese students. "The U.S. decision to revoke Chinese student visas is fully unjustified," China's Foreign Ministry Spokesperson Mao Ning said Thursday, according to an official English transcript. "It uses ideology and national security as pretext."
Business Mayor
21-05-2025
- Business
- Business Mayor
CNBC's The China Connection newsletter: A fragile truce as tempers flare
Containers pile up at Taicang Port Container Terminal in Suzhou City, Jiangsu Province, China, on May 18, 2025. Nurphoto | Nurphoto | Getty Images This report is from this week's CNBC's The China Connection newsletter, which brings you insights and analysis on what's driving the world's second-largest economy. Each week, we'll explore the biggest business stories in China, give a lowdown on market moves and help you set up for the week ahead. Like what you see? You can subscribe here. The big story Just a week after a breakthrough in U.S.-China trade tensions, neither side can yet be confident that the other is holding up their end of the bargain. 'These 90 days won't be smooth,' Liu Weidong, research fellow at a state-affiliated think tank, the Chinese Academy of Social Sciences' Institute of American Studies, told me this week. That's according to a CNBC translation of his Mandarin-language remarks. He predicts elevated uncertainty and smaller steps next, given the already-large breakthrough, as the U.S. and China each try to feel the other out towards a middle ground. The posturing has already begun. China's Ministry of Commerce on Wednesday warned that it would take legal action against those involved in assisting or implementing measures to curb the usage of advanced semiconductors from China. It follows an earlier accusation by the same ministry on Monday that blamed the U.S. for undermining trade talks with a Huawei chip warning last week — although the U.S. Bureau of Industry and Security had actually toned down its language and dismissed a more restrictive Biden-era plan on chips. Many in the U.S. are also concerned that China isn't relaxing rare earth export controls, another area in which China dominates the supply chain. That's despite the joint statement's vague description of how China would 'suspend or remove the non-tariff countermeasures taken against the United States since April 2, 2025.' Read More Aid Is Rushing Into Gaza While the Cease-Fire Holds 'I do think Washington was expecting the export controls on that group of rare earths to be lowered, permitting exports in a relatively unrestricted way,' said Scott Kennedy, senior adviser and trustee chair in Chinese Business and Economics at the Center for Strategic and International Studies in Washington, D.C. 'If it turns out that, in fact, that is not the result, the U.S. will probably conclude that China is in violation of the agreement,' he said. 'We could see a re-escalation sooner rather than later.' While the White House has yet to respond to a CNBC request for comment, a step back reveals ambiguity on China's side. But are the rare earth export controls part of China's countermeasures to U.S. tariffs? That's up for debate. An April 4 document from China's commerce ministry and customs agency announcing the export controls did not explicitly label them as such. While China did pause restrictions on 28 U.S. entities that were slapped with export controls on critical minerals, the ministry has made several public statements about strengthening export controls on critical minerals. 'Given the comprehensive and competitive nature of bilateral relations, the current truce — while focused on trade—can easily be undermined by export controls,' said Yue Su principal economist, China, at The Economist Intelligence Unit. 'While rhetorical posturing is unlikely to undermine the 90-day truce, China may well recalibrate its export control regime in a measured response to U.S. actions,' she said. The Chinese commerce ministry on Sunday also announced duties of up to 74.9% on imports of an engineering plastic from the U.S., Europe, Japan and Taiwan. Trump-Xi talk? U.S. President Donald Trump last week told Fox News he is open to a call with Chinese President Xi Jinping, or even a trip to China. But Beijing hasn't dropped any hints. 'I'd be surprised if the two step into the middle of these issues right now with so much unclear,' Kennedy said. The new U.S. Ambassador to China, David Perdue, arrived in Beijing on Thursday, slightly more than two weeks after being confirmed by the Senate. He was previously the head of Asia for U.S. packaged consumer goods company Sara Lee. One of Perdue's first social media posts called for 'strong actions' on fentanyl. He said on X that, together with U.S. Trade Representative Jamieson Greer, they were 'meaningfully engaged with the Chinese on next steps to stop this dangerous situation.' The U.S. has left in place 20% in tariffs imposed earlier this year over China's alleged role in the fentanyl crisis. The joint statement last week said the U.S. and China would establish a mechanism for talks about economic and trade relations, but neither side has specified when the next one would occur. Liu, who helped author a report in February with The Carter Center about bilateral cooperation, emphasized the overall focus of the current talks is trade rather than tech. He expects that China could eventually agree to buy more U.S. agriculture and energy products — given the perception that pressuring farmers can influence Trump. Top TV picks on CNBC Qualcomm CEO Cristiano Amon on tariffs and China Cristiano Amon, CEO of Qualcomm, discusses tariffs and the China market for his business. Toyota North America COO on new fleet of cars and tariffs on auto imports Mark Templin, Toyota North America COO, joins CNBC's 'Closing Bell' to discuss the company's launch of their new products, the company's pricing, and much more. Walter Isaacson on biotech breakthroughs vs. federal funding cuts, Trump-U.S. business relationship Walter Isaacson, 'Elon Musk' author, Perella Weinberg Partners advisory partner and Tulane professor, joins 'Squawk Box' to discuss breakthroughs in gene editing and biotech to cure diseases, impact of federal funding cuts, the White House relationship with the business world, and more. Need to know In the markets Stock chart icon The performance of the Shanghai Composite over the past year. Chinese and Hong Kong stocks climbed Wednesday. Mainland China's CSI 300 was up 0.68% while Hong Kong's Hang Seng Index — which includes major Chinese companies — rose 0.53% as of 12 p.m. local time. The benchmark 10-year Chinese government bond yield is at 1.669%. Coming up May 22: Xiaomi to release mobile phone chip, its first SUV and other products May 27: China to report industrial profits for April
CNBC
21-05-2025
- Business
- CNBC
CNBC's The China Connection newsletter: A fragile truce as tempers flare
Just a week after a breakthrough in U.S.-China trade tensions, neither side can yet be confident that the other is holding up their end of the bargain. "These 90 days won't be smooth," Liu Weidong, research fellow at a state-affiliated think tank, the Chinese Academy of Social Sciences' Institute of American Studies, told me this week. That's according to a CNBC translation of his Mandarin-language remarks. He predicts elevated uncertainty and smaller steps next, given the already-large breakthrough, as the U.S. and China each try to feel the other out towards a middle ground. The posturing has already begun. China's Ministry of Commerce on Wednesday warned that it would take legal action against those involved in assisting or implementing measures to curb the usage of advanced semiconductors from China. It follows an earlier accusation by the same ministry on Monday that blamed the U.S. for undermining trade talks with a Huawei chip warning last week — although the U.S. Bureau of Industry and Security had actually toned down its language and dismissed a more restrictive Biden-era plan on chips. Many in the U.S. are also concerned that China isn't relaxing rare earth export controls, another area in which China dominates the supply chain. That's despite the joint statement's vague description of how China would "suspend or remove the non-tariff countermeasures taken against the United States since April 2, 2025." "I do think Washington was expecting the export controls on that group of rare earths to be lowered, permitting exports in a relatively unrestricted way," said Scott Kennedy, senior adviser and trustee chair in Chinese Business and Economics at the Center for Strategic and International Studies in Washington, D.C. "If it turns out that, in fact, that is not the result, the U.S. will probably conclude that China is in violation of the agreement," he said. "We could see a re-escalation sooner rather than later." While the White House has yet to respond to a CNBC request for comment, a step back reveals ambiguity on China's side. But are the rare earth export controls part of China's countermeasures to U.S. tariffs? That's up for debate. An April 4 document from China's commerce ministry and customs agency announcing the export controls did not explicitly label them as such. While China did pause restrictions on 28 U.S. entities that were slapped with export controls on critical minerals, the ministry has made several public statements about strengthening export controls on critical minerals. "Given the comprehensive and competitive nature of bilateral relations, the current truce — while focused on trade—can easily be undermined by export controls," said Yue Su principal economist, China, at The Economist Intelligence Unit. "While rhetorical posturing is unlikely to undermine the 90-day truce, China may well recalibrate its export control regime in a measured response to U.S. actions," she said. The Chinese commerce ministry on Sunday also announced duties of up to 74.9% on imports of an engineering plastic from the U.S., Europe, Japan and Taiwan. U.S. President Donald Trump last week told Fox News he is open to a call with Chinese President Xi Jinping, or even a trip to China. But Beijing hasn't dropped any hints. "I'd be surprised if the two step into the middle of these issues right now with so much unclear," Kennedy said. The new U.S. Ambassador to China, David Perdue, arrived in Beijing on Thursday, slightly more than two weeks after being confirmed by the Senate. He was previously the head of Asia for U.S. packaged consumer goods company Sara Lee. One of Perdue's first social media posts called for "strong actions" on fentanyl. He said on X that, together with U.S. Trade Representative Jamieson Greer, they were "meaningfully engaged with the Chinese on next steps to stop this dangerous situation." The U.S. has left in place 20% in tariffs imposed earlier this year over China's alleged role in the fentanyl crisis. The joint statement last week said the U.S. and China would establish a mechanism for talks about economic and trade relations, but neither side has specified when the next one would occur. Liu, who helped author a report in February with The Carter Center about bilateral cooperation, emphasized the overall focus of the current talks is trade rather than tech. He expects that China could eventually agree to buy more U.S. agriculture and energy products — given the perception that pressuring farmers can influence Trump. Qualcomm CEO Cristiano Amon on tariffs and China Cristiano Amon, CEO of Qualcomm, discusses tariffs and the China market for his business. Toyota North America COO on new fleet of cars and tariffs on auto imports Mark Templin, Toyota North America COO, joins CNBC's "Closing Bell" to discuss the company's launch of their new products, the company's pricing, and much more. Walter Isaacson on biotech breakthroughs vs. federal funding cuts, Trump-U.S. business relationship Walter Isaacson, 'Elon Musk' author, Perella Weinberg Partners advisory partner and Tulane professor, joins "Squawk Box" to discuss breakthroughs in gene editing and biotech to cure diseases, impact of federal funding cuts, the White House relationship with the business world, and more. Chinese exporters are doubling down on non-U.S. markets. That's based on a poll by Allianz Trade. But a Shanghai-based baby products company on Tuesday announced a major ramp-up of its U.S. market expansion. Meanwhile, analysts and industry players point out how some Chinese exporters have found illicit ways around U.S. tariffs. Retail sales and industrial production growth slowed in April. The sluggish real estate sector showed little sign of improvement. However, major Chinese online shopping companies reported better sales in the first quarter, helped by artificial intelligence-powered ads. Electric car company Leapmotor said its gross margin for the first quarter was a record 14.9%, while Chinese battery giant CATL raised $4.6 billion in its Hong Kong listing on Tuesday. China is gearing up for its next five-year plan. The next set of development goals will kick in next year. The science ministry, central bank and several other ministries have also announced measures to support "high-level scientific and technological self-reliance." A new policy for preventing government spending waste calls for favoring domestic vehicles, especially new energy makes. Chinese and Hong Kong stocks climbed Wednesday. Mainland China's CSI 300 was up 0.68% while Hong Kong's Hang Seng Index — which includes major Chinese companies — rose 0.53% as of 12 p.m. local time. The benchmark 10-year Chinese government bond yield is at 1.669%. May 22: Xiaomi to release mobile phone chip, its first SUV and other products May 27: China to report industrial profits for April
Epoch Times
08-05-2025
- Politics
- Epoch Times
CIA's Chinese Recruitment Ads: A Psychological Operation Against the CCP?
Commentary What may appear as clumsy CIA recruitment videos to some could actually be a calculated strike in the psychological war against the Chinese Communist Party (CCP). The CIA on May 1 released two professionally produced Mandarin-language videos titled 'Why I Contacted the CIA: The agency distributed the videos on platforms like YouTube, Facebook, and Instagram, offering detailed instructions on how to make secure contact through encrypted channels and dark web portals. This highly public recruitment effort is part of a broader campaign that began in October 2024, aimed at rebuilding the CIA's intelligence networks in hard-to-penetrate states such as China, Iran, and North Korea. The initiative follows a string of past recruitment successes in Russia and a renewed U.S. focus on China, which The effort also responds to historic losses; in the early 2010s, Chinese counterintelligence dismantled a major CIA spy ring, resulting in the arrests and executions of numerous informants. Since then, China has become one of the most difficult environments in the world for espionage. By going public with recruitment efforts, the CIA may be seeking to bypass traditional barriers and reestablish contact with potential sources inside the regime. Related Stories 5/1/2025 5/2/2025 The CCP has yet to issue a formal statement addressing the CIA videos. However, the Ministry of State Security (MSS) has recently ramped up public warnings against foreign espionage. The MSS has accused foreign agencies of posing as romantic partners or job recruiters to lure citizens into providing sensitive information. The Chinese spy agency also alleges that U.S. intelligence services buy Chinese social media accounts and SIM cards to bypass national ID systems and reach targets online. On platforms like WeChat, the MSS has increased its messaging, urging citizens to report suspicious behavior and even offering rewards to those who reinforce Beijing's counter-espionage culture. Reactions on Chinese social media have largely ridiculed the CIA campaign. Users mocked the videos as amateurish, unrealistic, or simply laughable, and many questioned whether any serious individual would risk contacting the CIA given China's strict surveillance. Parodies quickly circulated online, turning the recruitment videos into memes. The dominant sentiment on Chinese platforms is that the CIA underestimates both Beijing's ability to control information and the average citizen's loyalty, or fear, of the regime. Despite online ridicule, the CIA's recent video campaign—though seemingly ham-handed, hokey, and easy to mock—may have been deliberately crafted that way. According to CIA The style and tone of the videos align closely with established There is a longstanding precedent for this type of information warfare. During the Cold War, the CIA covertly In this case, the CIA videos appear tailored to exploit rising disillusionment within the CCP. Under Xi Jinping's anti-corruption campaign, thousands of officials have been purged, often without warning or due process. The dramatizations in the recruitment videos mirror this reality, portraying mid-level bureaucrats living in fear of arbitrary punishment and ambitious professionals frustrated by career stagnation and inequality. According to former CIA China analyst Dennis Wilder, the campaign marks a shift from passive intelligence collection to active engagement. It may also serve as a form of psychological disruption, with the video targeting the CCP's internal cohesion. The campaign may also serve as a global signal. It tells U.S. allies and the American public that the intelligence community is once again taking the CCP threat seriously, following years of setbacks. It also projects a message to the Chinese diaspora, particularly professionals in academia, technology, and business: We're watching, and we want you on our side. According to the CIA's 'Psychological Operations in First, the videos show paranoia inside the CCP, forcing the regime to divert resources to internal surveillance. Second, they highlight internal corruption and dissatisfaction, amplifying fractures within the bureaucracy. Third, the campaign targets Chinese nationals abroad, positioning them as potential long-term intelligence assets. Fourth, its public nature reasserts the presence of U.S. intelligence and challenges the narrative of American decline. Finally, the operation may be designed to provoke an overreaction from Beijing, such as mass purges, heightened censorship, or crackdowns on foreign media, which could backfire diplomatically and further expose the CCP's authoritarianism. A heavy-handed response could also fuel internal dissent, increasing the likelihood that public officials or Chinese citizens might choose to cooperate with the CIA. The world of espionage is built on layers of lies and disinformation. The mere fact that the CIA released this video may be as significant—if not more so—than whether it actually recruits anyone. Xi Jinping now knows the CIA is targeting CCP members and Chinese citizens, and regardless of public mockery, he will be forced to respond, diverting resources at a time when he's already facing President Donald Trump in the White House and an escalating trade war. Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times.
