Latest news with #U.S-China
Yahoo
26-06-2025
- Politics
- Yahoo
Departing US top official in Hong Kong criticises reach of national security law
By Jessie Pang HONG KONG (Reuters) -The top American diplomat in Hong Kong on Thursday criticised Hong Kong's use of the national security law to jail prominent campaigners for democracy, including media tycoon Jimmy Lai, and engage in the "transnational repression" of activists abroad. Gregory May, the departing consul general of the United States in Hong Kong, who is coming to the end of a three-year stint in the city, spoke about recent turbulence in the U.S-China relationship and highlighted various "friction points" including Lai's case. Lai, 77, has pleaded not guilty to two charges of conspiracy to collude with foreign forces under the national security law, as well as a separate charge of conspiracy to publish seditious material. He has been held in solitary confinement for more than 1,500 days since December 2020. "President Trump himself has mentioned Jimmy Lai several times now and he's very concerned about the fate of Mr. Lai," May told reporters after a speech at a U.S. Independence Day reception. "But I just want to emphasise the U.S. government concern is not just on this one individual. There are many other people, unfortunately, in Hong Kong who are in jail for peaceful expression of political views." Lai, whose family say his health is fragile, faces a possible life sentence under a China-imposed national security law that was implemented in 2020 in response to mass pro-democracy protests the year before. U.S. President Donald Trump has previously said he would "one hundred percent" get Lai, who also has British citizenship, out of the country. May, who will be leaving to take up a position as deputy head of the U.S. mission in Beijing, also criticised attempts by Hong Kong authorities to pressure overseas Hong Kong activists including the issuing of arrest warrants for national security violations and offering bounties of HK$1 million ($127,393) each. "The other friction point in my time here has been transnational repression, and it's very disappointing to see over my three years here, attempts by Hong Kong authorities to enforce the national security law within the borders of the United States against U.S. persons," May said. These are "attempts to restrict the free speech of people in the United States and unfortunately we're seeing Hong Kong authorities go after the family members of these overseas activists and that's a very disturbing development," he added. On the broader China-U.S. relationship, May said Trump and Chinese President Xi Jinping both wanted to get the bilateral relationship on "a positive track", a goal he would work towards in Beijing under the new U.S. ambassador to China David Perdue. ($1 = 7.8497 Hong Kong dollars) (Writing by James Pomfret; Editing by Kate Mayberry)
Mint
12-06-2025
- Business
- Mint
London copper rises, but volatility fears linger
(Update prices for Asia market close, adds analyst comment in paragraphs 3 and 4 and details in paragraph 5.) SINGAPORE, June 12 (Reuters) - London copper prices rose on Thursday, although the market expects volatility amid persistent uncertainty over the U.S-China trade deal. Three-month copper on the London Metal Exchange was up 0.4% at $9,683.5 per metric ton by 0706 GMT, while the most-traded copper contract on the Shanghai Futures Exchange lost 0.7% to 78,610 yuan a ton ($10,947.40). "LME and SHFE copper prices have been diverging as China's domestic demand for copper has shown signs of seasonal weakening, while LME is being supported by possible U.S. tariffs on copper imports," a Hangzhou-based metals analyst said. Copper inventories in SHFE-registered warehouses are building up but at a slow pace, which is unlikely to pressure SHFE prices too much, she said. SHFE copper inventories rose to 107,404 tons in the week ended June 6, from 98,671 tons in the week ended May 23. The U.S. and China reached agreement on Tuesday that restores a trade truce, removing Beijing's export curbs on rare earths and allowing Chinese students access to U.S. universities, although markets remain cautious about further developments. Meanwhile, the dollar slid after U.S. inflation rose less than expected in May, suggesting the Federal Reserve could cut rates soon. A weaker dollar typically supports metal prices by making them more attractive to buyers using other currencies. Among other LME metals, zinc added 0.5% to $2,666 per ton, lead gained 0.4% to $1,995.5, aluminum advanced 0.2% to 2,521.5, while nickel fell 0.2% to $15,140, and tin inched 0.1% lower to $32,630. Among SHFE metals, aluminium gained 1.1% to 20,395 yuan a ton, zinc rose 0.3% to 22,085 yuan, lead gained 0.3% to 16,890 yuan, while nickel fell 1.2% to 120,000 yuan. For the top stories in metals and other news, click or 1230 US Initial Jobless Clm Weekly 1230 US PPI Machine Mfg May 1600 US Federal Reserve issues Quarterly Financial Accounts of the United States ($1 = 7.1807 Chinese yuan) (Reporting by Hongmei Li; Editing by Sumana Nandy)
Yahoo
10-06-2025
- Business
- Yahoo
Trump–Xi call boosts Chinese president's tough man image — and may have handed him the upper hand in future talks
On June 5, U.S. President Donald Trump held a phone call with Chinese President Xi Jinping. It marked the first direct conversation between the two leaders since Trump began his second term — and the first since tensions sharply escalated in 2025's U.S.-China trade war. After the call, Trump was quick to frame it as a success for his administration, posting on social media that it led to 'a very positive conclusion for both Countries.' He later told reporters that Xi had agreed to resume exports of rare earth minerals and magnets to the U.S. — allaying the fears of the auto industry, which had previously warned that parts suppliers were facing severe and immediate risks to production. The presidential phone call also yielded an invitation for Trump and first lady Melania to visit China, an invitation that Trump reciprocated. But aside from the easing of some trade tension and surface-level niceties, the call conveyed subtle messages about an imbalance in the bilateral dispute. As an expert on U.S.-China relations, I believe these subtleties point to Xi having the upper hand in U.S.-China talks and also using Trump as a foil to burnish his own image as a strong leader at home and abroad. The Trump-Xi call should not distract from the fragile state of China-U.S. relations — and the willingness of Beijing to play its 'rare earth materials card.' Beijing suspended rare earth shipments to prominent American companies following the U.S. imposition of tariffs on China. Although China and U.S. delegations reached a 90-day tariff truce in Geneva on May 12, negotiations between the two countries remain ongoing. As many observers have noted, deep-rooted and structural differences — such as disputes over currency manipulation, export subsidies and other nontariff barriers — continue to cast a long shadow over the prospects of U.S-China trade talks. Under the terms of the Geneva deal, China agreed to suspend or lift its export ban on rare earths — something the U.S. accuses China of dragging its feet on. Beijing, in turn, accuses the U.S. of breaking the Geneva agreement first and blames Washington for rolling out a wave of discriminatory measures against China after the talks, including new export controls on artificial intelligence chips, a ban on selling electronic design automation software to Chinese companies, and plans to revoke visas for Chinese students. Trump's order banning American companies from using AI chips by China-based Huawei — issued just one day after the Geneva agreement on May 12 — was seen by many in Beijing as directly countering the spirit of the agreement. Indeed, it may well have prompted Beijing to delay the resumption of rare earth exports to the U.S. in the first place. Aside from the actual effect of the resumption of rare earth exports, Trump's apparent priority given to the issue signals to Beijing just how reliant the U.S. is on China in this regard — something that would not have gone unnoticed by Xi. Just one day before the June 5 call, Trump wrote on social media: 'I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!' His conversation with the Chinese leader would have further reinforced Xi's tough image — not just for a Chinese audience, but for international observers as well. This was certainly encouraged by how China described the call. According to China's official statement, Xi 'took a phone call from U.S. President Donald J. Trump' – the subtle implication being that it was Trump who initiated the call. This framing promotes the idea that Xi holds the upper hand. The Chinese statement also highlighted that the Geneva talks were 'at the suggestion of the U.S. side,' implying that China did not back down in the face of Trump's trade pressure — and that it was Trump who ultimately blinked first. China's message is particularly significant given that, as the U.S.-China trade war intensified in April, Washington believed it could gain 'escalation dominance' by imposing tariffs on Chinese goods — perhaps underestimating China's ability to retaliate effectively and assuming Beijing would be eager to negotiate. Prior to the June 5 communication, Trump repeatedly expressed hope that Xi would call him, yet Xi never took the initiative. On April 22, Trump told Time magazine that Xi had phoned him — an assertion that Beijing quickly denied. Throughout the trade standoff, Xi refrained from initiating contact with Trump, and in the end, it was Trump who reached out. This undoubtedly enhanced Xi's image back home — and potentially undermined Trump's negotiating posture. The official Chinese statement following the talks noted: 'The Chinese side is sincere about this, and at the same time has its principles. The Chinese always honor and deliver what has been promised. Both sides should make good on the agreement reached in Geneva.' Those words appear aimed at signaling to the international community that it is the U.S. — not China — that failed to uphold its end of the Geneva agreement. The second-to-last paragraph of the Chinese statement on the phone call noted: 'President Trump said that he has great respect for President Xi, and the U.S.-China relationship is very important. The U.S. wants the Chinese economy to do very well. The U.S. and China working together can get a lot of great things done. The U.S. will honor the one-China policy. The meeting in Geneva was very successful, and produced a good deal. The U.S. will work with China to execute the deal. The U.S. loves to have Chinese students coming to study in America.' While much of this language may be standard diplomatic rhetoric, it clearly aims to box in Trump as the supplicant in the current dispute and implies that he is moving closer to China's positions, including key nontrade issues like U.S. visas for Chinese students. Aside from the optics or broader question of who is 'winning' the dispute, the Trump-Xi call has certainly eased some tensions on both sides — at least temporarily. For the U.S., concerns over rare earth supplies were alleviated. Since the call, it has been reported that China has issued temporary export licenses to companies that supply rare earth materials to America's three largest automakers. For China, Trump's remarks seemingly helped reduce anxiety over issues such as Taiwan and student visa restrictions. But given the deep and fundamental differences between the two countries on trade and economic matters — and recalling how trade negotiations repeatedly stalled and restarted during Trump's first term — there is good reason to believe that future talks could face similar setbacks. But what is clear now, especially compared with the trade war during Trump's first administration, is that Beijing appears better prepared and more skilled at leveraging its rare earth exports as a bargaining chip. In many ways, Trump faces the greater pressure in his handling of Xi. Should talks collapse, any resulting supply chain disruptions could lead to rising inflation, market volatility and economic woe for the U.S. — with the associated risks of political fallout ahead of the midterm elections. Xi will know this and, in rare earth materials, has an ace up his sleeve to pull out when needed. Indeed, Trump may find himself needing to reach out to Xi again in the future in an effort to revive troubled trade negotiations. But doing so would only reinforce Xi's image as the tougher and more dominant figure. This article is republished from The Conversation, a nonprofit, independent news organization bringing you facts and trustworthy analysis to help you make sense of our complex world. It was written by: Linggong Kong, Auburn University Read more: In trade war with the US, China holds a lot more cards than Trump may think − in fact, it might have a winning hand Trump's desire to 'un-unite' Russia and China is unlikely to work – in fact, it could well backfire In Trump's America, the shooting of a journalist is not a one-off. Press freedom itself is under attack Linggong Kong does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Yahoo
02-06-2025
- Business
- Yahoo
U.S.-China tariff truce at risk of falling apart with both sides pointing fingers
The U.S-China trade truce is at risk of falling apart with both countries accusing the other of violating the agreement. NBC News' Christine Romans breaks it down. Politico White House and Foreign Affairs Correspondent Eli Stokols joins Katy Tur to share his analysis.
Yahoo
30-05-2025
- Business
- Yahoo
Watch These Boeing Price Levels After Stock Jumps to Highest Level in 15 Months
Boeing shares closed at their highest level since February 2024 following news that the company will resume delivering planes to China next month. The stock broke above a flag pattern in Thursday's trading session, setting the stage for a continuation move higher. Investors should watch key support levels on Boeing's chart around $199 and $187, while also monitoring resistance levels near $234 and $ (BA) shares closed at their highest level since February last year on news that the company will resume delivering planes to China next month. CEO Kelly Ortberg said that the country's airlines had indicated they would begin taking first deliveries in June, with the development coming after China earlier this month reportedly reversed a ruling barring its airlines from taking deliveries of Boeing planes. Sentiment likely received an added boost after Ortberg said Boeing plans to increase production of its top selling 737 Max jets to 42 per month in the near-term and 47 per month by the end of the year. Boeing shares have rebounded 62% from their early-April low and trade 18% higher since the start of the year through Thursday's close, lifted by growing optimism that the jet maker could become a beneficiary of a broader U.S-China trade deal. The stock was the top gainer in the Dow Jones Industrial Average on Thursday, rising more than 3% to around $208. Below, we take a closer look at Boeing's chart and apply technical analysis to identify price levels worth watching out for. Boeing shares broke out above the neckline of a double bottom earlier this month before consolidating in a flag, a chart pattern that signals a continuation of the stock's strong uptrend that has been in play since early April. Indeed, the shares broke out from the flag in Thursday's trading session, setting the stage for another move higher. However, it's worth pointing out that, while the relative strength index confirms bullish price momentum, the indicator also cautions overbought condition with a reading above the 70 threshold. Let's identify key support and resistance levels on Boeing's chart. The first lower level to watch sits around $199. This area would likely provide solid support near a horizontal line that connects the low of the flag pattern with multiple peaks and troughs on the chart extending back to the fourth quarter of 2023. A close below this key level could see the shares descend to $187. Investors may look for entry points in this location near the double bottom pattern's neckline, an area on the chart that may flip from prior resistance into future support. A continuation of the stock's recent bullish momentum could trigger a move toward $234, where the shares may encounter overhead selling pressure near a range of corresponding price action that followed a stock gap in January last year. Finally, buying above this level could see Boeing shares take off to the $265 region. Investors who bought at lower prices may decide to lock in profits in this area near a series of trading activity situated around the December 2023 swing high. The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info. As of the date this article was written, the author does not own any of the above securities. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
