
China says it has confirmed details of trade deal with US
'It is hoped that the United States and China will meet each other halfway,' a spokesperson for Beijing's commerce ministry said in a statement, calling for 'the healthy, stable and sustainable development of China-US economic and trade relations.'
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Arab News
2 hours ago
- Arab News
Pakistan, China discuss progress of CPEC projects, connectivity with Central Asia
ISLAMABAD: Pakistan's Planning Minister Ahsan Iqbal has met China's Ambassador to Pakistan Jiang Zaidong and discussed progress of ongoing China-Pakistan Economic Corridor (CPEC) projects and linking the corridor with Central Asian states for greater regional connectivity and economic stability, Pakistan's Press Information Department (PID) said on Sunday. Since 2013, Beijing has invested tens of billions of dollars in energy and infrastructure projects in Pakistan as part of CPEC, a major segment of China's Belt and Road Initiative that aims to build land and maritime trade routes linking Asia with Africa and Europe. In May, Pakistan and Afghanistan agreed to the expansion of CPEC to Afghanistan after the recent trilateral meeting in Beijing, while Pakistani and Chinese leaders have invited Central Asian republics in recent years to join CPEC to enhance regional connectivity and economic cooperation. At the meeting in Islamabad, both Pakistani and Chinese officials discussed the progress of ongoing CPEC projects and preparations for the upcoming Pakistan-China Joint Cooperation Committee (JCC) meeting, where key decisions are expected to be made. 'Connecting CPEC to Central Asian states will contribute to regional economic stability and economic cooperation,' Iqbal said as he reiterated his government's commitment to ensuring security of CPEC projects, according to PID. Despite massive Chinese investments, Pakistan has struggled to keep up its financial obligations regarding CPEC, while the undertaking has also been hit by militant attacks in recent years. Iqbal previously said the two sides will hold the JCC meeting at the end of July, at which they will approve roadmap for CPEC's Phase 2. The next phase would be based on five corridors, relating to growth, innovation, livelihoods, green energy, and open and inclusive development in the region, he told reporters at a briefing in Islamabad last month. Speaking at Sunday's meeting, he said the development of Gwadar port, which lies at the heart of CPEC in Pakistan's Balochistan, and Special Economic Zones was top priority of his government. 'The government is committed to fully capitalizing on the port's trade potential,' he said. During the meeting, Ambassador Jiang reaffirmed China's commitment to supporting Pakistan's development efforts, according to PID. 'He assured that bilateral cooperation will continue to expand in the coming years,' it said.


Arab News
4 hours ago
- Arab News
Chinese firm eyes investment in Pakistan's ICT, new energy sectors — ministry
ISLAMABAD: GuoDong Group, a leading Chinese communications firm, has expressed 'strong interest' in investment in Pakistan's information and communication technology (ICT) and new energy sectors, the Pakistani IT ministry said on Sunday. The statement came after a meeting between Pakistan's IT Minister Shaza Fatima Khawaja and a three-member GuoDong Group delegation, led by its founder and chairman Lu Jie in Shanghai. The meeting took place on the sidelines of the Global Artificial Intelligence Conference, at which both sides discussed investment opportunities in Pakistan, according to the Pakistani IT ministry. 'The delegation expressed strong interest in investing in Pakistan's ICT sector, with a focus on telecommunication towers, data centers, and cloud computing infrastructure,' the Pakistani ministry said in a statement. 'Mr. Lu Jie also conveyed interest in expanding to new energy domains, including EV charging stations, smart city solutions, and advanced material manufacturing within Pakistan.' The development comes as Pakistan, slowly recovering from a macroeconomic crisis under a $7 billion International Monetary Fund (IMF) deal, has been looking to boost foreign investment for sustainable growth. In May, the Pakistani government allocated 2,000 megawatts (MW) of electricity in the first phase of a national initiative to power cryptocurrency mining and Artificial Intelligence (AI) data centers. The South Asian country is also looking to build critical electric vehicle (EV) charging infrastructure as it targets 30 percent of all new vehicle sales to be electric by 2030 under its ambitious New Electric Vehicle Policy (NEVP) 2025–2030. Welcoming the proposals, Khawaja invited the GuoDong Group officials to visit Pakistan for more detailed discussions with relevant stakeholders. 'She assured the delegation of the Government's full support and facilitation to help realize these investment initiatives,' the IT ministry said.


Arab News
5 hours ago
- Arab News
Bangladesh orders 25 Boeing planes as part of push to ease US tariffs
DHAKA: Bangladesh has ordered 25 aircraft from Boeing and ramped up imports of key American goods in an effort to defuse trade tensions and bring down the steep tariffs imposed by the Trump administration, a senior official said on Sunday. The moves are part of a broader strategy to narrow a $6 billion US trade deficit with Bangladesh and avoid a looming 35 percent tariff hike that has rattled the country's export sector, especially the garments industry which risks losing competitiveness in one of its largest markets. 'We need new aircraft urgently, possibly within the next couple of years,' Commerce Secretary Mahbubur Rahman told reporters. 'Initially, it was 14 planes — now it's 25,' he said, referring to an earlier plan to purchase aircraft from the US-based manufacturer. Alongside the aircraft deal, Bangladesh is boosting imports of wheat, soybean oil and cotton from the United States. A new agreement signed earlier this month will see the country import 700,000 tons of US wheat annually over the next five years. Officials hope that these steps will help improve trade relations with Washington and soften the impact of the Trump administration's tariff measures.