trade
- World News
EU and UK zone in on possible breakthrough
“Even if a text is prepared for the leaders this week, any deal would have to be approved by a skeptical British parliament, which holds a special session on Saturday.” by Dave Clark British and European negotiators headed back into intense negotiations on a draft Brexit deal after late-night talks brought them closer but so far fails to confirm an…
- World News
US will slap tariffs on EU following Airbus trade ruling
PHOTO: Airbus factory in Toulouse, France – Manatour.fr The US is making more trade waves, in addition to its long-running trade war with China. Now it’s taking on the largest trade bloc in the world – the European Union. Aircraft and agricultural items from Europe will now be subject to US tariffs in the latest round of a long legal…
- Business News
Industry group calls for further cut in Thai policy interest rate
“Thai private sector, recently adjusted downward the export growth projection for this year to 2.9 – 3%.” The Federation of Thai Industries have their hopes set on the Monetary Policy Committee of the Bank of Thailand making another cut in the policy interest rate, currently set at 1.5%. With the US Fed looking to drop its interest rate this week,…
- 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…
- World News
South Korean President in Thailand to sign trade agreements
PHOTOS: The Nation PM Prayut Chan-o-cha and his wife Naraporn Chan-ocha, have welcomed South Korean President Moon Jae-in and his wife Kim Jung-sook to Government House in Bangkok this morning in the midst of an official state visit that continues tomorrow. A government spokesperson says that this was President Moon’s first official visit to Thailand since assuming his post in May…
- Business News
US-China tit-for-tat rattles Asian markets after Trump’s ‘tariff tantrum’
US President Trump has caused widespread panic in Asian financial markets today after Fridays “tariff tantrum” where he used Twitter to announce new levels of tariffs on Chinese imports after China announced their response to his previous ramping up of the ongoing trade war between Washington and Beijing. Asian shares have headed southward today after the President escalated tariffs in…
- World News
US-China trade war accelerates formation of RCEP trade bloc
The escalation of the trade war between China and the US might help push forward negotiations of the Regional Comprehensive Economic Partnership (RCEP) free trade agreement. RCEP, once formed, will be the largest trading bloc in the world. Trade ministers from China, India, Japan, South Korea, Australia, New Zealand and the 10 ASEAN member states met in Beijing last weekend for…
- Business News
Currencies and stock exchanges flutter as the dust settles on the latest threats in the US-China trade spat
Central banks in India, Thailand and New Zealand cut interest rates this week in an attempt to fend off any harm from the spiralling US-China trade war. The escalation of the trade war, sparked by fresh US tariff threats by US President Trump over the weekend, is seen as the reason for the policy shift. On Monday, the People’s Bank…
- World News
Weekend RCEP meeting move closer to the world’s biggest trading bloc
PHOTO: Asia Nikkei Whilst the UK looks to walk away from the EU trade bloc and the US continues to ramp up the trade war with China, the formation of the Regional Comprehensive Economic Partnership (RCEP), which would be the largest trade bloc in the world, continues to gather pace. The RCEP, initiated by ASEAN in 2012, is a proposed…
- Politics News
Thailand and EU prepare for signing of a strategic trade partnership
Thailand and the European Union are ready to sign a draft Strategic Partnership and Cooperation Agreement to promote bilateral trade and investment in the future. Federica Mogherini, an EU Representative for Foreign Affairs and Security Policy, and vice chairwoman of the European Commission, met today with PM Prayut Chan-o-cha during her visit to Thailand to attend the ASEAN Plus Foreign…
- 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
“Very dangerous” Huawei could be part of a US-China trade deal
President Donald Trump has reiterated his complaints against China’s Huawei Technologies but conceded that they could be resolved as part of a negotiated US-China trade deal. Without providing evidence, he went on to call the Chinese telecommunications giant “very dangerous.” The US has virtually banned firms from conducting business with Huawei, the world’s largest telecom manufacturer, citing unspecified national security…
- Business News
Urgent meetings to consider impact of US-China trade war on Thai exports
The Thai government is reacting quickly to perceived threats to the Thai export business by the ongoing US-China trade wars which have been ramped up in the past week by, firstly, US President Donald Trump rising the tariffs on a raft of additional Chinese items. Then China announced yesterday that it will impose tariffs on US$60 billion of US goods from June…
- World News
US-China trade tensions reverberate around the world
New global diplomatic and economic fault lines are appearing, with new and untested consequences emerging. ‘Volatile’ does’t even start to describe the current situation. US President Donald Trump’s combative stance, made clear with a new round of import tariffs imposed, continues to upend decades of trade diplomacy and cautious negotiations as he tries to coax China to change their trading…
- Environment News
Thailand to re-open the export of elephants after a 10 year ban
After more than ten years with a ban on the export of Thai elephants, Thailand’s Foreign Trade Department is now poised to ease restrictions paving the way for the export of the protected species for ‘non-commercial purposes’. The director-general of the Foreign Trade Department, Mr. Adul Chotenisakorn, says the Ministry of Commerce issued a new regulation on April 10 to…
- Business News
Thai businesses feeling pinch from china-US trade wars
Since the US China trade war kicked off in the middle of 2018, Thai businesses have begun to feel the pinch as indicated by a small downward trend in Thai export numbers. In the short run, some Thai export items may benefit from trade diversion as US and Chinese importers shifted to certain Thai products to avoid punitive tariffs. However, indirect…
- World News
Vietnam and Thailand head toward $20 billion in two-way trade
FILE PHOTO Việtnam and Thailand are poised to reap the benefits of a US$20 billion two-way trade deal by 2020. A meeting of the Joint Committee on Bilateral Cooperation wrapped up in Thailand yesterday. The two-day meeting was co-chaired by Vietnamese Deputy PM and Foreign Minister Phạm Bình Minh together with the Thai Foreign Minister Don Pramudwinai. The two sides agreed…
- Northern Thailand News
Chiang Rai Governor Prajon hosts seminar to develop SEZs in northern Thailand
PHOTO: Chiang Rai Times Chiang Rai Governor Prajon Prachsakul presided over the opening of the Special Economic Zone Policy Committee seminar held at the Teak Garden Resort. The seminar was designed to mobilise the development of special economic zones and promote public participation in the northern province project. According to the Chiang Rai Times, Governor Prajon told attendees that the…
