As U.S. President Donald Trump and Chinese Vice Premier Liu He prepare to sign the ‘phase 1’ trade deal, data show that the costs of Trump’s trade wars are proving more widespread, deeper and longer-lasting than previously believed. Research from the U.S. Federal Reserve and other top economists shows that U.S. tariffs on Chinese industrial components and materials, which largely won’t be lifted ...

China has committed to making large scale purchases of US$200 billion of American goods as part of the phase one trade deal. Purchase target for manufactured goods of around US$75 billion, with China also committing to buy huge amounts of energy, agriculture and services. The target for manufactured goods purchases will be the largest, worth around US$75 billion, US$50 billion worth ...

Trade with Beijing and Tokyo will remain in the spotlight, as U.S. Trade Representative Robert Lighthizer embarks on ‘phase-two’ negotiations with both countries. Vietnam and other countries in Asia could also receive increased attention, if Trump remains serious about negotiating bilateral trade deals to replace the 12-nation Trans-Pacific Partnership that he pulled out of on his third day in office. ...

In the wake of the U.S. killing of a top Iranian general, Japanese Prime Minister Shinzo Abe called on all parties in the conflict to solve their problems through diplomatic means. Abe is deeply concerned about the situation in the Middle East following the killing of Qasem Soleimani. Abe also urged parties to avoid any escalation in the region and stressed the importance ...

Japan’s economic growth is expected to slow modestly in 2020, as a consumption tax hike combined with a sluggish global economy are poised to drag on flagging consumer spending and exports. The government’s 26 trillion yen ($237 billion) stimulus package and Tokyo Olympics and Paralympics-linked spending by tourists will serve to underpin the world’s third-largest economy. Japan’s real gross domestic ...

U.S. beef exports have trailed year-ago levels for each of the first 10 months of 2019, but there is growing optimism that international demand for U.S. beef will improve in 2020. The latest positive development occurred in December, when Japan finalized approval of the U.S.-Japan Trade Agreement. This will improve the competitive position of U.S. beef in Japan by allowing the ...

The euro, the pound and a clutch of trade-sensitive currencies rallied as the dollar slid to a six-month low, as investor confidence in global growth prospects and the Phase 1 U.S.-China trade deal spurred a risk-on move. The first phase of an American trade deal with China would be signed on Jan. 15 at the White House. The dollar index was ...

The European Union’s new trade commissioner, Irishman Phil Hogan, seeks a reset of EU/US trade relations on a number of contentious issues when he meets his U.S. counterpart for the first time next month. The Trump administration imposed tariffs on European steel and aluminum in mid-2018. It has done the same to $7.5 billion worth of EU products over a dispute ...

India and the US have signed an agreement to facilitate transfer of defence technology during a 2+2 meeting of the top foreign affairs and defence leaders on growing strategic relations between the world’s largest and most powerful democracies. India’s Defence Minister Rajnath Singh, and External Affairs Minister S. Jaishankar, and US Secretary of State Mike Pompeo and Defence Secretary Mark ...

To promote bilateral ties in trade, investment, culture and tourism, Cambodia is all set to open its sixth trade center in China towards the end of December. The new trade center will be located in Kunming, the capital of southwest China’s Yunnan province. Cambodian Deputy Prime Minister Yim Chhay Ly is scheduled to attend the launch ceremony. The existing five Cambodian trade ...