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Calgary Herald
10 hours ago
- Business
- Calgary Herald
US, China negotiators meet in Stockholm to extend trade truce
Article content While China has denied its responsibility for the flow of the deadly drug, last month it tightened controls over two chemicals that can be used to make the opioid. Earlier this month, Trump praised those moves. 'China has been helping out,' he told reporters. 'We're talking to them and they're making big steps.' Article content For the US, the recent Chinese actions aren't enough, as such moves were required to comply with United Nations measures, according to a person familiar with the trade talks. Chances of reducing the 20% tariff in this round of talks are very slim, added the person who asked not to be identified discussing sensitive matters, while noting everything could change on Trump's whim. Article content China would be willing to cooperate more on fentanyl, said Sun Chenghao, a professor at Tsinghua University in Beijing. But the US would have to remove the related tariffs, stop blaming Beijing for what it sees as a US domestic problem and provide concrete evidence of crimes, he said. Article content Article content The US business community remains hopeful for progress, with Sean Stein, president of the US-China Business Council, telling Bloomberg TV that movement on fentanyl presents the 'biggest opportunity' in talks. Article content 'That then lowers tariffs on the US side, which then opens the door for China to lower tariffs that lets us sell agriculture, lets us sell airplanes, lets us sell automobiles, that let's us sell energy,' he said. Article content Oil Purchases Article content In his comments announcing the talks, Bessent indicated negotiations can now take on a broader array of topics, potentially including Beijing's continued purchases of sanctioned oil from Russia and Iran. Article content Chinese state media has already pushed back against that idea. 'China won't play along' with such attempts to use China to kill Russia's economy, Lv Xiang, a US expert with the Chinese Academy of Social Sciences last week told the state-run tabloid Global Times. Article content Article content By contrast, China's imports of three major energy products from the US hit almost zero in June, marking the first time in almost three years the Asian nation didn't import any crude oil from its top rival. Deliveries of American crude oil, liquefied natural gas and coal have been subject to Chinese tariffs of 10% to 15% since February. Article content Xi's government has begun rolling back some of its other retaliatory measures since the two sides met last month in London. Crucially, Beijing has boosted shipments of rare earth magnets, while the US relaxed restrictions on sales of less-advanced semiconductors to China. Article content In another potential goodwill gesture, as the Sweden talks were announced this month, China revealed it had suspended an antitrust investigation into the local unit of US chemical manufacturer DuPont de Nemours Inc.
South China Morning Post
18-06-2025
- Business
- South China Morning Post
TikTok's fate still in limbo as Trump extends deadline to sell platform's US operations
The fate of short video app TikTok in the United States remains in limbo, according to analysts, even as the Trump administration gives owner ByteDance fresh 90-day extension to find a non-Chinese buyer for the popular platform's operations in the country. The White House on Tuesday said US President Donald Trump would sign another executive order this week 'to keep TikTok up and running' in the US. While Beijing and Washington work on a trade deal, 'the TikTok issue is beyond the scope of traditional trade, as it involves national security, data sovereignty, technological competition and other highly sensitive issues', said Sun Chenghao, a fellow and head of the US-EU programme of the Centre for International Security and Strategy at Tsinghua University 'Even if there is some easing in the trade area, the prudent attitude towards the [TikTok] issue has not been loosened', he said. His assessment reflects the uncertainty on whether Trump can – or will – keep extending the ban, as the government continues to try to negotiate a deal for TikTok.
