Trump ditched the TPP. Now it’s going into effect without the US
6 years ago

Trump ditched the TPP. Now it’s going into effect without the US

CNN  

New York CNN — A major 11-country agreement goes into effect Sunday, reshaping trade rules among economic powerhouses like Japan, Canada, Mexico and Australia — but the United States won’t be a part of it. Instead, he’s pursued a series of direct bilateral agreements, launching a trade war with escalating tariffs on $250 billion in Chinese goods to force Beijing to the negotiating table.The strategy has led to a new round of talks between Trump and his counterpart Xi Jinping — but leaves US producers out of broader regional arrangements with other Pacific Rim nations, for now. He’s also renegotiated the 1994 North American Free Trade Agreement, replacing it with a successor deal, the US-Mexico-Canada Agreement, which still needs congressional approval before it can take effect. Some of which were included in Trump’s renegotiated North America Free Trade Agreement, but won’t apply to US trade beyond Mexico and Canada for now.

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History of this topic

What Trump’s pledge to redo his own trade agreement with Canada and Mexico could mean
3 weeks, 6 days ago

What Trump’s pledge to redo his own trade agreement with Canada and Mexico could mean

CNN  

Washington CNN — President-elect Donald Trump’s frequent calls for new tariffs on foreign goods may have overshadowed another massive trade-related pledge he made about a month before the November election: renegotiate the US-Mexico-Canada Agreement. Known as the USMCA, the trade deal was negotiated by the first Trump administration and replaced the quarter-century-old North American Free Trade Agreement, or NAFTA, in …

Joint effort urged to meet challenges facing Asia-Pacific
Top News
1 month, 3 weeks ago

Joint effort urged to meet challenges facing Asia-Pacific

China Daily  

President Xi Jinping and other leaders and representatives from APEC member economies for the 31st APEC Economic Leaders' Meeting pose for a group photo at the Lima Convention Center in Lima, Peru, Nov 16, 2024. Addressing the 31st APEC Economic Leaders' Meeting, Xi called on Asia-Pacific countries to act in solidarity and cooperation to meet the challenges facing Asia-Pacific cooperation, …

Joint effort urged to meet challenges facing Asia-Pacific
Top News
1 month, 3 weeks ago

Joint effort urged to meet challenges facing Asia-Pacific

China Daily  

President Xi Jinping and other leaders and representatives from APEC member economies for the 31st APEC Economic Leaders' Meeting pose for a group photo at the Lima Convention Center in Lima, Peru, Nov 16, 2024. Addressing the 31st APEC Economic Leaders' Meeting, Xi called on Asia-Pacific countries to act in solidarity and cooperation to meet the challenges facing Asia-Pacific cooperation, …

Joint effort urged to meet challenges facing Asia-Pacific
Top News
1 month, 3 weeks ago

Joint effort urged to meet challenges facing Asia-Pacific

China Daily  

President Xi Jinping and other leaders and representatives from APEC member economies for the 31st APEC Economic Leaders' Meeting pose for a group photo at the Lima Convention Center in Lima, Peru, Nov 16, 2024. Addressing the 31st APEC Economic Leaders' Meeting, Xi called on Asia-Pacific countries to act in solidarity and cooperation to meet the challenges facing Asia-Pacific cooperation, …

Joint effort urged to meet challenges facing Asia-Pacific
1 month, 3 weeks ago

Joint effort urged to meet challenges facing Asia-Pacific

China Daily  

President Xi Jinping and other leaders and representatives from APEC member economies for the 31st APEC Economic Leaders' Meeting pose for a group photo at the Lima Convention Center in Lima, Peru, Nov 16, 2024. Addressing the 31st APEC Economic Leaders' Meeting, Xi called on Asia-Pacific countries to act in solidarity and cooperation to meet the challenges facing Asia-Pacific cooperation, …

US and China present competing visions for the Pacific
2 years, 7 months ago

US and China present competing visions for the Pacific

The Hindu  

Published : Jun 02, 2022 17:27 IST US President Joe Biden’s inaugural visit to Asia in May was seen as a reminder that Washington’s long-term foreign policy goals remain focused on Asia, even as the war in Ukraine currently takes centre stage. On May 26, after Biden’s tour, US Secretary of State Antony Blinken laid out the administration’s China strategy …

New Zealand’s Ardern urges US to return to regional trade pact
2 years, 7 months ago

New Zealand’s Ardern urges US to return to regional trade pact

Al Jazeera  

Remarks are latest signal by an Asia-Pacific leader that US President Biden’s engagement with region is falling short. While many countries in the region have welcomed Biden’s outreach amid shared concerns about Beijing’s growing assertiveness, the initiative has faced criticism for not expanding trade opportunities, including access to US markets. “New Zealand sees IPEF as a promising start, but it’s …

CPTPP: Trump abandoned this giant trade deal. Now, China wants in
3 years, 3 months ago

CPTPP: Trump abandoned this giant trade deal. Now, China wants in

CNN  

New Delhi CNN Business — China has applied to join a major Asia-Pacific trade partnership that the United States ditched several years ago, as the world’s second largest economy tries to bolster its relationships in the region. Foreign ministry spokesman Zhao Lijian called it “conducive to promoting regional economic integration in the Asia-Pacific region, as well as the economic recovery, …

Regional Comprehensive Economic Partnership
3 years, 4 months ago

Regional Comprehensive Economic Partnership

Hindustan Times  

Then President George W Bush announced in 2008 to join trade talks with a group comprising Brunei, Chile, New Zealand, and Singapore that had reached a trade agreement in 2005. Later, in 2008, Australia, Vietnam, Peru Canada, Japan, Malaysia, and Mexico joined the talks, making twelve countries in all, for what became to be called Trans Pacific Partnership. PREMIUM Former …

Joe Biden risks ceding control over Asia’s ‘digital oil’ to China
4 years, 1 month ago

Joe Biden risks ceding control over Asia’s ‘digital oil’ to China

Live Mint  

Now that Asia has stitched together the world’s biggest trading bloc, US financial and tech firms ought to be more than a little worried. Anti-free-trade groups like bilaterals.org have noted that TPP’s stricter digital trade rules would have won more ironclad guarantees for dominant tech companies. As Columbia Law School professor Katharina Pistor argues in her paper, Rule by Data: …

'Milestone of Great Significance': China on RCEP Agreement to Create World's Biggest Free Trade Bloc
4 years, 1 month ago

'Milestone of Great Significance': China on RCEP Agreement to Create World's Biggest Free Trade Bloc

News 18  

China on Monday termed the Regional Comprehensive Economic Partnership agreement to create the world’s biggest free trade bloc as a “milestone of great significance”, while studies showed that the deal is more of a strategic significance to Beijing providing marginal economic impact. However, analysts agree that the trade pact, which covers 30 per cent of the global economy, is far …

China, ASEAN, other Asian nations sign world's biggest trade deal, India withdrew last year
4 years, 1 month ago

China, ASEAN, other Asian nations sign world's biggest trade deal, India withdrew last year

India TV News  

China and 14 other Asian countries have agreed to form the world's largest free-trade bloc with nearly a third of all economic activity. The Regional Comprehensive Economic Partnership, or RCEP, was signed virtually on Sunday on the sidelines of the annual summit of the 10-nation Association of Southeast Asian Nations. "RCEP will soon be ratified by signatory countries and take …

Asia forms world's biggest trade bloc, a China-backed group excluding U.S.
4 years, 1 month ago

Asia forms world's biggest trade bloc, a China-backed group excluding U.S.

The Hindu  

Fifteen Asia-Pacific economies formed the world's largest free trade bloc on Sunday, a China-backed deal that excludes the United States, which had left a rival Asia-Pacific grouping under President Donald Trump. “RCEP will soon be ratified by signatory countries and take effect, contributing to the post-COVID pandemic economic recovery,” said Nguyen Xuan Phuc, Prime Minister of Vietnam, which hosted the …

China, 14 Asian nations to sign world’s biggest free-trade deal this weekend
4 years, 1 month ago

China, 14 Asian nations to sign world’s biggest free-trade deal this weekend

Live Mint  

Fifteen Asia-Pacific nations including China aim to clinch the world’s largest free-trade agreement this weekend, the culmination of Beijing’s decade-long quest for greater economic integration with a region that encompasses nearly a third of the global gross domestic product. Malaysia’s Trade Minister Azmin Ali told reporters the deal would be signed on Sunday, calling it the culmination of “eight years …

US trade policy is ready for its Biden makeover
4 years, 2 months ago

US trade policy is ready for its Biden makeover

Live Mint  

If he winds up facing a hostile Senate, President-elect Joe Biden will struggle to make sweeping policy changes. Biden will have the power to reverse many of the Trump administration’s bad policies to strengthen trade with allies and potential allies, while keeping up the technological competition with China. Helping Vietnam to grow its economy rapidly by exporting goods to the …

Ranil Wickremesinghe's keynote address at The Huddle 2020
4 years, 10 months ago

Ranil Wickremesinghe's keynote address at The Huddle 2020

The Hindu  

Former Prime Minister of Sri Lanka Ranil Wickremesinghe opened the second day of The Huddle 2020, The Hindu ’s annual thought conclave, at the ITC Gardenia in Bengaluru on Sunday. On the other hand, South East Asia started a slow but successful march towards regional integration - starting with ASEAN – The Association of South East Asian Nations. According to …

What Trump’s new North American trade deal actually does
4 years, 11 months ago

What Trump’s new North American trade deal actually does

Associated Press  

WASHINGTON — When President Donald Trump signed a revamped trade agreement with Mexico and Canada into law Wednesday, he kept a campaign pledge to improve upon a deal that he had long condemned. Trump’s version mostly continues to allow the free flow of trade across North American borders of the three countries. Democrats complained that the deal that Trump’s team …

Even as Trump claims two victories on trade, doubts remain
4 years, 11 months ago

Even as Trump claims two victories on trade, doubts remain

Associated Press  

WASHINGTON — President Donald Trump’s trade deal with China last week opened up export opportunities for American farmers, manufacturers and energy producers. Many trade experts say they worry that in the long run, Trump’s relentlessly confrontational stance and eager embrace of tariffs could pose risks to both the U.S. and global economies. Here is a closer look at Trump’s recent …

United States and China sign phase one of new trade deal
4 years, 11 months ago

United States and China sign phase one of new trade deal

ABC  

The United States and China have announced an initial trade deal that will roll back some tariffs and boost Chinese purchases of US goods and services, defusing an 18-month conflict between the world's two largest economies. Key points: The centrepiece of the deal is a pledge by China to purchase an additional $US200 billion of US farm products and other …

U.S., China tiptoe around holes in new trade agreement
4 years, 11 months ago

U.S., China tiptoe around holes in new trade agreement

The Hindu  

The United States and China signed an initial trade deal on January 15 that will roll back some tariffs and boost Chinese purchases of U.S. products, defusing an 18-month row between the world's two largest economies but leaving a number of sore spots unresolved. Mr. Liu said Chinese companies would buy $40 billion in U.S. agricultural products annually over the …

Democrats agree to North America trade pact: What’s in it?
5 years ago

Democrats agree to North America trade pact: What’s in it?

Associated Press  

WASHINGTON — After months of political wrangling, House Democrats agreed Tuesday to President Donald Trump’s revamped version of a 25-year-old North American free trade agreement. With characteristic brio, the president took to Twitter to declare: “It will be the best and most important trade deal ever made by the USA.’’ More than anything, though, USMCA would just restore certainty to …

Companies welcome US-China trade truce, warn disputes remain
5 years, 2 months ago

Companies welcome US-China trade truce, warn disputes remain

Associated Press  

BEIJING — Companies have welcomed a U.S.-Chinese trade truce as a possible step toward breaking a deadlock in a 15-month-old tariff war, while economists caution there was little progress toward settling core disputes including technology that threaten global growth. Trump said Friday’s deal has yet to be put down on paper but said, “We should be able to get that …

Trump announces partial deal with China, but comprehensive solution still looks far off
5 years, 3 months ago

Trump announces partial deal with China, but comprehensive solution still looks far off

LA Times  

Facing a slowing U.S. economy, growing complaints from farmers and political pressure over impeachment, President Trump on Friday announced a partial, tentative trade agreement with China despite his long-standing insistence that he would only strike a tough, comprehensive deal with Beijing. Trump said the agreement, which came after a resumption of high-level trade talks in Washington this week, would include …

US-China trade negotiators reach preliminary agreement
5 years, 3 months ago

US-China trade negotiators reach preliminary agreement

CNN  

Washington CNN — US and Chinese negotiators reached a preliminary agreement Friday that will ease trade tensions, but it falls short of a comprehensive deal. “We’ve come to a very substantial phase one deal,” President Donald Trump announced in the Oval Office alongside Chinese Vice Premier Liu He Friday afternoon. “I hope the two sides will act in the principle …

Donald Trump says no need to strike trade agreement with China before 2020 US presidential elections
5 years, 3 months ago

Donald Trump says no need to strike trade agreement with China before 2020 US presidential elections

Firstpost  

US president Donald Trump has said he does not feel the need to strike a trade agreement with China before the next year’s presidential elections, emphasising that he is looking for a complete and not a ‘partial deal’ with Beijing Washington: US president Donald Trump has said he does not feel the need to strike a trade agreement with China …

India-China spat delays deal covering a third of global trade
5 years, 4 months ago

India-China spat delays deal covering a third of global trade

Live Mint  

A spat between the world’s most populous countries is holding up a pan-Asian trade agreement encompassing nearly a third of all global trade. Covering nearly half of the globe’s population, the Regional Comprehensive Economic Partnership was proclaimed “the world’s biggest regional free trade deal” when talks started in 2012. “China wants it because of the Sino-U.S. trade war,” he added, …

No special treatment to China, India, S Africa, Indonesia at WTO, says Trump
5 years, 5 months ago

No special treatment to China, India, S Africa, Indonesia at WTO, says Trump

Live Mint  

Geneva: Continuing his trade wars on multiple fronts, President Donald Trump has dropped another bombshell. Otherwise, the US “will not support any such country’s membership in the OECD ”; “consider the WTO member’s involvement in global trade, membership in key economic decision-making groups, placement within relative economic and other indicators, and any other factors the USTR deems appropriate”; and the …

China going to make trade deal with United States: Donald Trump
5 years, 7 months ago

China going to make trade deal with United States: Donald Trump

India TV News  

US President Donald Trump said China will be left with no other option but to enter into a trade deal with the United States because his increased tariffs on Chinese products is having an impact on its economy. You know why, because of tariffs, because right now China is getting absolutely decimated by companies that are leaving China going to …

Japan trade a problem for Trump, but not as bad as China
5 years, 7 months ago

Japan trade a problem for Trump, but not as bad as China

Associated Press  

TOKYO — When President Donald Trump visits Japan, he’ll be able to point to Tokyo’s streets to drive home a sore point in trade relations between the allies: the absence of made-in-USA vehicles. The $70 billion Japanese trade surplus with the U.S. is dwarfed by China’s $379 billion surplus, and the trade tensions between Washington and Tokyo are far less …

US-China trade war: where Trump went wrong
5 years, 7 months ago

US-China trade war: where Trump went wrong

CNN  

Editor’s Note: Joshua P. Meltzer is a senior fellow in the Global Economy and Development program at the Brookings Institution. Earlier this month, the United States imposed 25% tariffs on $200 billion worth of imports from China and is threatening tariffs on an additional $325 billion in Chinese goods. But a successful deal between the United States and China must …

Tariffs are President Donald Trump’s go-to move
5 years, 7 months ago

Tariffs are President Donald Trump’s go-to move

CNN  

CNN — Who isn’t President Donald Trump targeting with a trade war? Trump’s aggressive moves have US clothing companies “freaked.” Farmers hurt by the trade war are looking for another multi-billion dollar aid payout from taxpayers, automobile manufacturers are anxiously awaiting separate tariffs Trump is considering. Second, Trump would like you to know that despite what you read in the …

US, Canada, Mexico sign trade deal after last-minute brinkmanship
6 years, 1 month ago

US, Canada, Mexico sign trade deal after last-minute brinkmanship

Live Mint  

Buenos Aires: The leaders of Mexico, Canada and the United States signed a North American trade pact on Friday after brinkmanship over the final details of the deal continued through the eve of the signing. Trump forced Canada and Mexico to renegotiate the 24-year-old agreement because he said the existing pact encouraged US companies to move jobs to low-wage Mexico. …

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