Latest news with #USCommerce
South China Morning Post
19 hours ago
- Business
- South China Morning Post
Chinese premier says officials must adapt to ‘complex and severe' situation
Chinese Premier Li Qiang has urged the nation's officials to improve their ability to anticipate challenges and accurately implement policies amid a turbulent geopolitical environment. 'At present, the task to comprehensively promote the Chinese path to modernisation with high-quality development is heavy and difficult, with the external situation remaining complex and severe,' he said on Wednesday, as reported by state-run news agency Xinhua. During this difficult period, officials needed to improve their 'ability to anticipate the situation and accurately implement policies,' he added during a ceremony to swear in 49 newly appointed central government officials. Li's comments come as China faces rising tensions with the West over a series of trade and technology-related issues. The country remains locked in negotiations with the United States over tariffs and export controls, and is also preparing for a major trade summit with the European Union in July. American and Chinese officials concluded their latest round of talks in London on Tuesday, with both sides agreeing in principle to a framework designed to de-escalate a feud over rare earths and sales of strategic technologies such as jet engines. But America will still place a total tariff of 55 per cent on Chinese goods and will not change the rate from that level, US Commerce Secretary Howard Lutnick said in an interview with CNBC on Wednesday.
Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
Tengku Zafrul to go to Washington again for tariff talks
Investment, trade and industry minister Tengku Zafrul Aziz previously had said talks with the US would focus on lowering the 24% tariff, easing non-tariff barriers, and addressing the trade imbalance. (Bernama pic) PETALING JAYA : Investment, trade and industry minister Tengku Zafrul Aziz will travel to Washington on June 18 to continue negotiations over US tariffs imposed on Malaysian goods. Speaking after an event in Kuala Lumpur today, Tengku Zafrul said he briefed the Cabinet earlier today on the upcoming visit. 'I will be going to the United States next week, and we will continue in-person negotiations. Previously, discussions were held online,' Bernama quoted him as saying. Tengku Zafrul added that he was scheduled to meet US Trade Representative Jamieson Greer and other US officials, investors and key business groups, including the American Malaysian Chamber of Commerce (AMCHAM) and the US-Asean Business Council. Tengku Zafrul's follow-up visit comes after his visit in April, during which he met with Greer and US Secretary of Commerce Howard Lutnick. Malaysia faces a 24% tariff on certain exports to the US unless both sides reach an agreement before the current 90-day pause ends on July 8. Tengku Zafrul previously said that talks with the US would focus on three specific areas, namely reducing the 24% rate, non-tariff trade barriers and trade imbalance between the two nations.
CNA
2 days ago
- Business
- CNA
China says ready to 'strengthen cooperation' with US in future talks: Report
BEIJING: China's vice premier and top trade negotiator stressed the need for Beijing and Washington to strengthen cooperation and reduce "misunderstandings" in future dialogue, according to state media on Wednesday (Jun 11) following trade talks in London. After months of global turmoil as the world's two largest economies squared off over reciprocal tariffs, the two sides "made new progress in resolving each other's economic and trade concerns", state broadcaster CCTV reported. The London negotiations follow talks in Geneva last month, which saw a temporary agreement to lower tariffs. "As a next step, the two sides should ... continuously enhance consensus, reduce misunderstandings and strengthen cooperation," Vice Premier He Lifeng said, according to state broadcaster CCTV. Top officials from the United States and China said on Tuesday that they had agreed on a "framework" to move forward on trade, following two days of high-level talks in the British capital to resolve tensions. US Commerce Secretary Howard Lutnick expressed optimism after a full day of negotiations that concerns surrounding rare earth minerals and magnets "will be resolved" eventually, as the deal is implemented. But this framework will first need to be approved by leaders in Washington and Beijing, officials said, at the end of meetings at London's historic Lancaster House. In its readout of the talks released on Wednesday, Beijing's state media said the Chinese side "reiterated that the two sides should meet each other halfway, keep promises and fulfil actions". "The two sides had candid and in-depth dialogue (and) exchanged in-depth views on economic and trade issues of mutual concern," it said. They "reached a consensus in principle on the framework of measures to implement the important consensus reached by the two heads of state in their Jun 5 phone call", the broadcaster added, referring to recent talks between leaders Xi Jinping and Donald Trump. This time, China's exports of rare earth minerals, used in a range of things including smartphones, electric vehicle batteries and green technology, were a key issue on the agenda, with Washington accusing Beijing of dragging its feet on approving exports.
Reuters
2 days ago
- Business
- Reuters
Lutnick says US-China talks going well, could run into Wednesday
LONDON, June 10 (Reuters) - U.S. Commerce Secretary Howard Lutnick said trade talks with Chinese officials were going well and he hoped they would end on Tuesday night, but said they could run into Wednesday. "I think the talks are going really, really well. We're very much spending time and effort and energy - everybody's got their head down working closely," Lutnick told reporters at Lancaster House in London, where teams from both countries have met for two days. "I hope they end this evening, but if they need be, we'll be here tomorrow, but I hope they end this evening," he added.
Reuters
2 days ago
- Business
- Reuters
US-China trade talks going well, says Lutnick
LONDON, June 10 (Reuters) - U.S. Commerce Secretary Howard Lutnick told reporters that trade talks with China that are taking place in London were going well and were expected to last all day on Tuesday.
