Latest news with #economiccoercion
Reuters
13 hours ago
- Business
- Reuters
EU, Japan to work more closely to address unfair trade, says EU's von der Leyen says
July 23 (Reuters) - The European Union and Japan will work more closely to counter economic coercion and address unfair trade practices, European Commission President Ursula von der Leyen told reporters on Wednesday. Von der Leyen's comments came after an EU-Japan summit with Japanese Prime Minister Shigeru Ishiba as the EU struggles to conclude a trade deal with the United States and a day before potentially tough meetings with Chinese leaders. Von der Leyen said the EU and Japan would seek to strengthen economic security. "We will also work more closely together to counter economic coercion and to address unfair trade practices," she said, adding later: "We believe in global competitiveness and it should benefit everyone."
Yahoo
5 days ago
- Business
- Yahoo
Ex-Australian PM Morrison to testify before US House panel on China
By David Shepardson WASHINGTON (Reuters) -Former Australian Prime Minister Scott Morrison will testify at a U.S. House panel hearing on Wednesday about countering China's "economic coercion against democracies," the committee said on Friday. Former U.S. ambassador to Japan Rahm Emanuel will also testify before the House Select Committee on China. Relations with China, already rocky after Australia banned Huawei from its 5G broadband network in 2018, cooled further after Canberra called for an independent investigation into the origins of COVID-19. China responded by imposing tariffs on Australian commodities, including wine and barley and limited imports of Australian beef, coal and grapes, moves described by the United States as "economic coercion." Morrison was defeated in a bid for reelection in 2022. Reuters reported this week Canberra is close to an agreement with Beijing that would allow Australian suppliers to ship five trial canola cargoes to China, sources familiar with the matter said, a move towards ending a years-long freeze in the trade. China imposed 100% tariffs on Canadian canola meal and oil this year amid strained diplomatic ties. Australian Prime Minister Anthony Albanese visited China this week, underscoring a warming of ties. Emanuel, who told a Chicago news outlet last month he is considering a run for president in 2028, has been a harsh critic of China, saying last year Beijing constantly uses coercion and pressures other countries, including Japan and the Philippines. "Economic coercion by China is their most persistent and pernicious tool in their toolbox," Emanuel said in a separate speech in 2023. The Chinese Embassy in Washington did not immediately comment. Solve the daily Crossword
Reuters
5 days ago
- Business
- Reuters
Ex-Australian PM Morrison to testify before US House panel on China
WASHINGTON, July 18 (Reuters) - Former Australian Prime Minister Scott Morrison will testify at a U.S. House panel hearing on Wednesday about countering China's "economic coercion against democracies," the committee said on Friday. Former U.S. ambassador to Japan Rahm Emanuel will also testify before the House Select Committee on China. Relations with China, already rocky after Australia banned Huawei from its 5G broadband network in 2018, cooled further after Canberra called for an independent investigation into the origins of COVID-19. China responded by imposing tariffs on Australian commodities, including wine and barley and limited imports of Australian beef, coal and grapes, moves described by the United States as "economic coercion." Morrison was defeated in a bid for reelection in 2022. Reuters reported this week Canberra is close to an agreement with Beijing that would allow Australian suppliers to ship five trial canola cargoes to China, sources familiar with the matter said, a move towards ending a years-long freeze in the trade. China imposed 100% tariffs on Canadian canola meal and oil this year amid strained diplomatic ties. Australian Prime Minister Anthony Albanese visited China this week, underscoring a warming of ties. Emanuel, who told a Chicago news outlet last month he is considering a run for president in 2028, has been a harsh critic of China, saying last year Beijing constantly uses coercion and pressures other countries, including Japan and the Philippines. "Economic coercion by China is their most persistent and pernicious tool in their toolbox," Emanuel said in a separate speech in 2023. The Chinese Embassy in Washington did not immediately comment.
South China Morning Post
11-06-2025
- Business
- South China Morning Post
China ‘respects Panama Canal neutrality' amid warning over CK Hutchison deal
China's foreign ministry has said it respects Panama's sovereignty and recognises its canal as a neutral international waterway, after the head of the strategic channel warned that the CK Hutchison ports deal could jeopardise its impartiality. Advertisement Panama Canal Authority administrator Ricaurte Vasquez said in an interview published on Tuesday that CK Hutchison Holdings' US$23 billion deal to sell its overseas ports to a consortium led by US investment giant BlackRock and shipping firm MSC could result in a concentration of operators that would be 'inconsistent with neutrality'. He also reportedly said that a request from the US government to allow its ships to pass through the canal free of charge was not feasible under the waterway's current regulations, while suggesting the authority should become a terminal operator itself. Responding to a question about recent reports on the matter, Lin Jian, the spokesman for China's Ministry of Foreign Affairs, said on Wednesday that Beijing had always firmly opposed economic coercion, domineering and bullying. 'On the navigation of relevant country's vessels, China will, as always, respect Panama's sovereignty over the canal and recognise the canal as a permanently neutral international waterway,' Lin said. Advertisement 'We support Panama's effort to uphold independence and firmly defend its lawful rights and interests as an independent sovereign country.'
Japan Times
05-06-2025
- Business
- Japan Times
Japan to name China as its biggest strategic challenge
The government, in its upcoming basic economic and fiscal policy guidelines, will position China as the biggest strategic challenge to efforts to strengthen the international order based on the rule of law, sources said Wednesday. It is unusual for the annual economic and fiscal policy guidelines to criticize China for its coercive behavior toward neighboring countries. A draft of the guidelines points out that China is using economic coercion, including through trade, and that the spread of yuan-based settlements through its Belt and Road initiative could impact the role of the dollar. The draft also expresses strong concern about China's attempts to unilaterally change the status quo by force in the East China Sea and the South China Sea, as well as its actions against peace and stability in the Taiwan Strait. Regarding U.S. President Donald Trump's tariffs, the draft states that the government will patiently continue negotiations to urge the Trump administration to reconsider the tariffs. The draft calls for all possible measures to cope with the tariffs' impact on the Japanese economy. In response to growing calls for a consumption tax cut, the draft indicates that the government will pursue wage increases that outpace inflation by expanding the overall economy, rather than increasing people's take-home pay through a tax cut that lacks a funding measure.
