U.S. Trade Representative Robert Lighthizer said Wednesday that he will be speaking with a Chinese official before President Donald Trump meets with Chinese President Xi Jinping at the G-20 summit. Read more
Tech giant asks suppliers to review costs in Southeast Asia and Mexico Read more
Cities and banks urged to push infrastructure, sending liabilities soaring again. These projects generate job stability in the short run, but China’s long-term debt risks worsening, which threatens to bring the world’s second-largest economy to a standstill. Read more
Tighter supplies of staple meat deal new economic blow amid trade row with US Read more
China produces and consumes two-thirds of the world’s pork, but output is plunging as Beijing destroys herds and blocks shipments to stop African swine fever. Importers are filling the gap by buying pork as far away as Europe, boosting prices by up to 40% and causing shortages in other markets.
President Xi Jinping has called for the Chinese people to begin a modern “long march,” invoking a time of hardship from the country’s history as it braces for a protracted trade war with the United States, in an attempt to rally the nation as trade tensions with the United States escalate. China’s currency is weakening. It has been an important barometer for progress in U.S.-Chinese trade talks, and right now it’s signaling that things aren’t going well Read more
USTR announced an increase of special tariffs to 25% on $200 billion of U.S. imports from China on May 10 (“3rd List”), and then, on May 13, announced a “4th List” of $300 billion of imports from China subject to special tariffs, so the tariffs will cover all U.S. imports from China. Contact CTRMS for help moving sourcing from China to Vietnam, including “Advance Rulings” from U.S. Customs and Border Protection. Read more
Lists of products imported from China to U.S. that are subject to special tariffs. A 4th list, covering about $300 billion of U.S. imports from China was announced on May 9, 2019, after China’s last-minute refusal of an agreement negotiated over several months. Modifications to the 4th list were announced on 08/13/2019. And modifications to all lists were announced on 08/23/2019.
Escalations in its trade dispute with the U.S. not only could dent China’s economy but also negatively impact its credit standing, according to ratings agencies. China’s faces a weakening economy and a high-stakes tariff battle with the U.S.Should the impasse linger on, the damages could become greater and start having some deeper impacts. Read more
The U.S. Trade Representative is taking the necessary steps to impose tariffs on the remaining $300 billions worth of Chinese goods coming into the U.S. The USTR plans to hold a public hearing on June 17, followed by at least a week of discussions. This gives the White House a window of time leading up to the G-20 Summit, Jun 28-29 to decide. Read more