Photo: Reuters

Topic

US-China trade wari

Breaking news and analysis on the US-China trade war, its history and timeline, and the impact on the global economy.

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  • A tripling of US tariffs on China’s steel imports is likely to trigger a response, analysts said, setting the stage for an expansion of the trade war
  • Action the latest move in an overall strategy to counter industrial overcapacity, as several of China’s trade partners have lodged their own complaints
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US Treasury Secretary’s meetings to include talks with China on ‘balanced growth’, a new dialogue to address China’s excess industrial capacity for EVs, solar panels and other clean energy goods.

Treasury Secretary Janet Yellen ended her week-long trip to China on Tuesday, saying the US had been able to ‘move the ball’ on key issues, while analysts said the visit had focused on ‘practical short-term issues’.

Speaking in Paris to Chinese makers of electric vehicles and lithium batteries, commerce chief Wang Wentao vows Beijing will ‘fully support and defend’ their rights as Western pressure mounts.

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Premier Li urges Washington to view industrial capacity ‘objectively’ during meeting with visiting US Treasury Secretary Yellen, who raised issue of excessive Chinese exports, especially new energy vehicles and solar panels.

Seeking economic opportunity, Chinese merchants build bustling wholesale markets, sell Made in China goods and deal with occasional resistance from Mexican vendors.

Observers and business figures are seeing changes in global supply chains as the US’ trade restrictions begin to have an effect – and think China needs to readjust its game plan to respond to these shifts appropriately.

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Xinhua’s conciliatory editorial line is in sharp contrast to its accusation just weeks earlier that the US had a ‘friend or foe’ mindset that would lead nowhere.

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As more details emerge related to US Treasury Secretary Janet Yellen’s coming trip to China, signs indicate excess capacity in sectors like electric vehicles will be a major sticking point in trade discussions.

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Washington has asked countries with US business interests to avoid selling sensitive tech-related gear to China, and analysts say it would take China a while to develop its own advanced chips industry.