Latest news with #US-Chinese
Mint
9 hours ago
- Business
- Mint
Trump NATO Envoy Warns China Over ‘Subsidizing' Russia's War
The US ambassador to NATO said China needed to be 'called out for their subsidizing' of Russia's war in Ukraine as the Trump administration ratchets up its threat to impose tariffs if Moscow does not agree to a peace deal. 'China thinks they're fighting a proxy war through Russia, and we're seeing in some statements by the Chinese government that they want to keep the United States and our allies occupied with this war, so that we can't focus on our other strategic challenges,' NATO ambassador Matthew Whitaker said Tuesday on Fox Business. 'China, I think, has miscalculated,' he added. 'I think they need to be called out for their subsidizing this killing that is happening on the battlefields in Ukraine.' Whitaker's comments come a week after US President Donald Trump threatened to impose tough economic penalties on Russia if it does not end its war on Ukraine within 50 days. Trump has said he would impose 100% tariffs, which officials have cast as secondary levies that would fall on countries who buy Russian exports such as oil. China's imports of Russian oil have climbed since Russian President Vladimir Putin's invasion of Ukraine in 2022. Washington and other capitals allied with Kyiv view such oil purchases as a form of tacit support for Russia, helping to bolster its economy and undercut sanctions. Russia's crude exports hit a one-month high ahead of Trump's tariff threat on buyers of Russian oil. Earlier: Russia's Crude Shipments Rebound Ahead of Trump Sanctions Threat 'The secondary sanctions are going to be significant. They're going to hit countries that are buying Russian oil, whether that's China, India or Brazil,' Whitaker said. Trump has raised the prospect of tightening economic pressure on Russia before without following through and trade analysts have said secondary tariffs would be difficult to implement. The threat also comes at a crucial time in US-Chinese relations with a tentative trade truce between the world's two largest economies set to end next month. US Treasury Secretary Scott Bessent told Fox Business on Tuesday that he would meet Chinese counterparts for talks next week in Stockholm. Bessent earlier this week said that the next round of talks between the countries could include a discussion on Chinese purchases of both Russian and Iranian oil. This article was generated from an automated news agency feed without modifications to text.
Straits Times
18 hours ago
- Business
- Straits Times
Trump's Nato envoy warns China over ‘subsidising' Russia's war
Find out what's new on ST website and app. Nato ambassador Matthew Whitaker said the secondary sanctions are going to be significant. WASHINGTON – The US ambassador to Nato said China needed to be 'called out for their subsidising' of Russia's war in Ukraine as the Trump administration ratchets up its threat to impose tariffs if Moscow does not agree to a peace deal. 'China thinks they're fighting a proxy war through Russia, and we're seeing in some statements by the Chinese government that they want to keep the United States and our allies occupied with this war, so that we can't focus on our other strategic challenges,' Nato ambassador Matthew Whitaker said on July 22 on Fox Business. 'China, I think, has miscalculated,' he added. 'I think they need to be called out for their subsidising this killing that is happening on the battlefields in Ukraine.' Mr Whitaker's comments come a week after US President Donald Trump threatened to impose tough economic penalties on Russia if it does not end its war on Ukraine within 50 days. Mr Trump has said he would impose 100 per cent tariffs, which officials have cast as secondary levies that would fall on countries who buy Russian exports such as oil. China's imports of Russian oil have climbed since Russian President Vladimir Putin's invasion of Ukraine in 2022. Washington and other capitals allied with Kyiv view such oil purchases as a form of tacit support for Russia, helping to bolster its economy and undercut sanctions. Russia's crude exports hit a one-month high ahead of Mr Trump's tariff threat on buyers of Russian oil. 'The secondary sanctions are going to be significant. They're going to hit countries that are buying Russian oil, whether that's China, India or Brazil,' Mr Whitaker said. Mr Trump has raised the prospect of tightening economic pressure on Russia before without following through, and trade analysts have said secondary tariffs would be difficult to implement. The threat also comes at a crucial time in US-Chinese relations with a tentative trade truce between the world's two largest economies set to end in August. US Treasury Secretary Scott Bessent told Fox Business on July 22 that he would meet Chinese counterparts for talks next week in Stockholm. BLOOMBERG
New York Post
05-07-2025
- Business
- New York Post
Trump says US will begin talks with China on possible TikTok deal as early as Monday
President Trump said he will begin talks with China in coming days on the sale of TikTok. 'We pretty much have a deal,' Trump told reporters late Friday. 'I think we're gonna start Monday or Tuesday . . . talking to China, perhaps President Xi [Jinping] or one of his representatives, but we pretty much have a deal.' The White House will likely need China to approve such a deal regarding the video-sharing, social-media platform, added the president. 4 President Donald Trump said he will begin talks with China in the coming days about a possible deal on the sale of TikTok. REUTERS Advertisement Trump made the announcement after The Post's Charles Gasparino earlier Friday reported the commander-in-chief had found a buyer for the controversial Chinese-owned short-video app but his real problem is with the seller. TikTok is being used as a pawn in the US-Chinese trade negotiations by Beijing, which knows Trump wants the app to remain operating in the United States, sources said. There will be no sale of TikTok to American investors — a move needed to conform to a US law — until the Chinese president is confident he has extracted as much as he can in terms of a favorable trade deal with the White House, added the sources. Advertisement 4 Chinese President Xi Jinping has been using TikTok as a pawn in the US-Chinese trade negotiations, according to sources. KAZAKHSTAN'S PRESIDENTIAL PRESS SERVICE/AFP via Getty Images Trump last month signed an executive order to extend the deadline to Sept. 17 for TikTok's China-based parent company ByteDance to divest TikTok's assets in the United States. It was the third such extension since Trump returned to the White House in January. In April, a group of wealthy investors and tech honchos were poised to place a bid with China to buy the app's US-based operations until Trump launched a trade war against Beijing, hitting China with 145% tariffs on imported goods. Advertisement That number has since been lowered as both sides negotiate other trade issues as part of a broader deal. 4 President Trump said he has a 'great relationship' with Chinese President Xi Jinping. AP When asked how confident he is that China will agree to a deal, the president said, 'I'm not confident, but I think so. President Xi and I have a great relationship, and I think it's good for them. I think the deal is good for China, and it's good for us.' 4 Trump last month signed an executive order to extend the deadline to Sept. 17 for TikTok's China-based parent company ByteDance to divest TikTok's assets in the United States. AFP via Getty Images Advertisement Congress voted overwhelmingly last year to ban TikTok if ByteDance wouldn't divest — via a 79-18 Senate vote and a 360-58 House landslide. Then-President Joe Biden signed the act. Trump halted the implementation of the ban on his first day in office — issuing an initial 75-day extension. Trump was skeptical of TikTok as a Chinese data-collection front during his first term, but came out against the ban after most major US-owned social media and content platforms, including Facebook, Twitter and Google-owned YouTube, banned him following the Jan. 6, 2021, Capitol riot.
New York Post
04-07-2025
- Business
- New York Post
China using TikTok as a pawn to squeeze Trump in trade talks: sources
President Trump recently said he found a buyer for TikTok, the controversial Chinese-owned short-video app but his real problem is with the seller, On The Money has learned. TikTok is being used as a pawn in the US-Chinese trade negotiations by Beijing, which knows that Trump wants the app to remain operating in the US, according to people with knowledge of the matter. There will be no sale of TikTok to American investors — a move that is needed to conform to a US law that bans the app from operating domestically — until Chinese President Xi Jinping is confident he has extracted as much as he can in terms of a favorable trade deal with the White House, these people add. Chinese President Xi Jinping will extract as much as he can in terms of a favorable trade deal with the White House, sources told On The Money.. Jack Forbes/NY Post Design 'Trump still doesn't have a seller,' is how one person involved in the talks described the situation. The problem, the source said, is that 'Xi is a no-show' in putting TikTok front and center in the broader trade talks, at least up to this point. Which is why bankers and investors involved in the TikTok dealmaking who keep tabs on the trade machinations were more than a little perplexed when Trump, appearing on Fox News on Sunday, said: 'We have a buyer for TikTok. … I'll tell you in two weeks.' He added that China will 'probably' allow the sale to 'very, very wealthy people. It's a group of wealthy people.' Having 'very wealthy people' willing to step up and buy TikTok is nothing new. In April, a group of wealthy investors and tech honchos were poised to place a bid with the Chinese to buy the US based operations until Trump launched a trade war against Beijing, hitting China with 145% tariffs on imported goods. Trump has been seeking a solution since returning to the White House, issuing a series of executive orders to keep the TikTok ban from going into effect. AP That number has since been lowered as both sides negotiate other trade issues as part of a broader deal. As for buyers, this person said either tech giant Oracle, co-founded by Trump pal Larry Ellison, the previous investor group, or a combination of both would be interested in taking a controlling stake in TikTok's US operations and stop it from going dark. In 2024, a bipartisan group of US lawmakers, fearful that the Chinese use TikTok to spy on US citizens, passed legislation, signed by former President Biden, that the company would cease operating on US app stores unless the Chinese gave up control of the platform. The ban was to go into effect Jan. 19, the day before Trump's inauguration. Trump once wanted TikTok banned but became a fan after the 2024 election, where he believed pro-Trump spots on the app helped him win over younger voters, which represent the majority of TikTok's users. He has been seeking a solution since returning to the White House, issuing a series of executive orders to keep the ban from going into effect despite prominent Republicans arguing that the law is still being flouted by Trump's delaying tactics and even the latest deal iteration. Under the terms of the last negotiated deal, the Chinese wanted a minority stake in the new US-investor controlled company and continued ownership of TikTok's crown jewel – its technology, the algorithm that funnels videos based on preferences to users, which lawmakers claim is used to spy on US citizens. The Chinese have long denied the spying issue, but US lawmakers remain concerned that majority US control still doesn't provide enough protection from alleged spycraft. That's one reason it took so long to come up with a structure that satisfied all the competing constituencies, and why even after finding a buyer that appeals to the seller, TikTok might still be banned in the coming months unless Trump issues yet another extension after the current one expires in mid-September.
Business Recorder
12-06-2025
- Business
- Business Recorder
Chicago soybean higher on US-China trade hopes
PARIS/SINGAPORE: Chicago soybean prices ticked up on Wednesday to hold close to a two-week high, as investors cautiously welcomed news that US and Chinese officials agreed on a framework to preserve a truce in their countries' trade war. Corn and wheat also edged higher, with corn moving away from a six-month low and wheat from a near two-week low on Tuesday, though favourable US and global production prospects continued to curb the cereal markets. Price moves were limited, with traders awaiting more details on the outcome of the US-Chinese talks and watching for US inflation data later on Wednesday. Grain markets are also turning their attention to monthly US Department of Agriculture world crop forecasts on Thursday. The most-active soybean contract on the Chicago Board of Trade (CBOT) was up 0.2% at $10.59-3/4 per bushel by 1050 GMT, near Tuesday's peak that was the highest since May 28. 'The soybean market has stabilised. We're going to have to wait to see what happens next in the trade talks,' Argus Media analyst Maxence Devillers said. China is the world's biggest soybean importer, while the United States is the No. 2 exporter of the oilseed. Chinese retaliatory tariffs on US agricultural goods have curbed soybean trade, with Brazil dominating record Chinese soybean imports in May. After a bumper Brazilian harvest, a good start to the US growing season was also hanging over the soybean market. In cereals, CBOT wheat added 0.2% to $5.35-3/4 a bushel, after slipping to its lowest since May 29 on Tuesday, while corn gained 0.7% to $4.42 a bushel after reaching its weakest level since Dec. 5 in the previous session. Wheat prices came under pressure after the US Department of Agriculture raised its ratings for both spring and winter wheat crops, tempering concerns about rain damage in the run-up to harvesting. Supply prospects have also been bolstered by a satisfactory crop outlook in top wheat exporter Russia. 'There's not much to make prices rebound at the moment when you look at fundamentals, the crop outlook is decent,' Devillers said of wheat. In corn, brisk US exports were lending some support, but the feed grain market was also pressured by favourable crop conditions in both the United States and Brazil.
