trade war
- Business News
US imposes major tariffs on Chinese EVs and semiconductors
The United States recently imposed substantial tariffs on Chinese products, focusing particularly on electric vehicles (EVs) and semiconductors. This move is expected to push China to expand its EV manufacturing within Asia, with Thailand emerging as a significant export hub, according to the Federation of Thai Industries (FTI). President Joe Biden’s administration cited Beijing’s unfair trade practices as the reason for…
- World News
China investigating ministry member for alleged CIA espionage
China’s state security ministry has launched an investigation into a 39 year old Chinese national, identified only by his surname Hao, over allegations of espionage on behalf of the United States Central Intelligence Agency (CIA). Hao, who once held a position at a ministry, was reportedly recruited while studying in Japan. This development comes less than two weeks after another…
- Business News
Trade war triggers fear of new EV chip shortage from China export limit
Leading authorities in the industry fear another chip shortage could soon hit electric vehicle (EV) manufacturers. This comes as China limits the export of two significant metals, a move driven by the ongoing trade dispute between Washington and Beijing, as reported by the Federation of Thai Industries (FTI). As of August 1, China will impose trade restrictions on select products…
- Politics News
China bans US Micron chips, escalating global chip industry risks
China’s recent ban on certain sectors using chips from United States-based Micron Technology has highlighted the potential risks faced by the global chip industry amidst rising Sino-US trade tensions. The move against Micron, the largest US memory chipmaker, is widely perceived as retaliation for Washington’s attempts to limit Beijing’s access to crucial technology. This comes as the Group of Seven…
- Economy News
Local markets in Asia retreat as US President Trump talks up revised trade war
Steep losses are the order of the day as local markets follow the lead from a sell off in New York after US President Trump foreshadowed a new round of trade sanctions on China. The US President and his Secretary of State Mike Pompeo have openly accused the Chinese government that the Covid-19 started in a lab in Wuhan, and that…
- World News
The US and China sign Phase One of new trade agreement today
The United States and China are poised to sign a trade truce today after a protracted trade spat that has impacted both countrys’ economies and shaken spread unease through world trade links. Both sides describe the result of the ‘Phase One’ agreement as ‘hard fought’. The signing signals a fragile truce and a prickly period of reconciliation between the world’s two…
- World News
The baht keeps surging – and other predictions for the Thai economy in 2020
The last time the Thai baht’s value against theUSD touched 29 baht/US dollar was back in 2013. But the currency appreciation situation was quite different then. Today it’s floating around 30 baht in its 22nd year as a floating international currency. How will all that affect the Thai economy in 2020? Now the strong baht is a result of the…
- Economy News
Focus back on US-China trade talks – Asian markets rise
“A large percentage of the market thinks China may roll the dice and take advantage of what they think is Trump’s weakened political state.” Asian markets rise today as investors resume their focus on the next round of China-US trade talks this week. But hopes for success are being tempered by mixed messages from both sides of the table. There has been…
- World News
US trying to make ‘meaningful progress’ in US-China trade negotiations
PHOTO: CNBC by Heather Scott US trade negotiators want to make “meaningful progress” in upcoming talks with China, according to Treasury Secretary Steven Mnuchin, one day after conciliatory gestures by both sides boosted hopes of an eventual resolution. The slugfest between the world’s two largest economies has cast a shadow over global economic growth with both Chinese and US economies…
- World News
China’s exports fell last month in lead up to next month’s trade talks
China’s exports fell 1% on-year last month amid the bruising trade war with the US that is disrupting markets in the world’s top two economies. The drop comes after a surprise 3.3% rebound in July despite the year-long battle with the US and weakening global demand. But economists cited by Bloomberg had forecast a 2.2% rise ahead of the release of…
- Economy News
Asian stock markets mostly rise on positive news
“China announced it would resume trade talks with the US in Washington next month.” Most Asian equities and currencies rallied today, building on the previous day’s advance as investors were cheered by a number of positive developments on trade, Hong Kong and Europe. Markets were already on an upward trajectory after the leader of Hong Kong withdrew a controversial extradition…
- Economy News
Thai economic committee warns about stagnant growth in second half of 2019
The Joint Standing Committee on Commerce, Industry and Banking says they’re concerned by threats to the performance of the Thai economy in the second half of this year. The office says the lack of stimulating factors and the project of an ever-stronger baht will stifle economic expansion and the economy will fail to reach targets. The JSCCIB President Preedee Daochai…
- Business News
World economy wakes up to a day when the US has imposed new tariffs on China
The US has rolled out new tariffs on Chinese products yesterday but some economists say the latest gamble is likely to backfire and hurt the US economy. Meanwhile they predict the ramping up of the tariff ti-for-tat will not tarnish China’s resilience or dampen development in the long run. Yesterday the US administration imposed 15% additional tariffs on about half…
- World News
Google moves manufacture of Pixel phone from China to Vietnam
Google is shifting the manufacturer of their Pixel smartphone from China to Vietnam. The move is said to happen before the end of this year, as reported by Nikkei. Google cited increasing Chinese labour costs and added pressure from tariffs in the ongoing China-US trade spat. The US-based internet giant is reported to be moving both the manufacturer of its…
- Business News
Baht to climb higher against USD, more pressure on exports
The Thai baht is set to soar further as one side effect of the latest escalation of the China-US trade war. Economists say the latest tit-for-tat trade sanctions will hasten foreign capital inflows into Thailand’s “safe haven” bond market while the US Federal Reserves may again cut interest rates, adding more fuel to the situation. Meanwhile the Thai export situation…
- World News
US and China ramp up the rhetoric and the tariffs in a day of tit-for-tat
Beijing has unveiled a new round of retaliatory tariffs on the US valued around US$75 billion. China will now place additional tariffs of 5%-10% on US imports starting next week. The tit-for-tat trade war between the world’s two largest economies is causing widespread disruption to supply chains and long-held trade conventions. China’s Finance Ministry says they will also resume tariffs on…
- World News
UPS says Thailand and Indonesia cargo traffic are winners in trade war
Supply chains are quickly adapting to the US-China trade war and Thailand, Indonesia and Japan are the biggest growth markets in Asia for UPS, according to the American international package delivery and global logistics service. UPS’s COO Jim Barber says there is no question that cargo volume from China to the US has significantly decreased but, with some manufacturers moving…
- Business News
Thailand’s export growth expectations revised down to just 3% in 2019
“Export trends are aligned with global sentiment and the outlook for other Asian countries, making export prospects murky because of the escalating trade war.” The government is massively revising down their export growth targets to just 3% this year from an earlier 8% growth estimate. Deputy PM Somkid Jatusripitak is blaming the global economic slowdown, the ongoing trade spat between the…
- Tourism News
Thailand to see rise in tourists as fallout continues in the US-China trade spat
Thailand may end up being a beneficiary in the ongoing US-China trade spat as mainland Chinese tourists will decide to travel closer to home or could even find it difficult to gain entry into the US. The Tourism Authority of Thailand is monitoring the situation to see if Beijing blocks Chinese tourists from making trips to the US. The restriction…
- Technology News
US temporarily ease restrictions on Huawei
PHOTO: Huawei’s founder Ren Zhengfei and Chinese President Xi Jinping – SCMP The US has temporarily eased some of the restrictions on China’s Huawei, the world’s largest phone and telecom equipment maker, to minimise disruption to its customers. But Huawei’s founder, Ren Zhengfei, says it means little because the company was well prepared for any US restrictions to their trading. The…
- Business News
Thailand slashes 2019 exports estimates as trade war escalates
by Phuwit Limviphuwat Thai exporters are expected to pay a heavy price as the ramping up of the US-China trade war continues. The US has now launched a new round of tariffs on Chinese imports. Last Friday US President Donald Trump tweeted: “Talks with China continue in a very congenial manner, there is absolutely no need to rush, as Tariffs…
- Thailand News
How Thailand became a casualty in the US-China trade war
from South China Morning Post and AFP About one third of all the rubber in the world comes from Thai forests, many in the southern regions. But a sudden drop in Chinese demand has compounded a longer term global oversupply crisis to push prices off a cliff. Countries like Vietnam are benefiting as manufacturers migrate from China to avoid punishing tariffs…
