Latest news with #Washington-Beijing
The Star
11-08-2025
- Business
- The Star
Trump urges China to quadruple soybean orders
U.S. President Donald Trump on Sunday urged China to quadruple its soybean purchases ahead of a key tariff truce deadline, sending Chicago soybean prices higher, though analysts were quick to question the feasibility of any such deal. In a late night post on Truth Social, Trump said China was worried about a shortage of soybeans and he hoped it would quickly quadruple its soybean orders from the U.S. "Rapid service will be provided. Thank you President XI," Trump said in his post. The most active soybean contract on the Chicago Board of Trade (CBOT) jumped 2.38% to $10.11 a bushel at 0637 GMT on Monday after Trump's post. The contract was steady earlier. China, the world's largest soybean buyer, imported roughly 105 million metric tons last year, just under a quarter coming from the U.S. and most of the remainder from Brazil. Quadrupling shipments would require China to import the bulk of its soybeans from the U.S. "It's highly unlikely that China would ever buy four times its usual volume of soybeans from the U.S.," said Johnny Xiang, founder of Beijing-based AgRadar Consulting. A tariff truce between Beijing and Washington is set to expire on August 12, but the Trump administration has hinted that the deadline may be extended. It is unclear if securing China's agreement to buy more U.S. soybeans is a condition for extending the truce as Trump looks to reduce China's trade surplus with the U.S. China's soymeal futures fell 0.65% to 3,068 yuan per metric ton on expectations U.S. imports could increase supply. China's Ministry of Commerce did not immediately respond to a Reuters request for comment. Under the Phase One trade deal signed during Trump's first term, China agreed to boost purchases of U.S. agricultural products, including soybeans. However, Beijing fell far short of meeting those targets. This year, amid Washington-Beijing trade tensions, it has yet to buy any fourth quarter U.S. beans, fuelling concerns as the U.S. harvest export season approaches. "On Beijing's side, there have been quite a few signals that China is prepared to forego U.S. soybeans altogether this year, including booking those test cargoes of soymeal from Argentina," said Even Rogers Pay, an agricultural analyst at Trivium China. Reuters previously reported that Chinese feedmakers have purchased three Argentine soymeal cargoes as they aim to secure cheaper South American supplies amid concerns about a possible soybean supply disruption in the fourth quarter. U.S. soybean industry has been seeking alternative buyers, but no other country matches China's scale. Last year, China imported 22.13 million tons of soybeans from the U.S., and 74.65 million tons from Brazil. - Reuters
Business Times
14-07-2025
- Business
- Business Times
China clears Synopsys's US$35 billion Ansys buyout in US win
[HONG KONG] Synopsys has secured China's approval to buy out Ansys for US$35 billion, a major win for a company regarded as key to helping sustain US dominance of certain aspects of semiconductor technology. The State Administration for Market Regulation gave the acquisition a green light, with certain conditions, the agency said in a statement. Among other things, the Chinese watchdog mandated that Synopsys cannot reject requests from customers to renew their contracts. Washington this year briefly considered limiting Synopsys and its rivals from dealing with Chinese clients on the grounds of national security. Synopsys and Cadence Design Systems – the two American firms that dominate the global market for software tools used to design chips – got drawn into the Washington-Beijing trade war this year. The US imposed a licensing requirement that would've limited exports of their products, part of its response to Beijing's limits on rare earths, before abruptly lifting that mandate weeks later. Following Beijing's decision, Synopsys has cleared one of the last major hurdles to a deal to intended to shore up its market position. The buyout, announced in early 2024, was already approved by European and US authorities. In June, reports emerged that Chinese officials were delaying it in part because of escalating tensions over Washington's chip sanctions. Synopsys shares rose as much as 3.7 per cent in premarket trading on Monday. They have risen about 15 per cent so far this year. US companies seeking Chinese antitrust approval – particularly for deals in the tech sector – are often caught in the middle of geopolitical disputes between the countries. The companies needed Beijing's sign off because China is one of the world's largest semiconductor markets. In 2018, US-based Qualcomm scrapped a US$44 billion bid for Dutch chipmaker NXP Semiconductors after failing to secure a nod in time. As recently as 2023, Intel Corp. abandoned its proposed US$5.4 billion acquisition of Tower Semiconductor for the same reason. Broadcom's US$61 billion merger with software maker VMware eventually went through, although investors remained on edge throughout the process due to speculation that China would hold up the deal. BLOOMBERG
Korea Herald
07-05-2025
- Business
- Korea Herald
Seoul shares open tad higher on upcoming US-China trade talks
South Korean stocks opened a tad higher Wednesday on news that the United States and China will start trade talks later this week following President Donald Trump's tariff policies. The Korean won also started sharply higher to trade at a six-month high of 1,380 won per dollar at the opening. The benchmark Korea Composite Stock Price Index added 0.74 point, or 0.03 percent, to 2,560.53 in the first 15 minutes of trading. The Washington-Beijing trade negotiations are scheduled to take place in Switzerland this weekend, with US Treasury Secretary Scott Bessent and China's Vice Premier He Lifeng attending. Wall Street, however, finished lower before the announcement of the US-China trade talks. The Dow Jones Industrial Average fell 0.95 percent, and the Nasdaq composite lost 0.87 percent. In Seoul, most shares started in positive territory. Market bellwether Samsung Electronics rose 0.28 percent and its chipmaking rival SK hynix gained 0.7 percent. Leading battery maker LG Energy Solution increased 0.39 percent, and top defense firm Hanwha Aerospace went up 2.69 percent. The local currency was trading at 1,384.35 won against the US dollar at 9:15 a.m., up 26.05 won from the previous session. (Yonhap)
Time of India
06-05-2025
- Business
- Time of India
Apple supplier Jabil eyeing more AirPods casing from India plants
Apple supplier Jabil is planning to significantly boost sourcing of AirPods enclosures from India by tapping its planned second facility in the country, said multiple people aware of the developments. The move reflects a broader push by Apple to diversify its supplier base from China amid global tariff-related uncertainties and the ongoing Washington-Beijing trade war. Jabil, which currently makes plastic bodies or casings for AirPods at its Pune plant, is considering using the Tiruchirappalli (Trichy) factory in Tamil Nadu to expand AirPods production, the people said. "Jabil is considering Trichy as an AirPods production option," said one of the persons cited above. "They are expected to get back to the state government on their final plan by the end of June or July." The person added that the US company's executives met Tamil Nadu chief minister MK Stalin in Chennai last month, after which they visited Trichy where construction is yet to begin for the proposed facility. "Jabil, like other Apple suppliers, is looking to strengthen their manufacturing footprint in India," a second person said. "They see value in being able to double down on their production capabilities for Apple in India." "AirPods component production is a fairly new category in India and one that is expected to gain more significance in the near future and companies like Jabil are hoping to be ahead of the curve," the person said. Jabil and Apple did not respond to ET's queries. Jabil's plan to boost India production follows reports that Foxconn 's Hyderabad facility has started AirPods assembly for exports. This signals that Apple is strategically expanding its manufacturing base in India to reduce its reliance on China and diversify its global supply chain, experts noted. Apple, on its part, has made significant investments in India through their partners Foxconn and Tata Group, particular for iPhone manufacturing. "In the overarching context of ongoing supply chain realignments and geopolitical uncertainties, India has been a key node for Apple's AirPods ambitions," said Prabhu Ram, vice president - industry research group at CyberMedia Research. "Jabil's Indian operations already supply critical casings for AirPods assembly in China and Vietnam. With the potential expansion moves in Trichy, India is slowly getting its end-to-end Apple manufacturing ecosystem together, from assembly to components." Jabil announced on September 10 last year that it had signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for its manufacturing plan in Trichy. The signing, which took place in Chicago, was attended by the state's chief minister M K Stalin, and industries minister T R B Rajaa.
Time of India
06-05-2025
- Business
- Time of India
Apple supplier Jabil eyeing more AirPods casing from India plants
Apple supplier Jabil is planning to significantly boost sourcing of AirPods enclosures from India by tapping its planned second facility in the country, said multiple people aware of the developments. The move reflects a broader push by Apple to diversify its supplier base from China amid global tariff-related uncertainties and the ongoing Washington-Beijing trade war. #Pahalgam Terrorist Attack Pakistan's economy has much more to lose than India's due to the ongoing tensions, warns Moody's Ratings The day Pakistan got the power to poke India FM Sitharaman meets ADB chief and Italian FM, discusses economic issues; no mention of Pakistan Jabil, which currently makes plastic bodies or casings for AirPods at its Pune plant, is considering using the Tiruchirappalli (Trichy) factory in Tamil Nadu to expand AirPods production, the people said. "Jabil is considering Trichy as an AirPods production option," said one of the persons cited above. "They are expected to get back to the state government on their final plan by the end of June or July." The person added that the US company's executives met Tamil Nadu chief minister MK Stalin in Chennai last month, after which they visited Trichy where construction is yet to begin for the proposed facility. "Jabil, like other Apple suppliers, is looking to strengthen their manufacturing footprint in India," a second person said. "They see value in being able to double down on their production capabilities for Apple in India." "AirPods component production is a fairly new category in India and one that is expected to gain more significance in the near future and companies like Jabil are hoping to be ahead of the curve," the person said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Jabil and Apple did not respond to ET's queries. Jabil's plan to boost India production follows reports that Foxconn 's Hyderabad facility has started AirPods assembly for exports. This signals that Apple is strategically expanding its manufacturing base in India to reduce its reliance on China and diversify its global supply chain, experts noted. Apple, on its part, has made significant investments in India through their partners Foxconn and Tata Group, particular for iPhone manufacturing. "In the overarching context of ongoing supply chain realignments and geopolitical uncertainties, India has been a key node for Apple's AirPods ambitions," said Prabhu Ram, vice president - industry research group at CyberMedia Research. "Jabil's Indian operations already supply critical casings for AirPods assembly in China and Vietnam. With the potential expansion moves in Trichy, India is slowly getting its end-to-end Apple manufacturing ecosystem together, from assembly to components." Jabil announced on September 10 last year that it had signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for its manufacturing plan in Trichy. The signing, which took place in Chicago, was attended by the state's chief minister M K Stalin, and industries minister T R B Rajaa.
